Goyal Advances India-Canada CEPA Talks, Sets USD 50 Billion Trade Target by 2030

New Delhi, May 27 (KNN) Union Minister of Commerce and Industry Piyush Goyal held a series of meetings with Canadian ministers, business leaders and institutional investors in Toronto during his ongoing visit to Canada, with both India and Canada reaffirming their commitment to increasing bilateral trade to USD 50 billion by 2030.

Both India and Canada expect negotiations on the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA) to conclude by the end of the year. 

The discussions during the bilateral meetings focused on expanding trade, investment and sectoral cooperation between the two countries.

Goyal delivered the keynote address at the Canada–India Building Bridges event organised by Global Affairs Canada, the Confederation of Indian Industry (CII) and ASSOCHAM at the World Trade Centre Toronto. 

The event brought together representatives from sectors including advanced manufacturing, pharmaceuticals, biotechnology, clean technology, energy and oil and gas.

During talks with Canada’s Minister of International Trade Maninder Sidhu, the two sides also discussed cooperation in sectors such as artificial intelligence, renewable energy, semiconductors, critical minerals and digital infrastructure. 

Sidhu announced that a Team Canada Trade Mission would visit India in November to explore business and investment opportunities across these sectors.

The two ministers also co-chaired the Canada–India Investment Roundtable attended by Canadian pension funds, banks, financial investors and senior government officials from both countries. 

Discussions focused on infrastructure development, financial sector reforms, clean energy, manufacturing, digital infrastructure and supply chain diversification, with Goyal inviting Canadian investors to explore opportunities in India.

During the visit, Goyal held separate meetings with Canadian companies and investors from sectors including insurance, banking, food processing and critical minerals processing. 

The discussions covered investment opportunities in India, Production Linked Incentive (PLI) schemes, trade agreements, Global Capability Centres (GCCs) and India’s business environment.

The visit concluded with an interaction with members of the Indian diaspora at an event organised by the Consulate General of India in Toronto at the Pearson Convention Centre in Brampton. 

(KNN Bureau)