India, Canada Start Second Round Of CEPA Negotiations, To Finalise FTA By End-2026

New Delhi, May 5 (KNN) India and Canada have commenced the second round of negotiations for a proposed free trade agreement, with both sides aiming to conclude the pact by the end of 2026 and boost bilateral trade to USD 50 billion by 2030.

The five-day negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA) began in New Delhi on Monday, as both countries look to accelerate discussions following renewed diplomatic engagement, The Hindu reported.

The latest round follows the first phase of talks held in March this year after a meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney in New Delhi, which marked a reset in bilateral ties.

Bilateral Trade Targeted At USD 50 Billion By 2030 

According to a joint statement issued after the March meeting, both leaders agreed that a comprehensive trade framework would serve as a long-term economic anchor and support the goal of expanding bilateral trade to CAD 70 billion (around Rs 4.65 lakh crore) by 2030.

Commerce and Industry Minister Piyush Goyal is also expected to visit Canada later this month with a business delegation.

India’s bilateral goods trade with Canada stood at USD 8.66 billion in 2024-25, with exports valued at USD 4.22 billion.

Key Indian exports include pharmaceutical products, machinery parts, iron and steel articles, electronics, organic chemicals, gems and jewellery, textiles, seafood, engineering goods, and auto components.

Imports include pulses, fertilisers, mineral fuels, wood pulp, diamonds, aircraft parts, machinery, paper products, and metal scrap.

India’s major services exports to Canada include telecommunications, computer services, and other business services.

(KNN Bureau)