India is aiming to significantly deepen economic ties with Canada, with Commerce and Industry Minister Piyush Goyal leading a major business delegation during his visit to the North American nation. The two countries are targeting bilateral trade worth $50 billion by 2030 as discussions resume around a Comprehensive Economic Partnership Agreement (CEPA).
The visit marks an important step in rebuilding and strengthening economic relations between the two countries after diplomatic tensions in recent years. More than 100 Indian business leaders are accompanying Goyal to Canada for meetings with ministers, industry representatives and investors in Ottawa and Toronto. Discussions are expected to focus on trade, technology, agriculture, education and energy cooperation.
Officials from both countries have indicated renewed momentum in negotiations for a free trade agreement, which had earlier stalled. India and Canada are also exploring opportunities to diversify supply chains and increase investment flows across sectors. Analysts believe stronger trade engagement could help both nations reduce dependence on traditional markets and open new areas of economic collaboration.
The visit follows recent diplomatic outreach between Canadian Prime Minister Mark Carney and Prime Minister Narendra Modi. Both sides have expressed optimism about restoring confidence and accelerating economic partnerships over the coming years.
