Commerce Minister Piyush Goyal heads to Canada with 150 trade delegates as India resumes trade talks | Today’s news
Commerce Minister Piyush Goyal will visit Canada from May 25 to 27 with a delegation of around 150 Indian industry leaders as the two countries seek to revive trade and investment engagement after a long diplomatic cooldown.
Goyal said at a briefing on Saturday that the delegation will hold meetings with Canadian ministers, businessmen and industry associations in Ottawa and Toronto, with discussions expected to focus on technology, food processing, clean energy and critical minerals.
“Canada is a reliable partner for uranium and critical minerals for India. He is scheduled to meet Canadian Prime Minister Mark Carney and Canadian International Trade Minister Maninder Sidhu during the visit. He will also hold bilateral talks and round tables,” Goyal said.
The visit comes as India and Canada resume negotiations on a proposed Free Trade Agreement (FTA) and a broader Comprehensive Economic Partnership Agreement (CEPA). Goyal said the proposed pact is expected to cover sectors such as energy and critical minerals, while creating opportunities for India’s textile and leather exporters.
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A moment of onion
Both sides are working towards the early conclusion of a balanced and mutually beneficial CEPA by the end of 2026, with the shared ambition of expanding bilateral trade to CAD 70 billion (approx. ₹4.65 lakh crore) by 2030. Bilateral trade currently stands at around US$ 8.5 billion in FY25, leaving considerable scope for expansion across sectors.
“The central objective of the visit is to advance the India-Canada Comprehensive Economic Partnership Agreement (CEPA) negotiations. The terms of reference were signed during Prime Minister Carney’s visit to India in March 2026. The first round of negotiations took place practically in March and the second round was concluded on May 8, 2026. During this visit, the next round of negotiations will be held from May 29 to May 25 in Ottawa.”
Canadian pension funds and companies have already invested nearly $100 billion in India, Goyal said, adding that around 600 Canadian companies are currently operating in the country. Both parties intend to increase this number to 1,000 companies in the coming years.
The renewed push follows Mark Carney’s visit to New Delhi in March, during which the two countries agreed to finalize the terms of the CEPA negotiations.
Strategic sectors
“The delegation will engage with Canadian counterparts across priority sectors, including technology and artificial intelligence; clean energy and critical minerals; pharmaceuticals and biotechnology; aerospace and defence; and food and agriculture technology, where India and Canada are highly complementary and where the opportunity for joint investment, R&D and supply chain partnerships is most significant,” the ministry statement added.
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In the April-January period of FY26, India’s merchandise exports to Canada reached $3.777 billion, up from $3.468 billion in the same period in FY25 and $3.137 billion in FY24. Key export sectors include pharmaceuticals, gems and jewellery, engineering and iron and steel products.
In March 2026 alone, India exported goods worth approximately USD 447 million to Canada while importing USD 171 million, maintaining a healthy trade surplus. Annual trade in goods in 2025 between the two countries was approximately US$13.6 billion, with trade in services contributing significantly more value. Canadian services exports to India have topped $15 billion, driven largely by education.
