India and Canada aim to seal trade pact by year-end; start a new investment forum

India and Canada on Friday reaffirmed their commitment to strengthen bilateral trade and investment ties, with both sides aiming to conclude negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026.

The announcement was made during the India-Canada Trade and Investment Forum, where Canada’s International Trade Minister Maninder Sidhu and India’s Trade and Industry Minister Piyush Goyal discussed ways to deepen economic engagement in sectors such as clean energy, critical minerals, agri-food, advanced manufacturing, digital technology and skill development.

In a joint statement issued by the Department of Commerce, the two ministers emphasized that the proposed CEPA will help expand market access, strengthen resilient supply chains and promote two-way economic growth.

Sidhu welcomed Goyal along with what was described as “the largest Indian delegation ever sent anywhere in the world”, underscoring the growing momentum in trade relations between the two countries.

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Trade and investment forum

The two sides also formally launched the Canada-India Trade and Investment Forum, which is expected to be a platform to connect businesses from both countries and facilitate new business partnerships and investments.

The Ministers emphasized the importance of improving connectivity between India and Canada, including stronger people-to-people ties, greater business mobility and direct trade links to further promote trade and investment flows.

As part of efforts to deepen engagement, Canada has announced that it will lead a “Team Canada” trade mission to India later this year, reflecting the growing interest of Canadian companies in expanding operations in the Indian market.

India and Canada also agreed to promote long-term investment in priority sectors and deepen collaboration between businesses, innovators and institutional partners. Both sides pledged to maintain regular dialogue and achieve concrete results in the coming months.

The latest developments signal renewed momentum in India-Canada economic ties following recent high-level ministerial engagements, with trade negotiations now taking on new urgency in the wake of changing global supply chains and geopolitical realignments.

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Goyal meets the world’s top industry leaders in NY

In a separate press statement, the commerce ministry said Goyal held a series of high-level meetings in New York with top global industry leaders aimed at strengthening Indo-US trade and investment ties and positioning India as a key global investment destination.

During his transit visit to New York on May 28, Goyal met executives from the world’s leading financial and corporate institutions, including Carlyle Group CEO Harvey Schwartz, Morgan Stanley Chairman and CEO Ted Pick, Warburg Pincus Chairman Charles Kay, Amneal Pharmaceuticals Co-Founder and CEO Chintu Patel and Mastercard CEO Michael Miebach.

According to a statement issued by the commerce ministry, the discussions focused on expanding opportunities for global businesses in India, strengthening supply chain resilience and deepening collaboration across sectors such as financial services, healthcare, manufacturing, digital payments, artificial intelligence, innovation and new technologies.

The meetings come at a time when India is increasingly positioning itself as an alternative manufacturing and investment hub amid global geopolitical shifts and efforts by multinational corporations to diversify their supply chains.

The minister also addressed a gathering of over 50 leading trade and investment executives for an interaction organized in collaboration with the US-India Strategic Partnership Forum. Discussion during the event focused on India’s economic growth trajectory, ongoing reforms, ease of doing business and emerging investment opportunities across sectors.

The commitments underscored growing investor confidence in India’s economic outlook and underscored the government’s efforts to deepen industry-to-industry cooperation between India and the United States.

The outreach is part of India’s broader efforts to attract foreign investment, strengthen strategic economic partnerships and accelerate integration with global value chains as New Delhi seeks to maintain high growth momentum.

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