India and Canada have reaffirmed their goal of increasing bilateral trade to $50 billion by 2030 and accelerating talks on the proposed Comprehensive Economic Partnership Agreement (CEPA).
The commitment was reinforced during Commerce and Industry Minister Piyush Goyal’s meetings with Canadian ministers, investors and business leaders in Toronto.
The move signals a broader effort by both countries to strengthen economic ties and expand cooperation in trade, investment and technology as diplomatic relations improve.
During a fireside chat with Canada’s International Trade Minister Maninder Sidhu, Piyush Goyal highlighted the growing economic complementarities between India and Canada and called for a more stable business environment. Sidhu announced that a Canadian trade mission will visit India in November to explore opportunities in sectors such as AI, critical minerals, semiconductors, clean energy and advanced manufacturing.
Both ministers reiterated their commitment to concluding the proposed CEPA at the earliest and increasing bilateral trade from the current $8.5 billion to $50 billion by 2030. Trade pact negotiations have gained momentum since the terms of reference were signed in March 2025.
Piyush Goyal delivered the keynote address at the Canada–India Building Bridges event in Toronto, attended by over 150 representatives from sectors such as manufacturing, pharmaceuticals, clean technology and energy. He also co-chaired the Canada–India Investment Roundtable with Maninder Sidhu, where investors discussed opportunities linked to India’s infrastructure growth, economic reforms and business-friendly policies.
Goyal held separate meetings with major Canadian companies and investors to discuss opportunities in areas including insurance, banking, food processing and critical minerals. More than 100 Indian business representatives are part of the three-day visit aimed at strengthening economic ties between the two countries.