Canada and India Advance CEPA Talks as Trade Ministers Target $70 Billion in Two-Way Trade by 2030

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Canada and India are advancing trade talks as ministers push their comprehensive economic partnership agreement (CEPA) towards a potential conclusion by the end of 2026. In Mumbai, Canadian International Trade Minister Maninder Sidhu met India’s Commerce and Industry Minister Piyush Goyal alongside chief negotiators. The discussions focused on expanding trade, investment and commercial cooperation. Canada and India also aim to double two-way trade to $70 billion annually by 2030. Meanwhile, Canadian businesses are being positioned for opportunities in India across energy, critical minerals, aerospace, artificial intelligence, clean technology and life sciences. The latest discussions therefore carry implications for trade, business and travel-linked economic activity.

Canada and India Advance CEPA Talks as Trade Ties Enter a New Phase

Canada and India are moving forward with negotiations on a comprehensive economic partnership agreement as both countries seek to deepen commercial relations and expand opportunities for businesses.

The latest discussions took place in Mumbai, where Canadian International Trade Minister Maninder Sidhu met India’s Commerce and Industry Minister Piyush Goyal. The meeting also brought together the countries’ chief trade negotiators.

The talks come as Canada seeks to strengthen its commercial relationships beyond the United States and increase access to major international markets. India, meanwhile, represents one of the world’s largest and fastest-growing economies, creating opportunities across several sectors.

What happened during the latest Canada-India trade talks?

The ministers discussed opportunities to strengthen trade and investment links and advance negotiations on the proposed Canada-India CEPA.

According to Global Affairs Canada, four rounds of negotiations have now been completed. Officials from both countries will continue working to narrow remaining differences, with the shared objective of concluding negotiations by the end of 2026.

Sidhu also thanked Goyal for his continued support in progressing the negotiations and reaffirmed Canada’s commitment to reaching a mutually beneficial agreement.

The Canadian minister is also scheduled to lead a Team Canada Trade Mission to India next month. The mission is intended to deepen commercial partnerships and identify further opportunities for Canadian companies.

Why is the $70 billion trade target important?

Canada and India are targeting $70 billion in annual two-way trade by 2030, effectively seeking to double their current commercial relationship.

The scale of that ambition is significant when compared with existing trade. In 2025, merchandise trade between the two countries reached $13.6 billion, while combined trade in goods and services stood at $30.4 billion.

The figures show the importance of services in the bilateral economic relationship. Canadian service exports to India reached $15.2 billion in 2025, with education-related travel representing the largest component.

For the travel industry, this services relationship is particularly relevant because education, business travel and wider people-to-people connections can generate demand for air connectivity, accommodation and other tourism-related services.

Which sectors could benefit from stronger Canada-India ties?

The discussions are extending beyond traditional merchandise trade into industries identified as strategic priorities.

During his Mumbai visit, Sidhu met senior representatives from Mahindra & Mahindra, Bajaj Integrated Health System, JSW Group and CAE. Discussions covered potential collaboration in life sciences, clean technologies, energy transition and aerospace.

Canada is also highlighting its strengths in energy, critical minerals, aerospace and artificial intelligence as areas with potential for expanded commercial cooperation.

For Canadian exporters, India offers a large consumer and industrial market. For Indian companies, stronger economic ties could create additional opportunities to access Canadian investment, technology, resources and business networks.

What does current Canada-India trade look like?

The trade figures illustrate a relationship that is already substantial but uneven across several categories.

Canadian merchandise exports to India were worth $3.9 billion in 2025. Key exports included vegetables, mineral fuels and oils, and wood pulp.

At the same time, Canadian merchandise imports from India reached $9.7 billion. Precious stones and metals, machinery and pharmaceutical products formed important parts of those imports.

Services add another major dimension. Canada exported $15.2 billion in services to India in 2025, while service imports from India reached $4.5 billion, an increase of 3% compared with 2024.

Education-related travel accounted for the largest share of Canadian service exports to India and represented 6.3% of Canada’s total service exports.

What could the CEPA mean for travel and tourism?

Although the negotiations are primarily focused on trade and investment, a stronger economic relationship could have wider implications for travel between the two markets.

Business delegations, trade missions, corporate investment and education activity can all contribute to international passenger demand. Increased commercial engagement may also support meetings, incentives, conferences and exhibitions, particularly as companies develop new partnerships.

Canada’s planned Team Canada Trade Mission to India next month could provide another platform for business-to-business engagement.

For airlines, airports, hotels and destination businesses, sustained growth in business, education and investment links can create additional opportunities, although the eventual travel impact will depend on wider market conditions, connectivity and demand.

What happens next in the CEPA negotiations?

The immediate focus is on continuing negotiations and narrowing outstanding gaps.

Four rounds have already been completed, and trade officials from both countries are expected to maintain discussions with the shared objective of concluding the CEPA by the end of 2026.

The proposed agreement therefore remains a work in progress. Its final economic impact will depend on the terms ultimately negotiated and implemented.

For Canada and India, however, the latest Mumbai discussions signal continued efforts to build a broader and more diversified commercial relationship.

Conclusion

Canada and India are entering an important stage in their CEPA negotiations, with both sides seeking to expand trade and investment while creating new commercial opportunities. The proposed agreement is being pursued against a $70 billion annual two-way trade ambition for 2030.

The cause is clear: Canada wants to diversify its international trade, while India offers a large and growing market for goods, services, technology and investment. The answer is deeper bilateral economic cooperation through negotiations covering a broad range of commercial interests. The reason is the scale of the existing relationship and the potential for further growth.

For the travel industry, stronger business, education and investment connections could support international mobility and corporate travel. However, the CEPA remains under negotiation, and its eventual effects will depend on the final agreement.