Piyush Goyal Engages Canadian Leaders to Advance India-Canada Trade Pact
Piyush Goyal in Canada to fast-track 'game changer' trade pact CEPA
Image: Asianet Newsable
Union Commerce and Industry Minister Piyush Goyal is in Canada to expedite negotiations for the Comprehensive Economic Partnership Agreement (CEPA) with Canadian leaders. The agreement aims to enhance trade and investment ties, targeting a conclusion by 2026 and expanding bilateral trade from USD 8.5 billion to USD 50 billion by 2030.
- 01Piyush Goyal is leading the largest-ever Indian business delegation to Canada, with over 100 companies represented.
- 02Canadian Prime Minister Mark Carney described the CEPA as a 'game changer' for both nations.
- 03The CEPA negotiations are expected to conclude by the end of 2026, with a focus on balanced and commercially meaningful terms.
- 04Discussions included agricultural cooperation and Canadian investments in India's infrastructure and renewable energy sectors.
- 05Bilateral trade between India and Canada is currently valued at approximately USD 8.5 billion, with a goal to reach USD 50 billion by 2030.
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Union Commerce and Industry Minister Piyush Goyal is in Canada to accelerate discussions on the proposed Comprehensive Economic Partnership Agreement (CEPA) between India and Canada. Accompanied by a delegation of over 100 Indian business leaders, Goyal met with Canadian Prime Minister Mark Carney, who emphasized the agreement's potential as a 'game changer' for both countries. The two sides expressed optimism about finalizing the CEPA by the end of 2026, aiming to enhance trade and investment ties significantly. Key discussions also focused on agricultural cooperation and investment opportunities in sectors such as infrastructure and renewable energy. Currently, bilateral trade stands at approximately USD 8.5 billion, with both nations targeting an ambitious expansion to USD 50 billion by 2030. The visit reflects renewed momentum in economic engagement following Carney's earlier visit to India, with ongoing negotiations set to further strengthen bilateral relations.
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The CEPA is expected to create significant trade and investment opportunities for businesses in both India and Canada.
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