During a business event in Toronto, Piyush Goyal, India's Commerce and Industry Minister, stated that India and Canada are negotiating a Comprehensive Economic Partnership Agreement (CEPA) with the objective of finalizing it by October 2026. Both countries recognize significant opportunities for economic collaboration across sectors such as innovation, seafood, education, and biotechnology. Goyal mentioned that the Prime Ministers of India and Canada have directed officials to work diligently towards this goal. The current bilateral trade stands at approximately $17 billion, with aspirations to elevate it to $50 billion by 2030. Goyal noted that the sincerity of both negotiating teams could lead to an earlier conclusion than anticipated. The Indian delegation, comprising over 100 industry leaders, represents various sectors, highlighting the potential for enhanced trade relations. Notably, negotiations had previously been suspended due to diplomatic issues, but were resumed following a meeting between Prime Ministers Modi and Carney in June 2025. Goyal emphasized the importance of nurturing the bilateral relationship despite past misunderstandings.