India, Canada Aim To Conclude Trade Pact By Year-End Launch New Investment Forum

(MENAFN- Live Mint) India and Canada on Friday reaffirmed their commitment to strengthening bilateral trade and investment ties, with both sides aiming to conclude negotiations for 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 minister of international trade of Maninder Sidhu and India's commerce and industry minister Piyush Goyal discussed ways to deepen economic engagement in sectors such as clean energy, critical minerals, agri-food, advanced manufacturing, digital technologies and skills development.

In a joint statement issued by the commerce ministry, both ministers emphasized that the proposed CEPA would help expand market access, strengthen resilient supply chains and support two-way economic growth.

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

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The two sides also formally launched the Canada-India Trade and Investment Forum, envisaged as a platform to bring together businesses from both countries and facilitate new commercial partnerships and investments.

The ministers underlined the importance of improving connectivity between India and Canada, including stronger people-to-people ties, enhanced business mobility and direct commercial linkages, to further boost trade and investment flows.

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

India and Canada also agreed to encourage long-term investments in priority sectors and deepen collaboration among businesses, innovators and institutional partners. Both sides committed to maintaining regular dialogue and advancing concrete outcomes in the coming months.

The latest developments signal renewed momentum in India-Canada economic ties after recent high-level ministerial engagements, with trade negotiations now gaining fresh urgency amid shifting global supply chains and geopolitical realignments.

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

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

According to a statement issued by the commerce ministry, discussions centered on expanding opportunities for global businesses in India, enhancing supply-chain resilience and deepening cooperation across sectors such as financial services, healthcare, manufacturing, digital payments, artificial intelligence, innovation and emerging 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 supply-chain diversification efforts by multinational corporations.

The minister also addressed a gathering of more than 50 leading business and investment executives at an interaction organised in collaboration with the US-India Strategic Partnership Forum. Discussions during the event focused on India's economic growth trajectory, ongoing reforms, ease of doing business and emerging investment opportunities across sectors.

The engagements highlighted growing investor confidence in India's economic outlook and underscored efforts by the government to deepen industry-to-industry collaboration between India and the United States.

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

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