Canada and India Sign Trade Deals to Boost Exports
Canada's Minister of International Trade led a trade mission to India, signing commercial agreements and setting a 2026 deadline for a comprehensive economic partnership.
Canadian and Indian entities signed multiple commercial agreements and Memoranda of Understanding on October 16 during the Canada-India Business Ceremony in Karnataka. Maninder Sidhu, Canada's Minister of International Trade, led the Team Canada Trade Mission to India to facilitate these partnerships and explore expansion opportunities.
Parallel to the ceremony, the Indian Ministry of Commerce and Industry confirmed a target to conclude negotiations for a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026. This follows a fifth round of negotiations held in Ottawa from October 5 to October 9, with the next round of bilateral discussions scheduled for early November in New Delhi.
The proposed CEPA aims to reduce trade barriers and is projected to increase bilateral trade by between USD 4.4 billion and USD 6.5 billion by 2035. For Canada, the agreement is expected to provide a GDP gain of up to USD 5.9 billion as the country seeks to double its non-U.S. exports over the next decade.
