In an effort to strengthen trade and business ties between the two nations, Commerce and Industry Minister Piyush Goyal will head a high-level trade and investment trip to Canada next year.
Goyal claims that the goal is to begin talks with Canada for the Comprehensive Economic Partnership Agreement (CEPA). India and Canada decided last month to have long-term ministerial meetings with their respective trade and investment communities at the beginning of the following year.
“Held a productive discussion with Minister Maninder Sidhu to advance the trade and commercial engagement with Canada. In order to get ready for the start of CEPA negotiations, we conducted preliminary scoping and extensive discussions on the general strategy, outlines, macro objectives, and procedures,” Goyal said in a post on X.
He added that he has consented to head a high-level mission to Canada for trade and investment in the coming year.
During his visit to India last month, Sidhu, Canada’s Minister of Export Promotion, International Trade, and Economic Development, emphasized the need to keep working with the private sector to open up new trade and investment opportunities.
Sidhu and Goyal highlighted the strength and continuity of the India–Canada economic partnership. The ministers reported that merchandise trade value reached $8.98 billion in 2024, up 10% from the previous year, and bilateral trade in goods and services reached $23.66 billion. They decided to encourage long‑term supply‑chain partnerships in essential minerals and clean energy collaboration to assist the energy transition.
The government claims that in order to find investment and trading opportunities in aerospace and dual-use capabilities that take advantage of the expansion of India’s aviation industry, they decided to broaden these relationships.
According to an official release, the ministers also emphasized the necessity of varied and dependable supply chains and the need to increase resilience in vital industries, such as agriculture.
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