Canada and India aim for $50 bn trade under new CEPA partnership

Canada and India are accelerating negotiations on a Comprehensive Economic Partnership Agreement (CEPA) that seeks to double bilateral trade to about $50 billion by 2030‑31. The current trade volume is roughly C$32 billion (about US$25 billion), and the deal targets expanding commerce in sectors such as critical minerals, energy, uranium, fertilizers, AI, quantum research and defence.

Indian High Commissioner Dinesh K Patnaik highlighted a forthcoming Indian business delegation of over 100 firms meeting Canadian industry groups, banks and logistics firms, while Union Commerce Minister Piyush Goyal’s visit underscores political will to finalise the agreement. The partnership also involves Canadian reforms under Prime Minister Mark Carney to streamline investment approvals, and a planned Canadian investment summit later in the year.

Both sides see the pact as a way to diversify supply chains away from China, with Canada positioning India as a key source of lithium, cobalt, rare earths and other critical minerals, and India eyeing Canadian uranium, potash and clean‑energy technologies.