India, Canada to launch fresh talks for trade pact

New Delhi: India and Canada are looking to start fresh negotiations for a trade pact that will set an ambitious target of $70 billion annual trade by 2030. The issue is likely to feature prominently when Canadian Prime Minister Mark Carney meets Prime Minister Narendra Modi here on March 2.

Trade negotiations between the two countries, which began in 2010, have stalled multiple times. However in November, Modi and Carney agreed to formally relaunch talks on the Comprehensive Economic Partnership Agreement (CEPA), which is expected to cover trade in goods and services, investments, agriculture and digital commerce.

India's high commissioner to Canada Dinesh Patnaik is of the view that the two countries could conclude the agreement within a year.


In 2024, two-way merchandise trade between Canada and India reached $13.3 billion. Canadian exports totalled $5.3 billion, led by vegetables, mineral fuels and oils, and wood pulp. Merchandise imports from India amounted to $8 billion, primarily consisting of pharmaceutical products, machinery and equipment, and electronics. Services trade also grew significantly in 2024. Canada's service exports to India were $15.2 billion, an increase of 18.2% from 2023,

Carney will pay a four-day visit to India beginning this week, Ottawa said in an announcement on Monday.