Reviving Economic Ties: India and Canada Aim for Ambitious Trade Deal

India and Canada have agreed to resume negotiations for a high-ambition Comprehensive Economic Partnership Agreement (CEPA) to boost bilateral trade to USD 50 billion by 2030. This strategic move underscores both countries' commitment to strengthening economic ties and exploring collaborative opportunities in critical minerals and nuclear energy.

In a significant move to strengthen economic ties, India and Canada have resumed negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aiming to enhance bilateral trade to USD 50 billion by 2030. Announced by Commerce and Industry Minister Piyush Goyal, the CEPA signifies mutual trust and potential growth for investors and businesses.

The agreement seeks to leverage the strengths of both nations, with a focus on critical minerals, nuclear energy, and emerging technologies such as artificial intelligence and quantum computing. Minister Goyal emphasized the importance of actionable outcomes and a clear roadmap for enhancing collaborations in these key areas.

After negotiations were initially paused due to diplomatic tensions, the renewed dialogue follows discussions at the G7 summit and signals robust economic engagements. With historical ties gaining momentum, India and Canada appear committed to transforming dialogue into concrete trade achievements.

(With inputs from agencies.)