India and Canada Set to Resume High-Ambition Trade Talks

India and Canada are resuming negotiations for a Free Trade Agreement with the goal of increasing trade to USD 50 billion by 2030. This initiative aims to strengthen economic ties and mutual trust, focusing on areas such as critical minerals and nuclear energy, despite previous diplomatic challenges.

India and Canada have announced the renewal of negotiations for a comprehensive Free Trade Agreement (FTA), targeting a substantial elevation of bilateral trade to USD 50 billion by 2030, as per Commerce and Industry Minister Piyush Goyal.

The FTA, or Comprehensive Economic Partnership Agreement (CEPA), is seen as a testament to the strong diplomatic rapport between the two countries, offering significant benefits to investors and businesses on both sides, Goyal emphasized during a recent event.

This strategic partnership aims to capitalize on mutual strengths, particularly in critical minerals and nuclear energy sectors, despite past diplomatic tensions. The two nations had experienced a setback in talks following allegations by former Prime Minister Justin Trudeau in 2023, which India had dismissed.