India and Canada Pursue Economic Partnership Pact

India and Canada have begun negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aiming to finalize the pact soon. The Terms of Reference were signed by both nations' commerce ministers in the presence of their prime ministers, setting the stage for ongoing negotiations to establish an ambitious, balanced deal.

India and Canada have initiated talks for a free trade agreement, seeking to finalize the Comprehensive Economic Partnership Agreement (CEPA) promptly, an official statement revealed on Monday.

Commerce and Industry Minister Piyush Goyal and Canada's Commerce Minister Maninder Sidhu signed the Terms of Reference (ToR) for the agreement. The ceremony, held in New Delhi, was graced by Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney at Hyderabad House.

The ToR outlines the format, frequency, and approach for CEPA negotiations, acting as a blueprint to facilitate discussions toward establishing an ambitious, balanced, and mutually beneficial economic partnership between the two nations.

(With inputs from agencies.)