India and Canada Aim for Comprehensive Trade Pact by Year-End

Piyush Goyal, Commerce and Industry Minister, announced ongoing trade negotiations between India and Canada could conclude by year's end. Both nations aim to enhance collaborations across multiple sectors, striving for a trade milestone of USD 50 billion by 2030.

India and Canada are actively engaged in finalizing a free trade agreement, with the aim of completing negotiations by the end of the current year. Speaking in Toronto, Piyush Goyal, leading India's delegation, highlighted the significant economic potential between the two countries across diverse sectors such as technology, education, and pharmaceuticals. "The opportunities are so huge that ultimately good economics will ensure a good partnership today," he remarked.

This effort towards a Comprehensive Economic Partnership Agreement (CEPA) comes after a previous setback in talks due to diplomatic tensions. The renewed talks, now poised with optimism, promise to elevate bilateral trade from USD 17 billion to USD 50 billion by 2030. The Canadian trade minister is expected to visit India by November, reinforcing the commitment to swift and successful negotiations. Goyal emphasized the potential for economic growth through collaboration in energy and digital infrastructure.