India and Canada Launch Trade and Investment Forum
India and Canada have launched a new forum for trade and investment designed to strengthen economic relations and enhance business collaboration between the nations, after Commerce and Industry Minister Piyush Goyal's three-day trip to Canada from May 25 to 27.
The two parties announced the initiation of the Canada-India Trade and Investment Forum, which will function as a specialized platform for enterprises from both nations to establish commercial collaborations and enhance economic interaction.
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The Ministers established the Canada-India Trade and Investment Forum as a significant platform that connects Canadian and Indian business leaders, promoting new commercial alliances and enhanced business collaboration.
India and Canada reiterated their dedication to progressing negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aiming to finalize discussions by the close of 2026.
The statement indicates that the suggested trade agreement is anticipated to enhance market access, reinforce resilient supply chains, and promote mutual economic growth.
During the visit, Canada received what was termed the largest Indian business delegation ever dispatched overseas. The two ministers talked about enhancing collaboration in areas such as clean energy, essential minerals, agri-food, advanced manufacturing, digital tech, and skills training.
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The Ministers highlighted the significance of improving connectivity between India and Canada — such as personal connections, business mobility, and direct commercial relationships — as crucial facilitators of increased trade and investment.
The joint statement emphasized the significance of enhancing connectivity between the two nations by fostering stronger people-to-people connections, business mobility, and direct commercial relationships to promote trade and investment expansion.
Sidhu also confirmed that Canada will spearhead a Team Canada Trade Mission to India later this year, indicating increasing interest from Canadian firms in broadening operations and partnerships within the Indian market.
The two nations also concurred to promote sustained investments in key sectors and enhance cooperation among enterprises, innovators, and institutional stakeholders.
The ministers pledged to uphold consistent communication and strive for tangible economic results in the upcoming months.
India and Canada seek to finalize the long-anticipated Comprehensive Economic Partnership Agreement (CEPA) by the end of this year or sooner, stated commerce minister Piyush Goyal. Goyal, currently on a three-day visit to Canada with over 110 business representatives from India, conducted an official bilateral meeting with Canada's International Trade Minister, Maninder Sidhu, in Ottawa.
Although both nations sought the FTA, in 2023, Canada halted the FTA discussions due to increased diplomatic tensions arising from allegations connected to the death of Hardeep Singh Nijjar. Nonetheless, ties started to stabilize after a face-to-face discussion between Prime Minister Narendra Modi and Canadian leaders during the G7 Summit in Kananaskis.
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Amidst other conversations, India seeks to investigate potential import options for essential minerals, gas, and fuel from Canada. Goyal states that Canada will be ‘a dependable partner for energy supply’ for India. Goyal will meet with Canada's "Maple 8" pension funds to pursue long-term capital investments in India's infrastructure and technology fields.