Shillong: India and Canada kicked off the fourth round of talks for a Comprehensive Economic Partnership Agreement on Monday in New Delhi. Negotiators have five days to address trade in goods, services, rules of origin, and technical trade barriers. This round picks up from the third session held in Ottawa back in July. Officials aim to wrap up the deal before the year ends.
Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney set this deadline during a March meeting in New Delhi. They also committed to deeper ties in energy and critical minerals. The two leaders signaled that a trade framework would act as a vital economic anchor. The goal is ambitious. They want to grow bilateral trade to 70 billion Canadian dollars by 2030, according to a joint statement: "The leaders expressed confidence that a comprehensive trade framework would serve as a durable economic anchor for the partnership and support the shared aspiration of expanding bilateral trade to (Canadian) $70 billion (Rs 4.65 lakh crore) by 2030."
Economic numbers are rising. Bilateral trade in goods reached 8.66 billion dollars in 2024-25, with India exporting 4.22 billion dollars worth of products. India ships out drugs, machinery, iron and steel, electronics, chemicals, jewelry, textiles, and seafood. Imports from Canada consist of pulses, fertilizers, fuel, wood pulp, aircraft parts, and scrap metals. IT services remain India's top export sector.
Diplomatic tension has faded. Ties suffered under former Prime Minister Justin Trudeau, whose government faced criticism for allegedly allowing Sikh extremists to push anti-India agendas. Prime Minister Carney's recent visit signaled a sharp improvement in the relationship between the two nations.
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