The BRICS TimesIndia’s Commerce Minister Piyush Goyal leading the biggest-ever Indian business delegation to Canada says both nations could seal their long-awaited free trade agreement before the year runs out, or even earlier. With bilateral trade targeted to triple to $50 billion by 2030, New Delhi and Ottawa are moving fast to close one of the most anticipated economic partnerships in recent years.
IndGia and Canada Are Moving Fast on Trade
India and Canada are picking up serious speed in resetting their once-strained relationship and the results may come sooner than most people expected. Commerce and Industry Minister Piyush Goyal arrived in Ottawa on May 25 for a three-day official visit leading the largest-ever Indian business delegation to step foot on Canadian soil. The delegation included over 112 companies spanning energy, mining, pharmaceuticals, telecom, artificial intelligence, automotive, leather, and textiles. That kind of firepower signals one thing clearly: both countries mean business.
Speaking alongside Canada’s International Trade Minister Maninder Sidhu at a joint media address in Ottawa, Goyal said the relationship is moving fast. “It has set in motion the pathway to a complete overhaul of this relationship, setting new agendas, new goals in mission mode,” he said. The message was unambiguous both governments want a deal, and they want it quickly.
Both Prime Ministers Have Tasked Negotiators to Move Quickly
The biggest headline out of Goyal’s visit was his confirmation that both Prime Ministers have directly pushed their negotiating teams to conclude a Comprehensive Economic Partnership Agreement widely referred to as CEPA before the end of 2026, or even earlier. “Our Prime Minister has directed us to complete the free trade agreement with a comprehensive approach before the end of this year, or even earlier,” Goyal said. He added that both countries are targeting a dramatic increase in bilateral trade from the current $8.5 billion to $50 billion by 2030.
Two rounds of CEPA negotiations have already been completed the first held virtually in March 2026, and the second wrapping up on May 8. A concurrent technical round was running in Ottawa from May 25 to 29, even as Goyal held meetings across the Canadian capital. This kind of parallel-track approach shows how seriously both sides are treating the timeline.
Carney Calls It a “Game Changer”
Canadian Prime Minister Mark Carney who visited New Delhi in February 2026, marking the first Canadian PM’s visit to India in eight years met Goyal during the Ottawa trip and described the proposed trade agreement in strong terms. “We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses by opening access to a massive new market,” Carney posted on social media.
Goyal, who conveyed greetings from Prime Minister Narendra Modi to Carney, discussed deepening cooperation across trade, investment, technology, agriculture, and strategic sectors. Canada’s “Team Canada” business delegation is expected to visit India later this year mirroring the scale and intent of India’s current mission to Ottawa.
A Relationship Reset After Years of Strain
The backdrop to all this optimism is important. India–Canada trade talks were first launched back in 2010 but collapsed entirely in 2023 after Ottawa accused New Delhi of involvement in the killing of Sikh separatist activist Hardeep Singh Nijjar near Vancouver. India denied the allegations. The fallout was sharp diplomatic expulsions, frozen talks, and a near-complete freeze in bilateral engagement.
The thaw came when Carney took office and visited New Delhi, signing Terms of Reference for the CEPA and sealing a landmark CAD 2.6 billion uranium supply deal. Goyal called the reset remarkable in its pace. “It has completely changed the way India and Canada looked at each other,” he said.
Wide-Ranging Meetings Across Ottawa
During his visit, Goyal also met Canadian Foreign Minister Anita Anand discussing trade, investment, technology, and strategic partnerships. He highlighted India’s expanding infrastructure, renewable energy, logistics, digital infrastructure, and consumer sectors as areas rich with investment opportunity for Canada. Anand, in turn, said she discussed strengthening and expanding the trade relationship to create new opportunities for businesses and workers on both sides.
Goyal also held talks with Agriculture Minister Heath MacDonald and Trade Minister Sidhu on food security, agri-tech, sustainability, and supply chain cooperation. Sidhu said Canada is looking at a “Team Canada” trade delegation to India a reciprocal show of commitment. “We feel empowered to be able to make rapid progress to deliver results not only to businesses, but to the people of both countries,” Goyal said summing up the mood of the visit.
What’s at Stake for Both Economies
The CEPA if concluded would significantly reduce or eliminate customs duties across a wide range of goods, ease movement of skilled professionals, and unlock fresh investment flows between the two economies. Both sides have identified clean energy, critical minerals, artificial intelligence, pharmaceuticals, aerospace, and agri-tech as priority sectors for collaboration.
With two of the world’s largest democracies and two countries with deep people-to-people connections moving this quickly toward a trade deal, 2026 could turn out to be a landmark year for India–Canada economic history.
Aditya Didwaniya
Akshay Didwaniya
Mayur Mohta
