A proposed free trade agreement between Canada and India could significantly transform economic relations, according to Mark Carney, who hailed the initiative as a “game changer” during discussions with India’s commerce minister Piyush Goyal in Ottawa. The talks centered on the Comprehensive Economic Partnership Agreement (CEPA), with both nations hopeful about concluding the deal by the end of the year. Carney emphasized that the agreement has the potential to unlock substantial opportunities for Canadian workers and businesses, particularly in the energy, agriculture, technology, and education sectors.
Piyush Goyal, conveying greetings from Indian Prime Minister Narendra Modi, highlighted the focus on strengthening long-term bilateral relations and expediting trade negotiations. Canada’s international trade minister, Maninder Sidhu, also participated in the discussions. Both countries have already completed two rounds of negotiations, with Canada preparing to host the next session to advance the talks further.
The visit by Goyal is accompanied by a major business delegation from India, comprising over 100 business representatives engaging in trade and investment dialogues in Toronto. This visit underscores the commitment to enhancing economic ties and exploring new avenues for collaboration between the two nations.
Additionally, Goyal met with Canadian foreign minister Anita Anand and agriculture minister Heath MacDonald as part of the concerted effort to deepen cooperation across multiple sectors. This renewed momentum marks a significant improvement in India-Canada relations, which had been strained in 2023 due to allegations related to the killing of Khalistan figure Hardeep Singh Nijjar in Canada, accusations that India had dismissed under former Canadian Prime Minister Justin Trudeau.
The diplomatic climate has warmed considerably since Mark Carney assumed office in 2025, leading to a revival of diplomatic engagements and the relaunch of CEPA negotiations. The ongoing efforts to finalize this trade agreement reflect a mutual interest in fostering a robust economic partnership and overcoming past tensions.