India and Canada have reaffirmed their commitment to conclude a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, signalling a fresh push to deepen economic ties between the two countries.
The commitment followed the inaugural India-Canada Finance Ministers’ Economic and Financial Dialogue in Toronto, where officials discussed ways to expand bilateral commerce, investment and financial cooperation. Both sides are also looking to broaden the relationship beyond conventional trade in goods and services.
The proposed CEPA is expected to improve market access, reduce trade barriers and create new opportunities for businesses in both countries. India and Canada have also set an ambitious target of increasing bilateral trade to around $70 billion by 2030, reflecting their intention to significantly expand economic engagement.
The two countries are additionally preparing to accelerate discussions on a Bilateral Investment Treaty, which could provide greater certainty and protection for investors. Cooperation in critical minerals, financial services, cross-border payments and other strategic sectors is also emerging as an important part of the broader economic partnership.
The renewed trade push comes after a period of strained bilateral relations. However, both governments have recently sought to rebuild economic and diplomatic engagement, with trade and investment emerging as key areas of cooperation.
India’s bilateral trade in goods with Canada was valued at approximately CAD 13.55 billion in 2025, according to India’s High Commission in Ottawa.
Completing the CEPA by the end of 2026 would mark a significant milestone in the reset of India-Canada economic relations and could open new avenues for businesses, investors and exporters in both markets.
