Carney to visit India in ‘26 as nations target big trade deal

Canadian Prime Minister Mark Carney has accepted Prime Minister Narendra Modis invitation to visit India next year even as the two countries have embarked on a comprehensive economic partnership agreement to double trade (between the ‘two countries) to $50 billion (CAD 70 billion) by 2030.

- Anirudh Bhattacharyya and Rajeev Jayaswal

Prime Minister Narendra Modi with his Canadian counterpart Mark Carney on the sidelines of G20 Summit in Johannesburg.

(ANI)

Union commerce minister Piyush Goyal described the deal asa “high ambition” one, adding that the “strengths of Canada, and strengths of India, together can become a force multiplier for businesses, for investors...”

Goyal’s comments, on Monday, ina talk in Delhi to the IndoCanadian Business Chamber, came even as the Canadian PMO said in a statement that such a comprehensive trade deal could serve as a “powerful economic anchor” between the two countries.

The decision to launch negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) was announced following a bilateral meeting between PM Modiand his Canadian counterpart Carney on the margins of the G20 Leaders’ Summit in Johannesburg on Sunday.

A readout of the meeting issued by the Canadian PMO on Sunday said, “The leaders expressed confidence that the CEPA will serve as a powerful economic anchor and help more than double two-way trade to

CAD 70 billion by 2030.”

The two countries also agreed to “enhance diplomatic staffing levels to meet growing consular demands and to strengthen people-to-people linkages, including through reciprocal knowledge transfer”.

The comprehensive trade talks that the two countries will soon embark on will be more expansive than the earlier ones that were discontinued in September 2023 because of a diplomatic row, two people aware of the development said, requesting anonymity.