India, Canada to reboot trade deal talks after 2 yrs

Govt calls for deeper ties in critical minerals and N-power

- SHREYA NANDI & SAKET KUMAR

After a gap of more than two years amid a tumultuous bilateral relationship, India and Canada have finalised a broad framework and agreed to restart negotiations for a Comprehensive Economic Partnership Agreement (Cepa).

Prime Minister Narendra Modi and his Canadian counterpart, Mark Carney, met late on Sunday on the sidelines of the G20 Summit in Johannesburg and agreed to advance relations in trade, investment, technology & innovation, energy, education, defence, and the space sector.

“India and Canada have great potential in strengthening trade and investment linkages. We have set a target of $50 billion by 2030 for our bilateral trade. Canadian Pension Funds are also showing keen interest in Indian companies,” Modi posted on X.

Speaking at the Indo-Canadian Business Chamber's annual national convention on Monday in New Delhi, Union Commerce and Industry Minister Piyush Goyal said both countries had finalised the terms of reference and decided to launch and fast-track free-trade agreement negotiations.

“The recent meetings that Prime Minister Modi and Prime Minister Mark Carney have had, including the one very recently at the G20 Summit, clearly give a direction for the future of the Canada-India relationship. They have agreed to begin negotiations for a high-ambition comprehensive economic partnership agreement,” the minister said.