Canada and India advance trade deal talks as businesses secure nearly $300 million in agreements

Floyd Brenz., Philippine Canadian Inquirer
October 17, 2026

Photo Courtesy: The Canadian Press

Canada and India are moving closer to a new economic partnership agreement after a major Canadian trade mission to India resulted in 34 commercial agreements valued at nearly $300 million.

International Trade Minister Maninder Sidhu led almost 300 Canadian business representatives and exporters to Mumbai and Bengaluru, while also meeting Indian Commerce and Industry Minister Piyush Goyal in New Delhi and Mumbai to advance negotiations on a proposed Comprehensive Economic Partnership Agreement.

The agreement, which both countries hope to finalize by the end of 2026, is intended to expand trade and investment between the two economies. Discussions cover key industries, including aerospace, clean technology, energy, information and communications technology, infrastructure, life sciences and agriculture.

Canada is aiming to double its annual two-way trade with India to $70 billion by 2030. Trade in goods and services between the two countries reached $30.4 billion in 2025, underscoring the potential for further economic cooperation.

The renewed push comes as Prime Minister Mark Carney seeks to diversify Canada’s trading relationships and reduce its reliance on the United States. The strategy has gained urgency amid continuing trade tensions and U.S. tariffs affecting Canadian industries.

The proposed agreement also marks a significant step in rebuilding relations between Ottawa and New Delhi. Trade negotiations were suspended in 2023 following a diplomatic dispute over allegations of Indian government involvement in the killing of a Canadian Sikh activist in British Columbia, which India denied.

Carney has made improving ties with India a priority since taking office in 2025. His visit to the country in March helped restart high-level engagement, with both governments subsequently pursuing closer commercial cooperation.

Indian Prime Minister Narendra Modi is expected to visit Toronto and Ottawa on December 11 and 12, ahead of the G20 summit in Miami. The visit could provide another opportunity for the two countries to demonstrate progress in their economic relationship.

For Canadian businesses, a comprehensive agreement could create broader access to India’s large and rapidly growing market. For both governments, the challenge will be turning the recent commercial deals and diplomatic progress into a lasting partnership.