Canada-India Trade Deal Targets $70 Billion Bilateral Mark
India and Canada are pushing to conclude their long-pending free trade agreement by the end of 2026, aiming to more than double their bilateral trade from around $30 billion to nearly $70 billion within the next five years.
The fifth round of Comprehensive Economic Partnership Agreement (CEPA) negotiations is set to begin in Ottawa after the fourth round was held in Mumbai last week.
According to Canadian International Trade Minister Maninder Sidhu, energy and critical minerals are at the centre of the strategic economic alignment between the two countries. 'India's economy is growing at 7% year-over-year, and the country will require 70% more energy by 2035,' he said.
Sidhu pointed to opportunities in critical minerals to support India's supply-chain diversification, particularly for its growing automotive, electric vehicle, and battery sectors. He noted that Canada is the only country in the Western Hemisphere with every element needed to build an EV battery supply chain.