India-Canada Trade Talks Accelerate with $70 Billion Target

Canada and India aim to increase their bilateral trade from $30 billion to $70 billion over the next five years. The goal is part of ongoing free trade negotiations, which are expected to conclude in the coming months.

Canadian International Trade Minister Maninder Sidhu said that Canada wants to be a partner in India's growth and help build its economy. He pointed out that Canada has already invested over $100 billion in India, with Canadian companies involved in infrastructure projects such as building airports and highways.

The focus of the trade deal is on supply chain diversification, particularly in critical minerals and energy. Sidhu noted that India's economy is growing at 7% year-over-year and will require 70% more energy by 2035. Canada has the energy resources to meet this demand, with Prime Minister Carney recently launching the LNG Canada Phase 2 project.

The next round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) is scheduled to take place in Ottawa on October 5. The two countries have already agreed to fast-track negotiations and are aiming to conclude a comprehensive trade agreement by the end of 2026.