AMN / Toronto/New Delhi
India and Canada have reiterated their commitment to significantly expand bilateral economic engagement, setting a target of increasing two-way trade to 50 billion US dollars by 2030 while aiming to conclude negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA) by the end of this year.
The renewed push for deeper commercial ties came during Commerce and Industry Minister Piyush Goyal’s meetings with senior Canadian ministers, institutional investors and corporate leaders during the second day of his visit to Canada.
According to the Commerce and Industry Ministry, discussions focused on strengthening investment flows, technology partnerships and sector-specific collaboration amid growing economic complementarities between the two countries.
During his meeting with Canada’s International Trade Minister Maninder Sidhu, Mr Goyal stressed the importance of creating a more predictable and business-friendly ecosystem through stronger government-industry cooperation. Both sides underlined the need to accelerate economic engagement in areas such as infrastructure, advanced manufacturing, financial services and innovation-driven sectors.
A key highlight of the visit was the Canada-India Investment Roundtable, jointly chaired by the two ministers and attended by leading Canadian pension funds, banks and major institutional investors. Discussions centred on India’s ongoing infrastructure expansion, financial sector reforms and efforts to improve ease of doing business, which officials said are opening substantial opportunities for global investors.
Mr Goyal invited Canadian investors to deepen their participation in India’s growth story and explored avenues for enhanced collaboration in financial markets to support long-term sustainable growth and shared prosperity.
The minister also held separate meetings with leading Canadian companies from sectors including insurance, food processing and financial services. The talks focused on India’s macroeconomic outlook, the availability of skilled STEM talent, the rapid rise of Global Capability Centres (GCCs), and the government’s Production Linked Incentive (PLI) schemes aimed at attracting strategic investments.
Industry leaders also discussed India’s evolving regulatory framework and the expanding opportunities for foreign businesses seeking to diversify global operations and supply chains.
Addressing members of the Indian diaspora in Canada, Mr Goyal described the community as a vital bridge in strengthening the India-Canada business corridor. He said the diaspora can play a major role in expanding trade and investment ties while also promoting cultural exchanges and supporting the growth of Indian enterprises across Canada.