In Shorts
- India and Canada have recommitted to expanding bilateral trade, targeting up to $50 billion by 2030.
- Talks include finalising a Comprehensive Economic Partnership Agreement by the end of 2026.
- Leaders also agreed on deals spanning uranium supply, critical minerals, energy and defence cooperation.
New Delhi has emerged as the centre of a fresh diplomatic and economic push between India and Canada, as Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney reaffirmed commitments to significantly boost trade and strengthen cooperation.
During high-level discussions in the Indian capital, both leaders highlighted progress toward a Comprehensive Economic Partnership Agreement (CEPA) that they aim to complete by the end of 2026. This pact is expected to scale up two-way trade from around $9 billion currently to $50 billion by 2030, marking one of the most ambitious commercial goals between the two nations in years.
The renewed momentum comes after nearly two years of strained relations following diplomatic tensions sparked by allegations made in 2023. These disputes led to reciprocal diplomatic expulsions and disruptions in bilateral engagement. Yet, recent talks indicate both sides are prioritising economic partnership and strategic cooperation over past disagreements.
At the heart of the discussions was a series of sectoral agreements spanning critical minerals, energy, defence, and uranium supplies. Among them is a notable deal under which Canada’s major uranium producer will support India’s expanding nuclear energy sector.
The leaders also stressed collaboration in technology, agriculture, and broader supply chains, reflecting a shared vision of diversifying economic linkages while reducing dependence on more volatile markets. Canada, in particular, has framed the partnership as vital to its strategy of broadening trade relationships beyond the United States.
Prime Minister Modi described the engagement as a significant step toward rebalancing and expanding the India-Canada relationship, signalling that the former diplomatic crisis is now firmly in the past.
Analysts say this renewed push for economic ties comes at a time when both countries are seeking stable, long-term partners amidst global geopolitical flux. With CEPA negotiations underway and a roadmap for strategic cooperation being solidified, New Delhi and Ottawa appear determined to chart a deeper, forward-looking bilateral relationship.
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