India-Canada trade talks: B2B engagements, CEPA push next as Goyal heads to Toronto
Synopsis
India has sent its largest-ever business delegation to Canada — over 100 companies — with Commerce Minister Piyush Goyal leading B2B roundtables in Toronto after high-level Ottawa meetings. The real prize: a CEPA that both sides say could take bilateral trade from $8.5 billion to $50 billion by 2030, a target that will test whether this diplomatic reset has commercial teeth.
Key Takeaways
Commerce Minister Piyush Goyal leads industry roundtables and B2B engagements in Toronto on 26–27 May 2026 after Ottawa ministerial meetings.
India's delegation comprises leaders from over 100 companies — the largest-ever Indian business delegation to Canada.
Bilateral trade stands at approximately $8.5 billion ; both governments target $50 billion by 2030 .
Canadian PM Mark Carney called the proposed free trade agreement 'a game changer, unlocking a massive new market.' Goyal met Canada's ministers of international trade, agriculture, and foreign affairs to advance CEPA negotiations.
Priority sectors flagged include infrastructure, renewable energy, logistics, digital infrastructure, and consumer markets.
Commerce and Industry Minister Piyush Goyal will lead India's largest-ever business delegation through a packed schedule of industry roundtables and business-to-business engagements in Toronto on 26–27 May 2026, following high-level ministerial meetings in Ottawa, as both countries push to translate political goodwill into concrete commercial deals. The government confirmed the programme on Tuesday, framing it as the next phase of a sustained bilateral reset.
The Mandate Behind the Visit
The Toronto leg carries forward a mandate set by Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during Carney's New Delhi visit in March 2026. The Indian delegation — comprising industry leaders from over 100 companies — is described by the Commerce Ministry as the largest such delegation ever sent to Canada, signalling the scale of ambition behind the economic re-engagement.
Bilateral trade currently stands at approximately $8.5 billion. Both governments have set a shared target of scaling this to $50 billion by 2030 — a near-sixfold increase that hinges significantly on the early conclusion of the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
Key Meetings in Ottawa
In Ottawa, Goyal held a series of high-level meetings with senior Canadian ministers. Calling on Prime Minister Carney, Goyal conveyed greetings from Prime Minister Modi; both sides expressed optimism about an early conclusion of the CEPA. Carney described the proposed free trade agreement as 'a game changer, unlocking a massive new market.'
Goyal also held bilateral discussions with Minister of International Trade Maninder Sidhu on advancing CEPA negotiations, and met Minister of Agriculture and Agri-Food Heath MacDonald to discuss food security, sustainability, and agri-technology cooperation. Wide-ranging talks with Foreign Minister Anita Anand covered trade, investment, and technology linkages under the India-Canada Strategic Partnership.
Sectors in Focus
Goyal highlighted India's expanding infrastructure, renewable energy, logistics, digital infrastructure, and consumer sectors as priority areas offering significant opportunities for long-term Canadian investment. The CEPA, once concluded, is expected to deepen the bilateral economic relationship and deliver tangible benefits to businesses and citizens of both countries, according to the ministry.
What the Toronto Programme Aims to Achieve
The industry roundtables and B2B engagements in Toronto are designed to move beyond ministerial-level commitments and establish direct commercial partnerships across priority sectors. This comes amid sustained high-level engagement between the two countries since mid-2025, marking a significant warming after a period of diplomatic strain. The outcomes of the Toronto meetings are expected to feed directly into the CEPA negotiation framework.
Point of View
But the India-Canada CEPA has been in various stages of negotiation for years — progress has repeatedly stalled on sensitive issues including market access for agricultural goods and mobility of professionals. The $50 billion trade target by 2030 demands an average annual growth rate that neither economy has sustained in this bilateral corridor. The real test of this reset is not the number of B2B meetings held in Toronto, but whether CEPA negotiations produce a signed text before the next political cycle disrupts momentum on either side.
NationPress
24 Jul 2026
Frequently Asked Questions
What is the India-Canada CEPA and why does it matter?
The India-Canada Comprehensive Economic Partnership Agreement (CEPA) is a proposed free trade deal aimed at significantly expanding bilateral commerce. With bilateral trade currently at approximately $8.5 billion, the agreement is seen as the primary vehicle for reaching the shared $50 billion target by 2030.
Why is Piyush Goyal visiting Canada in May 2026?
Commerce and Industry Minister Piyush Goyal is on a three-day visit to Canada to advance bilateral trade and economic ties, with a focus on accelerating CEPA negotiations. The visit includes high-level ministerial meetings in Ottawa and industry roundtables with B2B engagements in Toronto on 26–27 May.
What did Canadian PM Mark Carney say about the trade deal with India?
Prime Minister Mark Carney described the proposed free trade agreement with India as 'a game changer, unlocking a massive new market,' signalling strong political backing for an early conclusion of the CEPA.
Which sectors are India and Canada focusing on for investment and trade?
Key sectors highlighted include infrastructure, renewable energy, logistics, digital infrastructure, consumer markets, agriculture, food security, and agri-technology. These were discussed across Goyal's meetings with Canadian ministers of trade, agriculture, and foreign affairs.
How significant is the Indian business delegation to Canada?
The delegation, comprising industry leaders from over 100 companies, is described by India's Commerce Ministry as the largest-ever Indian business delegation to Canada, reflecting the scale of the bilateral economic re-engagement underway since mid-2025.
