Commerce and Industry Minister Piyush Goyal on Tuesday, 26 May 2026, addressed the opening Ministerial Plenary Session — titled 'From Political Reset to Commercial Delivery' — in Toronto, Canada, calling on Canadian businesses and industry leaders to become active participants in India's expanding economic journey. The session was held in the presence of Maninder Sidhu, Canada's Minister of International Trade.

Key Developments at the Toronto Session

Goyal highlighted India's ongoing drive to enhance ease of doing business and foster an investor-friendly environment. He underscored how the proposed Comprehensive Economic Partnership Agreement (CEPA) between the two countries would serve as a key catalyst in deepening trade and investment ties, opening fresh avenues for cross-sector collaboration.

'I am confident that the next chapter of the India-Canada economic partnership will be driven by trust, leading to the shared prosperity of our nations,' Goyal said.

From Ottawa to Toronto: A Full-Spectrum Business Push

Following high-level trade talks in Ottawa, Goyal led the Indian business delegation through an intensive programme of industry roundtables and business-to-business engagements in Toronto. The effort, according to the government, was aimed at translating ministerial-level commitment into concrete commercial partnerships across priority sectors.

Notably, Goyal arrived in Ottawa heading the largest-ever Indian business delegation to Canada, comprising industry leaders from over 100 companies — a landmark step in the full revival of bilateral economic relations, according to the Commerce Ministry.

The Modi-Carney Mandate Behind the Visit

The three-day visit carries forward the mandate set by Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during Carney's New Delhi visit in March 2026, and builds on sustained high-level engagement between the two countries since mid-2025. The visit focuses specifically on accelerating ongoing CEPA negotiations.

The $50 Billion Trade Target by 2030

Bilateral trade between India and Canada currently stands at approximately $8.5 billion. Both governments have set an ambitious shared target of scaling this to $50 billion by 2030 — a nearly six-fold increase that would require sustained momentum on investment, market access, and regulatory convergence. This comes amid a broader diplomatic reset between the two nations following a period of diplomatic strain.

What Comes Next

With CEPA negotiations at the centre of the agenda and the largest-ever Indian business delegation on Canadian soil, the commercial follow-through from this visit will be closely watched. The real measure of success will be how many of the B2B engagements in Toronto translate into signed agreements and capital flows in the months ahead.