IGI Logo

Commerce and Industry Minister Piyush Goyal has said that India and Canada have decided to prioritize low-hanging fruit, work on areas of convergence and avoid seeking concessions in sensitive sectors in the negotiations for the Comprehensive Economic Partnership Agreement (CEPA). Goyal concluded a highly productive and landmark three-day visit to Canada on May 28, 2026. During his visit, he met government representatives, businesses, investment companies, pension funds, and insurance companies.

The two countries are currently conducting the third round of negotiations in Ottawa, aiming to conclude the CEPA negotiations by year-end. The two sides have set a target to increase bilateral trade from the current $17 billion to $50 billion by 2030. In such pacts, two trading partners significantly reduce and eliminate import duties on the maximum number of goods traded between them. Besides, they also ease norms to promote trade in services and boost investments.

Seeking investment from Canadian firms, the minister said India is known for protecting intellectual property. He said India has firmly established itself as the third-largest startup ecosystem in the world, with about 2.3 lakh entities registered as startups. He said the digital public infrastructure is another area where India has demonstrated tremendous capabilities to the world, as well as offered itself and these technologies for wider public good across the world. He added that vast potential for bilateral cooperation is there in sectors such as artificial intelligence (AI), cleantech, agritech, and deep tech.