Full Breakdown
Canada-India CEPA Negotiations Near Year-End Target
By Drooid · · How we work
Negotiations Accelerate Toward Year-End Completion
Canada’s Minister of International Trade Maninder Sidhu told Reuters in Mumbai on September 19 that he is “very, very optimistic and energetic” about finalising a Comprehensive Economic Partnership Agreement (CEPA) with India before the end of 2026. He said Indian trade negotiators are expected to travel to Canada next month and that the two leaders could meet on the sidelines of the G-20 summit in December. The fourth round of talks in New Delhi aims to resolve the remaining chapters within an “intense week of negotiation.”
Background & Context
The negotiations were launched after the Terms of Reference were signed on March 2, 2026 by India’s Commerce Minister Piyush Goyal and Canada’s Trade Minister Maninder Sidhu, in the presence of Prime Ministers Narendra Modi and Mark Carney. The ToR set the format for talks on goods, services, investment, intellectual property, rules of origin, sanitary-phytosanitary measures and technical barriers. Both governments share an ambition to raise bilateral trade to US $50 billion by 2030.
Data & Statistics
- Trade volume: Indian data show two-way merchandise trade of US $7.95 billion in FY 2025-26, while Canadian data report US $10.9 billion for 2025.
- Sector focus: Canada has opened a Shell-led LNG export facility and is developing five additional projects. Discussions include Indian access, potential investment and long-term supply arrangements.
- Critical minerals & nuclear: Indian firms such as Reliance Industries and Mahindra are exploring investments in Canadian critical-mineral projects; Canada’s nuclear sector is also highlighted.
- Services trade: Canada’s services exports to India were C$15.6 billion in 2024, driven largely by education-related travel; imports from India were C$3.8 billion, mainly commercial services.
Official Statements & Responses
Sidhu emphasized the momentum of the talks, noting that “conversations with Indian firms” are underway on LNG access and investment. Goyal described the discussions as “fast-paced and substantive” and expressed confidence that an early conclusion would realise the trade target. The Ministry of Commerce and Industry reiterated the goal of expanding trade to US $50 billion by 2030.
Verbatim Quotes
- “We’re having conversations with Indian firms on how they can access those projects, but also how they can invest and secure supply in those projects,” — Maninder Sidhu, Canadian trade minister
- “Canada has a long history in the nuclear industry, and I do see a lot of benefit for Canadian companies and industries to help build up a supply chain here in India,” — Maninder Sidhu, Canadian trade minister
- “There's a lot of excitement to do more with India in terms of our economic partnership.” — Maninder Sidhu, Canadian trade minister
Conflicting Reports & Gaps
- Trade figures: Indian sources cite a two-way merchandise value of US $7.95 billion, whereas Canadian sources report US $10.9 billion.
- Project specifics: Sidhu declined to share detailed terms of the LNG and critical-mineral discussions, leaving the scale of prospective Indian investment unclear.
- Timeline certainty: No binding deadline beyond the year-end target has been set, and the exact schedule for the remaining chapter negotiations remains unspecified.
What’s Next
- Indian delegation travel: Indian trade negotiators are slated to visit Canada next month.
- G-20 summit: Canadian and Indian leaders may meet on the sidelines of the G-20 gathering in December.
- ASEAN consultation: Sidhu will attend the Fifteenth ASEAN Economic Ministers-Canada Consultation in Manila on September 21.
- Final round: The fourth round of talks is expected to continue for five days, with both sides seeking “substantial progress” before the year-end deadline.