Full Breakdown
Canada-India Trade Mission Accelerates CEPA Talks Toward 2026 Conclusion
By Drooid · · How we work
Core Event: Trade Mission and CEPA Progress
Canada’s Minister of International Trade, Maninder Sidhu, led a 300-member delegation to Bengaluru and Mumbai in mid-October 2026, the largest Canadian trade mission to India in three decades. The visit produced more than 30 commercial agreements worth nearly C$300 million and highlighted the Fairfax Financial acquisition of a majority stake in IDBI Bank for close to C$8 billion. Sidhu said negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA) are “gaining momentum” and are slated to conclude by the end of 2026, with the next round scheduled for the week of November 9 in India.
Background & Context: Prior Relations and Negotiation History
India and Canada began formal CEPA talks after Prime Minister Mark Carney’s visit to India in early 2026. Five rounds have been completed; the fifth round took place in Ottawa from October 5-9, covering market access, investment rules, rules of origin, IP rights and trade remedies. Diplomatic tension—most notably the 2023-24 fallout over the killing of Hardeep Singh Nijjar—has eased through recent high-level engagements, including a bilateral security dialogue.
Timeline
- October 5-9, 2026 – Fifth CEPA round in Ottawa.
- Mid-October 2026 – Trade mission to Bengaluru and Mumbai; 300 delegates, 150 organisations.
- Week of November 9, 2026 – Next CEPA round in India.
- End of 2026 – Target date for CEPA conclusion.
Data & Statistics
- Current bilateral trade: ? C$30 billion (government) versus ? US$7.96 billion (FY 2026).
- CEPA target: C$70 billion by 2030.
- Canadian investors have deployed about C$107 billion in Indian infrastructure, healthcare, technology, clean-tech and energy.
- Sidhu cited Canadian fertilizer exports to India up 85 % and aerospace exports up 300 % last year.
- Fairfax-IDBI deal valued at C$8 billion (? INR52,878 crore).
Official Statements & Responses
Sidhu described diversification away from the United States as “Plan A” for Canadian exporters and noted India will need about 70 % more energy by 2035, positioning Canada as a top-five LNG exporter. Union Commerce Minister Piyush Goyal echoed the momentum, stressing trust and complementary strengths.
Verbatim Quotes
- “Canada and India are renowned for their creative flair. So what better place for all of us to gather than here in India's Innovation Hub?” — Maninder Sidhu
- “We've completed five rounds. We're going to be doing another round on the week of November 9 back here in India,” — Maninder Sidhu
- “Canada and India are moving fast because the situation demands it. The rules that govern global trade for generations are being rewritten. Supply chains built over decades are being rewired overnight,” — Maninder Sidhu
Conflicting Reports & Gaps
Sources differ on the baseline level of bilateral trade: the Business Line reports C$30 billion, while the Times of India cites US$7.96 billion for FY 2026. No source provides a definitive breakdown of sector-specific tariff reductions expected under CEPA, leaving the precise economic impact unquantified.
What's Next
The next CEPA negotiation round is set for the week of November 9 in India. Both governments expect a final agreement before the end of 2026, after which implementation mechanisms and sector-specific work programmes will be developed.