India, Canada to fast-track trade pact talks, says Goyal

India and Canada had agreed to fast-track talks on a high-ambition Comprehensive Economic Partnership Agreement (CEPA), Union Commerce and Industry Minister Piyush Goyal said on Monday, stressing that both countries saw “significant headroom” to expand trade, technology partnerships and clean-energy collaboration.

Addressing the Indo-Canadian Business Chamber here, Goyal said the meeting between PM Narendra Modi and his Canadian counterpart Mark Carney on the sidelines of the G20 Summit had injected new momentum into the relationship, with both sides committing to restart CEPA negotiations and double bilateral trade by 2030. “CEPA reflects the trust between our countries and strengthens investor confidence,” he said.

Goyal said India and Canada were “natural allies”, with complementarities in critical minerals, mineral processing technologies, nuclear energy and diversified supply chains. He underlined India’s rapid rise in emerging technologies — from AI and quantum computing to next-generation data centres — powered by the world’s largest annual pool of STEM graduates.

Highlighting India’s expanding clean-energy base, the minister said the country’s 500-GW power grid, including 250 GW of renewables, offered the resilience required for AI-driven infrastructure. India’s plan to double clean-energy capacity to 500 GW by 2030, he added, positions it as a trusted partner able to deliver round-the-clock green power at globally competitive rates.

Proposing a five-point plan to deepen ties, Goyal urged both sides to prioritise critical minerals, clean energy, aerospace, defence and manufacturing under ‘Make in India’, while inviting Canadian companies to join India’s journey toward becoming a developed nation by 2047.