Ottawa: India and Canada have concluded the third round of negotiations for a proposed Comprehensive Economic Partnership Agreement (CEPA), with both sides reaffirming their commitment to conclude the trade pact in 2026 as they seek to deepen economic ties.
The five-day negotiations, held in Ottawa this month, covered a wide range of issues including trade in goods and services, intellectual property, rules of origin, sanitary and phytosanitary measures, and technical trade barriers.
"India and Canada concluded the 3rd round of negotiations for the India-Canada CEPA in Ottawa from 6-10 July 2026. The discussions witnessed positive progress across multiple negotiating tracks, reaffirming the shared commitment of both countries to conclude the negotiations in 2026, in line with the vision of the leaders," India's Department of Commerce said in a social media post.
The negotiations are part of efforts by both countries to raise bilateral trade to USD 50 billion by 2030.
Trade between the two countries, however, declined in the last financial year. Bilateral merchandise trade fell 8.2 per cent to USD 7.95 billion in 2025-26 from USD 8.66 billion a year earlier. India's exports to Canada rose to USD 4.67 billion from USD 4.22 billion, while imports dropped to USD 3.28 billion from USD 4.44 billion.
India's major exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals. Key imports from Canada comprise pulses, pearls and semi-precious stones, coal, fertilizers, paper and crude petroleum. India's services exports are led by telecommunications, computer and information services, and other business services.
