New Delhi: India and Canada are assessing the scope of the proposed trade deal, factoring in the changed global situation since talks stopped in 2023, Commerce Secretary Rajesh Agrawal said this week, while stating that the government is exploring the possibility of a preferential trade agreement with Mexico to help Indian exporters avoid paying steep tariffs of up to 50 per cent.
Both sides have resumed discussions on the trade pact after a gap of two years. Ten rounds of negotiations have been held before Canada paused negotiations in 2023.
Agrawal said that the two countries have recently held technical-level trade talks. They discussed the scope of the negotiations that the two countries will have. When asked if the two nations will start talks on the proposed trade pact afresh, Agrawal said: "That decision will be taken shortly".
He added that a lot of things have changed on the global trade front since the talks were paused in 2023. "In two years, countries have moved on, the world has moved on. Lot of other challenges in trade are coming up. We need to take stock as to where we stopped...." Joint Secretary in the Department of Commerce Brij Mohan Mishra is the chief negotiator from the Indian side. Bruce Christie is Canada's chief negotiator.
They will "meet virtually to design the agenda and path forward (for the talks)," Agrawal said. He also said India is in the midst of multiple FTA negotiations, including with Canada, the US, Peru, Chile, the EU, and EAEU (Eurasian Economic Union).
Meanwhile, Commerce and Industry Minister Piyush Goyal will lead a high-level trade and investment delegation to Canada next year to further strengthen trade and commercial engagements between the two countries.
According to Goyal, the visit aims to launch negotiations on the Comprehensive Economic Partnership Agreement (CEPA) with Canada. Last month, India and Canada agreed to hold sustained ministerial engagements with the trade and investment community in both countries in early 2026.
