New Delhi: Commerce and Industry Ministry Piyush Goyal is set to travel to Canada Saturday night with the largest business delegation ever—150—for a four-day visit focusing on trade and energy.
“India and Canada are working together for a good trade deal…They are the second largest producer of uranium. You know there is a deal…India and Canada are complimentary economies,” Goyal said at a media briefing Saturday.
The minister highlighted that Canadian Prime Minister Mark Carney welcomes a trade agreement with India. Goyal will be holding bilateral meetings with his counterpart Maninder Sidhu, as well as, attending a number of business-related events.
Round tables in Toronto are expected, as India and Canada focus on deepening economic ties. The two countries have moved quickly to reset ties after an almost two-year diplomatic chill.
Goyal highlighted that the two countries have set the goal of doubling trade to $50 billion in the next five years following Carney’s visit to New Delhi in March.
As a part of this effort, the two countries have opened negotiations for a comprehensive economic partnership agreement (CEPA) with technical talks being held last month.
Goyal is expected to take forward the negotiations along with his counterpart Sidhu. Canada is keen to expand its energy exports to India, while Canadian pension funds have invested almost $100 billion in the Indian market.
For Ottawa, New Delhi is a key part of its strategy to diversify its exports. Canada relies heavily on the US for almost two-thirds of its exports. Ties between Ottawa and Washington have been tense since the return of Donald Trump to the White House in January 2025.
Carney has been able to stitch up a majority government ever since winning the most seats during the snap general election held in April 2025. The Canadian Prime Minister has moved to normalise and stabilise ties with India, after a rough few years.
Ties cratered following allegations raised by then Prime Minister Justin Trudeau of links between Indian officials and the killing of the Sikh separatist Hardeep Singh Nijjar in 2023. Trudeau made the allegations on the floor of the House of Commons in September 2023. A year later in October 2024, India expelled six Canadian diplomats and withdrew six of its own, as ties were in a free fall.
One of the first confidence building measures both sides took since Carney came to office last year was the simultaneous appointment of new High Commissioners.
Goyal’s visit with the large business delegation, underlines New Delhi’s interests to expand commerce and trade ties with Ottawa. India has had its own challenges navigating the evolving global trade architecture following Trump’s imposition of global tariffs last year.
(Edited by Tony Rai)