Canada and India are targeting an increase in bilateral trade from around $30 billion to $70 billion over the next five years, Canadian International Trade Minister Maninder Sidhu said at the 2026 G20 Trade Ministers’ Meeting in Milwaukee. The target comes as both countries accelerate negotiations for a Comprehensive Economic Partnership Agreement (CEPA).
The fifth round of CEPA negotiations is scheduled to begin in Ottawa on October 5 and run through October 9. The two sides have committed to working towards concluding the trade agreement by the end of 2026. Commerce Minister Piyush Goyal and Sidhu have also agreed to fast-track the negotiations following their latest discussions.
Sidhu said the partnership could expand across trade, investment, research and collaboration. Energy, critical minerals and aerospace have been identified as areas with significant potential. Canada is also seeking a larger role in supporting India’s supply-chain diversification, particularly for critical minerals needed by the electric vehicle and battery industries.
Canada says it has more than $100 billion invested in India through Canadian companies and institutional investors. The two countries are also looking to strengthen investment flows in sectors including energy, mining and infrastructure.
The latest push follows the revival of India-Canada trade engagement. Bilateral goods trade stood at around $8 billion in FY2025-26, with India exporting $4.67 billion and importing $3.28 billion, according to Commerce Ministry data. The broader $70 billion target reflects the two governments’ plans to significantly expand commercial ties by 2030.
