Economy & Markets

India and Canada have agreed to accelerate negotiations for the Comprehensive Economic Partnership Agreement (CEPA), scheduling the fifth round of talks to begin on October 5. Commerce Minister Piyush Goyal described the upcoming ninety days as a defining period for bilateral relations, with both nations targeting the conclusion of the trade pact by the end of 2026. This acceleration follows the fourth round of negotiations which concluded in New Delhi on September 18. The strategic objective is to double two-way trade from USD 30.4 billion in 2025 to USD 70 billion by 2030. India's exports to Canada are dominated by pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods, and chemicals, while services exports lead in telecommunications and computer information services. Key imports from Canada include pulses, pearls, semi-precious stones, coal, fertilizers, paper, and crude petroleum. Minister Goyal also provided updates on other major trade agreements, noting that the India-EU pact is expected to be ratified by the EU parliament within three months and come into force within six to seven months. Additionally, he highlighted progress on the India-Chile trade agreement, stating that Commerce Secretary Rajesh Agarwal recently visited Chile to review talks and expressing confidence in positive developments in the coming months