India and Canada successfully wrapped up the third round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in Ottawa from July 6‑10, 2026. The five‑day dialogue focused on trade in goods and services, intellectual property rights, rules of origin, sanitary and phytosanitary standards, and technical trade barriers.

Strategic Timing and Commitment

According to a statement from India’s Department of Commerce, both governments reaffirmed their commitment to complete the CEPA negotiations within 2026. The accelerated timeline underscores the strategic importance each side places on deepening economic ties amid shifting global supply‑chain dynamics.

Current Trade Landscape and Ambitious Goal

In the 2025‑26 fiscal year, bilateral trade fell 8.22% to $7.95 billion (exports $4.67 billion, imports $3.28 billion). Nevertheless, both countries are targeting a $50 billion trade volume by 2030, leveraging CEPA as a catalyst. Canada, with a 2025 population of 41.65 million and a PPP‑adjusted GDP of $2.34 trillion, represents a sizable market for Indian exporters.

Key Export‑Import Commodities

India’s primary exports to Canada include pharmaceuticals, iron‑steel, seafood, cotton garments, electronic equipment and chemicals. Conversely, Canada supplies India with pulses, pearls and semi‑precious stones, coal, fertilizers, paper and crude oil. In services, India’s exports are dominated by telecommunications, IT and business services.

Future Outlook and Negotiation Leaders

With over 425,000 Indian students and a vibrant diaspora in Canada, people‑to‑people links reinforce the economic agenda. The chief negotiators—Joint Secretary Brij Mohan Mishra for India and Bruce Christie for Canada—have signaled that upcoming rounds will focus on investment, innovation and sustainable development.

If CEPA is ratified, it will not only expand trade volumes but also open new avenues for technology cooperation, potentially redefining Indo‑Canadian economic relations in the coming decade.