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Mark Carney said negotiations for a free trade agreement with India are moving quickly and described the proposed deal as a “game changer” for Canadian businesses and workers.
Canadian Prime Minister Mark Carney with Union Minister Piyush Goyal (Photo: X/@MarkJCarney)
Canadian Prime Minister Mark Carney on Tuesday said Canada is moving quickly on negotiations for a free trade agreement with India, describing the proposed pact as a “game changer” for workers and businesses in both countries.
His remarks came in a post on X amid renewed diplomatic and economic engagement between New Delhi and Ottawa.
“We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market,” Carney posted on X.
He added, “We’re working fast — I met Minister Piyush Goyal to review our progress so far and explore the opportunities ahead for both our countries in energy, agri-food, tech, and education.”
We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market.We’re working fast — I met Minister @PiyushGoyal to review our progress so far and explore the opportunities ahead for both our… pic.twitter.com/LmiuwQzDmE
— Mark Carney (@MarkJCarney) May 26, 2026
Union Commerce and Industry Minister Piyush Goyal later reposted Carney’s message on X and said he had called on the Canadian Prime Minister during his Ottawa visit.
“Called on the Prime Minister of Canada, Mr. @MarkJCarney, and conveyed warm greetings from Prime Minister @NarendraModi ji,” Goyal said.
He added that he “fondly recalled his recent visit to India, which has imparted fresh momentum and renewed confidence to the India-Canada partnership.”
Goyal further said the two leaders held “forward-looking discussions on further deepening bilateral cooperation” and expressed optimism over the “early conclusion of the India-Canada Comprehensive Economic Partnership Agreement (CEPA), which would unlock new avenues of growth and prosperity for both nations.”
The remarks came as Goyal began a three-day visit to Canada from May 25 to 27, accompanied by what Indian officials described as the largest-ever Indian business delegation to the country.
The delegation includes representatives from sectors such as mining, energy, aerospace, telecom, pharmaceuticals, agriculture, tourism, textiles, automotive and capital goods.
INDIA, CANADA PUSH TO RESET TIES
According to an AP report, Goyal said Carney’s recent India visit had helped pave the way for a broader reset in bilateral relations after years of strain.
“This is a partnership that is being reset very, very rapidly,” Goyal said during his Canada visit.
He further said Carney’s February visit to India, the first by a Canadian prime minister in eight years, “completely changed the way Canada and India looked at each other.”
According to Goyal, “It has set in motion the pathway to a complete overhaul of this relationship, setting new agendas, new goals.”
India and Canada had witnessed diplomatic tensions after the 2023 killing of Sikh activist Hardeep Singh Nijjar near Vancouver.
Canadian authorities had alleged Indian involvement in the killing, charges New Delhi strongly denied.
India, in turn, accused the then government led by former Canadian Prime Minister Justin Trudeau of harbouring Khalistan extremists.
CEPA TALKS GAIN MOMENTUM
India and Canada have been negotiating a Comprehensive Economic Partnership Agreement (CEPA) since 2010.
Talks were halted in 2023 amid the diplomatic row but have now regained momentum following renewed high-level engagement between the two countries.
News agency ANI reported that both sides are aggressively pushing ahead with CEPA negotiations, which are now being viewed as central to rebuilding economic relations.
A Canadian delegation visited New Delhi earlier this month for another round of discussions held between May 4 and 7, while Indian officials are expected to continue negotiations during Goyal’s ongoing visit.
Speaking alongside Canada’s International Trade Minister Maninder Sidhu, Goyal said both governments are aiming to conclude the trade agreement by the end of this year.
“Our PMs (Indian PM Narendra Modi and Canadian PM Mark Carney) have tasked us with not only completing the free trade agreement with a comprehensive outlook before the end of this year or earlier but tripling our trade from a current USD 17 million to USD 50 million by 2030,” Goyal said.
He also highlighted the scale of India’s business participation in the visit.
“I’ve come with the largest ever business delegation that stepped out of India ever in our history. 112 Indian businesses have taken off from India. This clearly demonstrates that there’s a huge interest in this partnership,” he said.
ENERGY, NUCLEAR, TECH COOPERATION IN FOCUS
The ongoing talks are expected to focus heavily on energy cooperation, civil nuclear engagement and technology partnerships. Officials cited by ANI said India’s growing energy demand and Canada’s natural resource base make the two countries natural partners across both traditional and clean energy sectors.
During Carney’s India visit earlier this year, both countries signed several agreements, including a deal worth 2.6 billion Canadian dollars for the supply of about 22 million pounds of uranium to India for nuclear energy generation, according to AP.
The two sides are also exploring deeper cooperation in artificial intelligence, innovation ecosystems and technology standardisation.
TRADE TARGET OF USD 50 BILLION
Officials from both countries have set an ambitious goal of tripling bilateral trade to USD 50 billion by 2030. ANI reported that bilateral trade between India and Canada stood at nearly USD 8 billion in FY2025-26, with Indian exports accounting for USD 4.67 billion and imports from Canada at USD 3.28 billion.
Experts also see the renewed partnership as part of broader global economic diversification efforts. Vina Nadjibulla of the Asia Pacific Foundation of Canada told AP that both India and Canada are looking to reduce dependence on the United States and diversify trade relationships. “India is now pivoting to Europe as well as to other Western economies like Australia and Canada to be able to meet its needs for capital, technology and innovation,” she said.
The relationship is further strengthened by Canada’s large Indian-origin population, including nearly 1.8 million Indo-Canadians and around one million NRIs and students, according to ANI.
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