New Delhi (Gurpreet Singh): India and Canada are set to reconvene their Joint Commission on Trade in late May or early June, marking a significant step toward finalizing a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2024. Union Commerce and Industry Minister Piyush Goyal announced on Thursday that India will send its “largest-ever business delegation” to Canada to accompany the commission. This strategic move follows a successful meeting between Goyal and his Canadian counterpart, Maninder Sidhu, on the sidelines of the WTO Ministerial Meeting in Yaounde, Cameroon, where both nations agreed to fast-track trade negotiations.
The upcoming summit signals a major diplomatic recovery after bilateral ties reached a historic low in September 2023. Relations originally cratered following allegations made by former Prime Minister Justin Trudeau regarding the killing of Hardeep Singh Nijjar, leading to the mutual expulsion of diplomats in late 2024. However, the appointment of Prime Minister Mark Carney has ushered in a rapid “thaw,” underscored by Carney’s official visit to New Delhi on March 2, 2026. Security cooperation has also stabilized, with the Royal Canadian Mounted Police (RCMP) recently stating that India is no longer involved in foreign interference, leading to the establishment of a formal security liaison office between the two capitals.
Economically, the two nations are focusing on “complementary” sectors where they do not directly compete, specifically targeting a bilateral trade goal of CAD 50 billion by 2030. Canada is positioned to become a critical supplier of crude oil and natural gas to India as it expands its production capacities, while India seeks to draw greater Canadian capital into its infrastructure and technology sectors. Minister Goyal emphasized that the negotiations are currently prioritizing “low-hanging fruit”—non-sensitive issues that offer a win-win scenario for both economies.
The inclusion of investment sector leaders in the upcoming delegation highlights New Delhi’s intent to expand its investment partnership beyond simple commodity trade. As the Joint Commission prepares to meet in Canada, both governments are working with industry interest groups to ensure the CEPA remains on track for a year-end conclusion. This renewed economic engagement suggests that both nations are eager to move past recent geopolitical friction in favor of long-term energy security and market expansion.
