Prime Minister Narendra Modi on Tuesday said he had a "warm and productive" conversation with Canadian Prime Minister Mark Carney, with both leaders agreeing to build on the positive momentum in bilateral ties and strengthen cooperation across key areas of their strategic partnership.
In a post on X, PM Modi said the two leaders discussed delivering concrete outcomes in areas including trade, energy, technology, security and people-to-people ties. He said both countries were committed to building on the progress made in their relationship.
"Together, India and Canada are contributing towards a more stable and prosperous world," he said, highlighting the broader importance of cooperation between the two countries.
The talks come amid renewed efforts by New Delhi and Ottawa to expand economic cooperation, with negotiations for a Comprehensive Economic Partnership Agreement (CEPA) underway. Both sides are aiming to conclude the proposed deal by December and have set a target of increasing bilateral trade to 70 billion Canadian dollars (around USD 49 billion) by 2030.
INDIA-CANADA TRADE TALKS GAIN MOMENTUM
India and Canada are currently in the fifth round of negotiations for the proposed CEPA, which was held in Ottawa from October 5 to 9. The agreement is expected to provide a framework for expanding trade and investment between the two countries.
Carney had said last month that negotiations were making good progress and expressed his willingness to host PM Modi in Canada in December. The proposed visit could provide an opportunity for both leaders to review progress on the trade agreement and broader bilateral cooperation.
The two countries renewed their push for a comprehensive trade pact during Carney's visit to India in March, when they set the target of raising two-way trade to CAD 70 billion by 2030.
The latest diplomatic engagement also coincides with Canada's efforts to diversify its exports beyond the United States, with India emerging as an important market for Canadian businesses.
CANADA TO SEND NEARLY 300 BUSINESS DELEGATES TO INDIA
As part of that effort, Canada will send nearly 300 business delegates to India next week in its largest trade mission to the country in more than 30 years. The delegation, led by Canadian Minister of International Trade Maninder Sidhu, is scheduled to visit Mumbai and Bengaluru from October 12 to 17.
According to an official statement issued by the Canadian government, the mission aims to connect Canadian companies with Indian decision-makers, industry leaders and potential customers, while opening avenues for investment and commercial partnerships.
Sidhu said the visit would help bring together Canadian expertise and India's growing market demand.
"By matching Canadian expertise in sectors like aerospace, agri-food and clean technology with India's growing demand, we will diversify our trade and attract new investment," he said.
The mission is expected to focus on opportunities across industries where Canadian companies can expand their presence in India. Ottawa also sees stronger commercial partnerships as a way to support employment and create new opportunities for Canadian businesses.
TRADE TARGET SET AT CAD 70 BILLION BY 2030
The scale of the proposed expansion is reflected in existing trade figures. Canadian government data show that bilateral trade in goods and services totalled CAD 30.4 billion in 2025, less than half the target set for 2030.
Canada's merchandise exports to India stood at CAD 3.9 billion, led by vegetables, mineral fuels and oils, and wood pulp. Its merchandise imports from India reached CAD 9.7 billion, with precious stones and metals, machinery and pharmaceutical products among the major categories.
The proposed CEPA is intended to help both countries expand these flows by improving market access and creating more opportunities for businesses to trade and invest.
The latest round of negotiations followed a meeting between Sidhu and India's Commerce and Industry Minister Piyush Goyal on the sidelines of the G20 Trade Ministers' Meeting in Milwaukee, United States, on October 1. The two ministers discussed the progress of the negotiations and ways to deepen trade and investment ties.
Canada's Indo-Pacific Strategy, launched in 2022, identifies trade, security, sustainability, people-to-people ties and regional engagement as key priorities. Strengthening relations with India fits into Ottawa's wider effort to expand its economic and strategic engagement across the region.
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