Sixth round of negotiations underway as both countries seek to expand cooperation in energy, critical minerals, nuclear power and investment
India and Canada are working towards concluding negotiations on a proposed trade agreement by December, with Canadian International Trade Minister Maninder Sidhu expressing hope that the deal will be finalised ahead of Prime Minister Narendra Modi’s proposed visit to Canada next month.
The two countries are currently holding the sixth round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA). Speaking at the CII Partnership Summit in Visakhapatnam on November 12, Sidhu said discussions between the chief negotiators were progressing and both sides were keen to reach an agreement before Modi’s visit.
Sidhu also held discussions with Union Commerce and Industry Minister Piyush Goyal on advancing the negotiations.
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The proposed agreement is expected to strengthen trade and investment ties by improving market access and expanding cooperation across several sectors
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Both countries are seeking to increase bilateral trade and create fresh opportunities for businesses
Energy cooperation is emerging as a major area of discussion. Sidhu said Canada could help meet India’s growing energy requirements through supplies of liquefied natural gas (LNG), uranium and other resources. He projected that Canada’s LNG export capacity would make it one of the world’s five largest suppliers within the next five years.
The two countries are also exploring cooperation in nuclear energy and critical minerals, which are important for electric vehicle manufacturing and clean-energy technologies.
Sidhu referred to a uranium supply agreement worth approximately USD 2.5 billion signed earlier this year, involving Canadian supplier Cameco, and said there was scope to expand cooperation further.
Investment is another priority. Canadian pension funds and institutional investors are interested in increasing their presence in India, particularly in infrastructure, data centres and artificial intelligence.
The negotiations have gathered pace following five rounds of discussions. The sixth round is aimed at resolving outstanding issues and advancing the agreement towards completion.
The proposed CEPA forms part of broader efforts by New Delhi and Ottawa to rebuild bilateral relations and strengthen economic engagement after years of diplomatic tensions.
Both governments are now looking to translate the renewed political engagement into a long-term economic partnership.
