India, Canada finish 3rd round of talks for trade deal
What's the story
India and Canada have successfully concluded the third round of negotiations for their proposed Comprehensive Economic Partnership Agreement (CEPA). The talks were held in Ottawa from July 6-10, 2026. The discussions covered a wide range of issues including trade in goods and services, intellectual property rights, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.
Negotiation update
Positive progress made across multiple negotiating tracks
The Department of Commerce announced the conclusion of the third round of CEPA talks on social media. The post highlighted that the discussions made "positive progress across multiple negotiating tracks." It emphasized both countries' shared commitment to conclude these negotiations in 2026.
Trade targets
Two-way trade fell by 8.22% in FY 2025-26
The CEPA negotiations are crucial as India and Canada aim to ramp up their bilateral trade to $50 billion by 2030. However, the two-way trade fell by 8.22% in the fiscal year 2025-26, standing at $7.95 billion ($4.67 billion exports and $3.28 billion imports). This is a decrease from the previous year's figures of $8.66 billion ($4.22 billion exports and $4.44 billion imports).
Market potential
India's trade with Canada
Canada, with a population of 41.65 million (2025) and a GDP of $2.34 trillion at purchasing power parity, is a major market for India. Major Indian exports to Canada include pharmaceuticals, iron and steel products, seafood, cotton garments, electronic goods, and chemicals, among others. On the other hand, India's main imports from Canada include pulses as well as pearls/semi-precious stones among other things.
Services trade
Services sector also a crucial part of trade relations
The trade relations between India and Canada also extend to the services sector. India's major service exports include telecommunications, computer/information services, and other business services. This further strengthens the economic ties between the two nations. The Indian delegation was led by Brij Mohan Mishra, Joint Secretary in the Department of Commerce, while Bruce Christie represented Canada in these negotiations.