India and Canada start 4th round of trade pact talks
What's the story
India and Canada have entered the fourth round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA). The talks began today and will continue for five days, focusing on various issues such as goods and services trade, rules of origin, and technical trade barriers. The aim is to conclude these discussions by the end of this year.
Negotiation
Two-way trade between India and Canada
The third round of CEPA negotiations was held in July in Ottawa. These talks are crucial as India and Canada aim to boost their bilateral trade to $50 billion by 2030.
However, the two-way trade saw an 8.22% decline in FY 2025-26, amounting to $7.95 billion (with exports at $4.67 billion and imports at $3.28 billion).
This is a drop from the previous fiscal's figures of $8.66 billion ($4.22 billion exports and $4.44 billion imports).
Trade details
India's major exports to Canada
India's major exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods, and chemicals.
The main imports are pulses, pearls and semi-precious stones, coal, fertilizer, paper, and petroleum crude.
India's key services sector exports include telecommunications as well as computer and information services, among other business services.