India records $1.4 billion trade surplus with Canada fiscal 2026
India just flipped the script with Canada, scoring a $1.4 billion goods trade surplus in fiscal 2026 after two years of deficits.
This happened because exports rose 10.6% to $4.7 billion, while imports from Canada dropped sharply to $3.3 billion.
India exports led by pharmaceuticals
Pharmaceuticals led India's exports, making up 11% (a solid rise since fiscal 2022), with auto parts, diamonds, and crustaceans also playing big roles.
On the flip side, pulses and other dried leguminous vegetables became India's biggest listed import category, accounting for 19% of imports from Canada in FY2026.
Even though overall trade slipped to $8 billion in FY2026, both countries are still talking about a big future: they are negotiating a deal (CEPA) that aims to push trade up to $50 billion by 2030.