India-Canada Comprehensive Economic Partnership Agreement (CEPA)
The ongoing negotiations between India and Canada aim to finalize a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, according to the Ministry of External Affairs (MEA).
Negotiation Progress
- Three rounds of negotiations have been completed, with the latest round held in Ottawa from July 6-10.
- Both nations are working steadily towards concluding the negotiation process to establish the CEPA.
Goals of the India-Canada CEPA
- To establish a free trade area by eliminating or reducing tariffs and other trade restrictions.
- To progressively liberalize trade in goods and services.
- To promote a more transparent, predictable, and facilitative trade and investment regime.
- To strengthen economic cooperation and people-to-people ties.
Economic Context
- Canada's market represents a population of 41.65 million people and a GDP of $2.34 trillion in terms of purchasing power parity as of 2025.
- The bilateral trade between India and Canada was valued at $8.66 billion in 2024-25.
- India’s exports to Canada were worth $4.22 billion, while imports from Canada stood at $4.44 billion.
Future Plans
- Prime Minister plans to visit Canada later this year to further enhance bilateral ties.
