Goyal's Canada visit may accelerate Cepa negotiations, deepen energy ties

Piyush Goyal's Canada visit is set to push CEPA talks forward, with energy security, clean energy and trade diversification in focus

As Commerce and Industry Minister Piyush Goyal begins his three-day visit to Canada on Sunday to expedite negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), energy security and clean energy transition are expected to figure prominently in the talks, given the strong complementarities between Canada’s vast natural resource base and India’s growing energy needs. Civil nuclear cooperation is also likely to remain a key pillar of the bilateral energy partnership. 

A free-trade agreement with Canada could help India diversify import sources for strategic products such as energy products ($341.36 million) and fertilisers ($263.17 million), whose supplies are currently under disruption amid the West Asia conflict.

 

India’s top imports from Canada in FY26 were yellow peas ($311.24 million) and lentils ($306.56 million). 

On the other hand, Indian industries anticipate export opportunities in sectors such as pharmaceutical products ($548.27 million), gem & jewellery ($380.46 million), iron and steel items ($292.47 million), organic chemicals ($234.41 million) and electrical equipment ($226.01 million). 

India and Canada have, so far, held two rounds of negotiations and aim to conclude the free-trade agreement by December. The third round is scheduled for July in Ottawa. 

India, which had a merchandise trade surplus of $1.39 billion with Canada in FY26, is also likely to gain market access in services such as telecommunications, computer, and information services, and other business services. 

The two nations, which had a bilateral trade of $7.96 billion in FY26, aim to raise it to $50 billion by 2030.