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- India And Canada Resume Free Trade Agreement Talks, Target $50 Billion Bilateral Trade By 2030
New Delhi16 hours ago
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Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney met during the G20 Summit in Johannesburg, South Africa.
India and Canada have announced to restart negotiations for a trade deal. After two years of tension, both the countries are now ready to negotiate a trade agreement.
This decision has been taken in the bilateral meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during the G20 Summit in Johannesburg.
Target of business of ₹4.45 lakh crore by 2030
After the announcement, Commerce and Industry Minister Piyush Goyal said on Monday that the target is to take the trade between the two countries to 50 billion dollars (₹ 4.45 lakh crore) by 2030.
There will be special focus on critical minerals, critical minerals processing technology and nuclear energy. Canada is already cooperating on uranium supply.
Canadian Prime Minister Carney wrote on X that we have started an agreement that can take our trade to more than 70 billion Canadian dollars.
Diplomatic relations improve after 2 years
Trade talks between the two countries started in March 2022. But relations deteriorated in 2023 when Canada accused India of involvement in the killing of a Sikh separatist, which India vehemently denied. After this the trade talks were stopped.
After this, relations started improving with Modi Carney meeting during the G7 Summit in June 2025. Now trade talks have been formally resumed in the G20 meeting.
Canada wants to increase trade outside US
Carney has announced that he wants to double Canada’s non-US exports over the next decade. India is the fifth largest economy in the world and Canada sees it as a big opportunity.
Canada India trade to reach 31 billion Canadian dollars in 2024, although this is still considered small compared to the size of India.
