India-Canada CEPA Talks: What Each Side Wants as They Aim for a Deal by End-2026
India and Canada are negotiating a Comprehensive Economic Partnership Agreement (CEPA), a wide trade deal covering goods, services and investment. Both sides aim to finish it by the end of 2026.
A Team Canada trade mission of nearly 300 business representatives, led by Canada's trade minister, visited Mumbai and Bengaluru from 12 to 17 October 2026. Canada calls it its largest trade delegation to India in more than three decades.
The fifth round of CEPA talks was held in Ottawa from 5 to 9 October 2026. The talks had paused briefly before resuming.
Both countries want to raise two-way trade to about US$50 billion (about CAD 70 billion) by 2030, more than double the 2025 level of about CAD 30.4 billion.
Key areas in the talks are energy (uranium, LNG), critical minerals, and agriculture (such as pulses). Canada wants better access to India's market for its farm goods and resources. India wants easier access for its services, professionals and manufactured goods, while protecting sensitive sectors like dairy.
India-Canada Relations: History, Rupture and Reset
India and Canada are both democracies, members of the Commonwealth and the G20, and share deep people-to-people ties through one of the largest Indian diaspora communities in the world. Their relationship has seen long periods of cooperation broken by sharp downturns. The most recent downturn came in 2023, and since 2025 both sides have been repairing ties, with trade at the centre of this reset.
The large Canadian business delegation and the October round of talks show that the reset is now focused on trade. A signed CEPA by the end of 2026 would be the biggest outcome of the repaired relationship.
Free Trade Agreements: Concept and WTO Framework
A Free Trade Agreement (FTA) is a deal between two or more countries to remove or sharply cut import taxes (tariffs) on most goods they trade with each other. India uses different names for its trade deals. A CEPA (Comprehensive Economic Partnership Agreement) is a wide FTA that covers goods, services, investment and other areas. An EPTA or "early harvest" deal is a smaller first step that covers only some goods and services. World Trade Organization rules (Article XXIV of the GATT) allow FTAs only if they cover "substantially all the trade" between the partners.
India and Canada first tried an EPTA in 2022. Now they are aiming straight for a full CEPA. Market access for Canadian farm goods versus Indian services and professionals is the main give-and-take.
Critical Minerals: Meaning, India's List and Global Supply Chains
Critical minerals are minerals that a country badly needs for its economy and security, but whose supply is at risk. They are used in batteries, electric vehicles, solar panels, mobile phones and defence equipment. Examples are lithium, cobalt, nickel, graphite and rare earth elements. Supply is risky because mining and especially processing are concentrated in a few countries, mainly China.
Critical minerals and energy are among the main items Canada wants to sell and India wants to buy. Including them in the CEPA could give India a steadier supply from a partner outside China-dominated supply chains.
- Trade target: about US$50 billion (CAD 70 billion) by 2030
- Bilateral trade in 2025: about CAD 30.4 billion
- CEPA talks first launched: 2010; EPTA approach: March 2022; paused: September 2023
- Leaders agreed to restart talks: 23 November 2025, G20 Johannesburg
- Terms of Reference signed: 2 March 2026, New Delhi
- Fifth round: Ottawa, 5 to 9 October 2026
- Team Canada trade mission: nearly 300 delegates, Mumbai and Bengaluru, 12 to 17 October 2026
- Uranium deal with Cameco: about US$2.6 billion, supply 2027 to 2035
- Target to conclude CEPA: end of 2026