India and Canada have launched "high-ambition" Comprehensive Economic Partnership Agreement (CEPA) talks at the G20 Summit in Johannesburg, aiming to double bilateral trade to USD 50 billion by 2030.

The initiative marks a significant step in strengthening economic ties, with both countries committing to expand cooperation across defence, space, trade, technology, and energy sectors. The talks were launched in discussions between India's Prime Minister Narendra Modi and Canada's Prime Minister Mark Carney, alongside respective foreign ministers and trade officials.

Prime Minister Modi and Prime Minister Carney met on the sidelines of the summit, reaffirming their commitment to reviving bilateral ties, which have been improving since their interaction at the G7 Summit earlier in the year.

Bilateral trade had surpassed USD 30 billion in 2024, with India emerging as Canada's seventh-largest trading partner. Canada’s Foreign Minister Anita Anand highlighted the economic potential, noting a deal lifting trade beyond USD 70 billion would benefit workers and businesses in Canada.

The CEPA framework aims to provide stable trade rules while doubling trade volume, also reflecting ongoing collaboration in civil nuclear energy, including discussions on sustained uranium supply. Additionally, the Australia-Canada-India Technology and Innovation (ACITI) Partnership was announced, focusing on critical technologies, artificial intelligence, nuclear energy, and supply chain resilience.

External Affairs Minister S. Jaishankar and Canadian trade officials have been actively engaging in preparatory visits and dialogue to pave the way for expanded commercial engagement, critical minerals cooperation, and energy collaboration. Prime Minister Modi has invited Prime Minister Carney to visit India to consolidate the progress in their bilateral relationship.

This renewed trade engagement represents a thawing and strategic enhancement of Canada-India ties, with strong emphasis on economic growth, defence collaboration, and technology innovation under the ambit of CEPA and allied partnerships.​

Based On ANI Report