Union Commerce Minister Piyush Goyal concluded his three-day visit to Canada on 28 May 2026, leading India’s largest-ever business delegation and focusing on accelerating Comprehensive Economic Partnership Agreement (CEPA) negotiations, with both nations committed to expanding bilateral trade from $8.5 billion to $50 billion by 2030.

His engagements spanned academia, innovation centres, government leaders, investors, and the Indo-Canadian community, reinforcing momentum in economic and strategic ties.

Piyush Goyal’s visit combined high-level diplomacy with grassroots engagement. He addressed faculty, researchers, and students at the University of Toronto’s Munk School of Global Affairs and Public Policy, outlining India’s rapid economic progress and opportunities for deeper collaboration in trade, investment, and people-to-people ties.

He emphasised India’s transformation into a global economic hub and invited Canadian academia to partner in shaping future cooperation.

At the Ontario Centre of Innovation, Goyal explored Canada’s initiatives in supporting start-ups and fostering collaboration between industry, academia, and government. He held discussions with Canada-India Tech Connect on emerging technologies such as artificial intelligence and quantum computing, highlighting opportunities in AI, cleantech, agriculture technology, and deep tech where both nations possess complementary strengths.

In a key political engagement, Goyal met Ontario Premier Doug Ford to discuss collaboration in manufacturing, technology, infrastructure, clean energy, food processing, and critical minerals. These talks underscored the potential for India–Ontario cooperation in sectors vital to both economies.

He also interacted with regional chambers and business leaders operating in the India-Canada corridor, receiving feedback on strengthening commercial engagement and boosting investment flows amid CEPA negotiations.

Meetings with institutional investors, including Ontario Teachers’ Pension Plan and CPP Investments, focused on opportunities in infrastructure, renewables, logistics, financial services, and the digital economy in India.

Minister Goyal encouraged Canadian pension funds and institutional investors to expand their footprint in India’s growth sectors, stressing India’s rising global economic stature and the new avenues it opens for international partnerships.

The minister also engaged with the Canada-India Foundation and members of the Indo-Canadian community, praising their role in bridging the two nations through stronger business engagement and cultural ties. He highlighted the invaluable contribution of the diaspora in reinforcing bilateral relations.

Goyal’s delegation comprised representatives from more than 100 Indian companies, making it the largest-ever Indian business mission to Canada. The visit aimed to accelerate CEPA negotiations, which both sides have resolved to conclude by the end of 2026.

Canadian Prime Minister Mark Carney described the CEPA as a potential “game changer” that could unlock significant market opportunities in energy, agri-food, technology, and education. Goyal’s meetings with Carney, International Trade Minister Maninder Sidhu, Foreign Minister Anita Anand, and Agriculture Minister Heath MacDonald reaffirmed shared priorities in clean energy, food processing, infrastructure, logistics, and digital transformation.

The visit marked a thaw in India-Canada relations after years of political gridlock, with both nations recognising the strategic importance of economic cooperation. The ambitious target of USD 50 billion in bilateral trade by 2030 reflects a renewed commitment to building resilient supply chains, fostering innovation, and strengthening democratic partnerships.

ANI