Canada and India are working toward finalizing a new Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, as the two countries seek to deepen economic ties following a broader diplomatic reset.
Prime Minister Mark Carney and Indian Prime Minister Narendra Modi confirmed the ambitious timeline during Carney’s visit to New Delhi, where the two governments finalized the terms of reference for the trade negotiations. The proposed agreement is expected to expand market access and strengthen cooperation across several key sectors. Canada has said the partnership could help more than double two-way trade to $70 billion by 2030.
The renewed trade push marks a significant turnaround in Canada-India relations following years of diplomatic tensions that had previously stalled trade negotiations. Both governments are now looking to expand cooperation in areas including energy, critical minerals, agriculture and nuclear power while diversifying their international trading relationships.
The New Delhi meetings also produced several major commercial and strategic agreements. Among them was a C$2.6-billion uranium supply agreement involving Canadian uranium producer Cameco, alongside plans for greater cooperation on small modular and advanced nuclear reactors.
The CEPA negotiations are now formally underway, with both governments targeting an agreement before the end of the year. If completed, the pact would represent one of the most significant economic developments in Canada-India relations in years and could open new opportunities for businesses and investors in both countries.
