India-Canada reaffirm shared objective of expanding bilateral trade to 50 billion US Dollar by 2030

Commerce and Industry Minister Piyush Goyal held a series of high-level meetings with senior Canadian business leaders and institutional investors in Toronto, during 2nd day of his visit to Canada. The Commerce and Industry Ministry said that the meeting was aimed at deepening bilateral cooperation and promoting investments and technology partnerships across strategic sectors.

During the visit, Mr Goyal met Canada’s International Trade Minister,  Maninder Sidhu and discussed growing complementarities between India and Canada and underscored the need for a more robust and predictable business ecosystem driven by stronger government-industry collaboration. The Ministry said that both sides also reaffirmed their shared objective of expanding bilateral trade to 50 billion US Dollar by 2030 and concluding the CEPA negotiations by the end of the year.

This was followed by the Canada-India Investment Roundtable, co-chaired by both Ministers. The roundtable was attended by leading Canadian financial investors, including pension funds and banks, along with senior government representatives from both countries. Discussions focused on Indian Government’s continued emphasis on infrastructure development, financial sector reforms, ease of doing business and creating significant opportunities for global investors. Mr Goyal also invited stakeholders to partner with India in various sectors and explored avenues to deepen cooperation in financial markets to support sustainable growth and shared prosperity for both countries.

Following the roundtable, the Minster also held one-on-one meetings with leading Canadian companies across sectors, including insurance, food processing and others. The Ministry said that the discussions focused on their expanding interests in India, coverings subjects including India’s macroeconomic outlook, the availability of STEM talent and the consequent rise of Global Capability Centres (GCCs), Production Linked Incentive (PLI) schemes to encourage strategic investments, and improving India’s regulatory environment.

Further addressing members of the Indian diaspora, Mr Goyal underlined the strength of the Indian community in Canada and its important role in deepening the India-Canada business corridor. He also emphasised that the Indian diaspora has a vital role to play not only in expanding business and investment linkages with India but also in promoting stronger cultural exchanges, community engagement, and the growth of Indian businesses across Canada.