Union Commerce and Industry Minister Piyush Goyal announced that India and Canada are aiming to triple bilateral trade to USD 50 billion by 2030 as both countries push to revive economic ties and fast-track the proposed Comprehensive Economic Partnership Agreement (CEPA). Speaking during his Canada visit alongside International Trade Minister Maninder Sidhu, Goyal said both nations are working to conclude the trade pact by the end of 2026. Discussions focused on critical minerals, energy security, resilient supply chains, infrastructure investments, technology cooperation, and stronger business partnerships. India is also exploring opportunities for importing gas, fuel, and critical minerals from Canada, while seeking long-term investments from major Canadian pension funds and businesses. The visit marks a major step in resetting India-Canada relations after recent diplomatic tensions and signals a renewed focus on trade, investment, and strategic cooperation.
India-Canada FTA: Joint Secretary in the Department of Commerce Brij Mohan Mishra is the chief negotiator for India, while Bruce Christie is Canada's chief negotiator.
Highlighting Canada’s $100 billion investment in India and the presence of 600 Canadian companies in the country, Goyal said there is considerable interest and enthusiasm in Canada for a free trade agreement with India.
On the recent depreciation in the Indian rupee against the US dollar, Goyal said the government does not interfere in the exchange rate and noted that it is a matter of market forces and due to global factors.
Earlier this year, India and Canada revived discussions on a free trade agreement and, in March, signed the Terms of Reference (ToR) for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
A major political controversy has erupted after Rahul Gandhi referred to Prime Minister Narendra Modi as “gaddar,” triggering sharp reactions from the BJP. Yogi Adityanath demanded an apology, accusing Rahul Gandhi of insulting the nation and disrespecting the tricolour. Union Minister Piyush Goyal also launched a strong counterattack, while BJP Yuva Morcha leaders filed a formal complaint in Delhi seeking an FIR over the remark. The controversy comes amid intense political sparring over PM Modi’s Italy visit and the viral “Melody diplomacy” moment with Giorgia Meloni. As both BJP and Congress sharpen their attacks, the political showdown continues to escalate.
Commerce Minister Piyush Goyal announced a monumental economic leap, revealing that mega US tech and infrastructure commitments have hit a massive ₹6 lakh crore ($60 Billion). Grounding this surge, Goyal confirmed that India and the US have finalized a critical Interim Phase 1 Bilateral Trade Agreement, guaranteeing India preferential market access over its global competitors. Ahead of US Secretary of State Marco Rubio's high-profile visit, Goyal highlighted deep strategic alignments spanning AI, Quantum Computing, and critical minerals, positioning India as the world's most trusted economic partner.
The India-US partnership is entering a crucial new phase as top-level engagements gather pace ahead of US Secretary of State Marco Rubio’s India visit on May 23. US Ambassador Sergio Gaud has already met Finance Minister Nirmala Sitharaman, signalling the restart of the high-stakes India-US Economic and Financial Partnership dialogue. From trade and investments to defence, energy security and technology cooperation - both nations are looking to deepen strategic ties amid global uncertainty. Commerce Minister Piyush Goyal says US companies have committed over $60 billion in investments in recent months, including major bets by Amazon and Google. With trade talks intensifying, India and the US appear ready to take their partnership to the next level.
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In a powerful address, Union Commerce and Industry Minister Piyush Goyal highlighted that US companies have generated over 10 million direct and ecosystem jobs in India. Proclaiming that India is rapidly transitioning from a basic "assembly economy" to a global IP and R&D powerhouse, Goyal revealed that high-tech innovation costing $10 billion in the US can be completed in India at a fraction of the cost. He credited Global Capability Centers (GCCs) and PM Modi's Digital India backbone for taking AI and cutting-edge tech deep into Tier-2 and Tier-3 towns.




