FTA Talks With India Going Well, Could Conclude In Coming Months: Canada Trade Minister

Canada’s Trade Minister Maninder Sidhu said negotiations with India on a proposed trade agreement are progressing positively and could reach completion in the coming months.

His comments came as Ottawa looks to broaden its export markets amid rising trade uncertainties with the United States.

“I just came from India. We are making great headway,” Sidhu told Bloomberg TV’s Paul Allen.

India-Canada FTA talks enter crucial phase

The statement follows the conclusion of the fourth round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the two countries. The next round of discussions is scheduled to begin on October 5 and will continue for five days.

Commerce and Industry Minister Piyush Goyal said the next 90 days would be significant for bilateral economic ties, with both sides working towards concluding the agreement by the end of the year.

The talks have gained importance as Canada seeks to diversify its trade relationships beyond the US, its largest trading partner. Canadian Prime Minister Mark Carney has been focusing on strengthening economic links with India and the European Union.

Sidhu said Canada’s strategy of expanding trade partnerships has already delivered results, with exports to markets outside the US rising 17% last year.

Energy, fertilisers key areas in trade discussions

India and Canada are exploring opportunities in sectors including energy, fertilisers and supply chains. Sidhu said India’s growing energy demand creates scope for greater cooperation in areas such as liquefied natural gas and nuclear power.

“They do need more energy. They are growing at an exponential rate,” Sidhu said, adding that nuclear capacity and LNG were important parts of discussions. “That is a big part of the conversation. Fertilizer is also part of that conversation.”

Canada, a major supplier of potash, is also seeking improved market access for fertiliser exports to India.

The trade discussions are taking place amid renewed US tariff concerns over India’s purchase of Russian crude oil, prompting Indian refiners to review supply options.