India and Canada Reaffirm Commitment To USD 50 Billion Bilateral Trade Target

Union Minister of Commerce and Industry Piyush Goyal held a series of high-level meetings with senior Canadian business leaders and institutional investors in Toronto, Canada on Day 2 of his visit, aimed at deepening bilateral cooperation and promoting investments and technology partnerships across strategic sectors.

The day began with Shri Piyush Goyal delivering the keynote address at the Canada–India Building Bridges event hosted by Global Affairs Canada, CII, and ASSOCHAM at the World Trade Centre Toronto. The event witnessed participation from more than 150 representatives from businesses, investor groups, and industry associations across sectors including advanced manufacturing, pharmaceuticals and biotechnology, clean technology, energy, and oil and gas.

This was followed by a fireside chat between Piyush Goyal and Canada’s Minister of International Trade Maninder Sidhu, during which Shri Goyal highlighted the growing complementarities between India and Canada and underscored the need for a more robust and predictable business ecosystem driven by stronger government-industry collaboration. Minister Sidhu expressed his commitment to building closer bilateral ties, appreciated the presence of the largest-ever Indian business delegation to Canada, and announced a Team Canada Trade Mission to India later this year in November. The proposed mission aims to bring Canadian companies to India to explore opportunities for collaboration across sectors such as artificial intelligence, critical minerals, nuclear energy, renewable energy, semiconductors, clean technology, digital infrastructure, and advanced manufacturing. Both sides reaffirmed their shared objective of expanding bilateral trade to USD 50 billion 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 India and Canada. Discussions focused on the Government of India’s continued emphasis on infrastructure development, financial sector reforms, and ease of doing business, which are creating significant opportunities for global investors.(UPDATED ON 27TH MAY 2026)