Canada optimistic about concluding trade talks with India by year-end, minister says

Canadian Trade Minister Maninder Sidhu expressed optimism on Saturday about concluding negotiations for a comprehensive economic partnership agreement (CEPA) with India by the end of the year. Canadian Prime Minister Mark Carney had previously stated during a March trip to New Delhi that the two nations aimed to agree on a free trade pact by year-end.

Sidhu conveyed his enthusiasm during a visit to Mumbai, India's financial hub. He anticipates Indian trade negotiators will visit Canada in the coming month, and leaders from both countries are likely to meet at the sidelines of the G-20 gathering in December.

A key focus of the talks is the energy sector, particularly Canada's liquefied natural gas (LNG) industry. Sidhu mentioned ongoing discussions with Indian firms regarding potential participation in Shell-led LNG projects and other Canadian energy initiatives. He did not disclose further details but emphasized the mutual interest in expanding cooperation in nuclear energy, where India aims to significantly increase its capacity.

Canada boasts a rich history in the nuclear industry, and Sidhu believes Canadian companies can contribute to building a robust supply chain in India. Additionally, the minister revealed that several major Indian conglomerates, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are exploring investments in critical mineral projects in Canada as a strategic move to secure supply chains amidst increasingly weaponized supply networks.