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

Canada remains hopeful of wrapping up comprehensive economic partnership agreement (CEPA) negotiations with India by the end of the year, according to the country's minister for international trade. Canadian Prime Minister Mark Carney had previously expressed optimism during a visit to New Delhi in March that the two nations would finalize a free trade pact by year's end. Canadian Trade Minister Maninder Sidhu conveyed a strong sense of optimism during a recent visit to Mumbai, India.

Indian trade negotiators are scheduled to arrive in Canada next month, and leaders from both nations are anticipated to meet on the sidelines of the G-20 gathering in December. Energy sector cooperation is a key area of discussion, with Canada's liquefied natural gas (LNG) export facility launched last year and five more projects currently in development serving as potential focal points.

Sidhu explained that Canadian firms are engaging with Indian counterparts to explore investment opportunities and secure supply within these projects.

Beyond LNG, both countries are eager to enhance their nuclear energy cooperation, with India aiming to significantly expand its capacity in this field. Canada boasts a rich history in the nuclear industry, and Sidhu sees substantial benefits for Canadian companies in helping build up supply chains in India. Numerous large Indian business houses, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are reportedly exploring investments in critical mineral projects in Canada, seeking to secure vital supply chains as global supply chains become increasingly politicized.