{
  "id": 14476539,
  "title": "Canada aims to seal India trade pact by year-end amid push to diversify ties",
  "url": "https://urgent.news/2026/10/14/canada-aims-to-seal-india-trade-pact-by-year-end-amid-push-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T15:00:50.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/foreign-trade/canada-and-india-aim-for-major-trade-pact-by-year-end-to-boost-economic-ties/articleshow/134945593.cms"
  },
  "original_language": "en",
  "account": "Canada aims to finalize a trade agreement with India by the end of this year as part of its effort to diversify economic ties, according to Foreign Minister Anita Anand. Speaking to Reuters, Anand emphasized that the proposed Comprehensive Economic Partnership Agreement (CEPA) with India is a crucial step in Ottawa's strategy to broaden its trade partnerships and double non-US trade over the next decade. This initiative aligns with Prime Minister Mark Carney's government's broader goal of strengthening economic relationships with the European Union, China, and other markets, while maintaining collaborations with the United States on trade, defence, and security matters.\n\nAnand highlighted ongoing discussions between Canada and the European Union on cooperation in critical minerals, energy, and artificial intelligence, which will build upon their existing CETA trade relationship. Furthermore, Canada has already established a free trade agreement with Indonesia and is set to finalize a deal with the Association of Southeast Asian Nations (ASEAN) in 2026. Currently, Canada has 15 trade agreements encompassing 51 countries and approximately 1.5 billion consumers, underscoring the importance of maintaining a balanced portfolio of trade relationships to ensure national resilience and sovereignty.\n\nNegotiations for the India trade pact are progressing positively, with trade negotiators from India recently visiting Canada, and Canadian Trade Minister Maninder Sidhu having been in India with a business delegation. The agreement is also mentioned in talks between Canadian Prime Minister Mark Carney and his Indian counterpart, Prime Minister Narendra Modi, who is expected to visit Canada in December. Canada projects that a trade agreement could potentially elevate bilateral trade in goods and services to $70 billion by 2030, more than doubling the $30.4 billion recorded in 2025. While Canadian exports to India declined by 26.5% compared to the previous year, imports from India increased by 18.9%.\n\nRecent deals between Canada and India, such as a C$2.6 billion uranium supply agreement between Canadian company Cameco and India, and Fairfax Financial Holdings acquiring a majority stake in IDBI Bank for $5.56 billion, demonstrate growing economic cooperation between the two nations. Despite diplomatic tensions stemming from the 2023 killing of Sikh separatist Hardeep Singh Nijjar in Canada, both countries are working towards reconciliation. Anand acknowledged that rebuilding relations would take time, emphasizing that national security and respect for the rule of law remain crucial factors in the process.",
  "summary": "Canada aims to finalize a Comprehensive Economic Partnership Agreement with India by the end of this year. Foreign Minister Anita Anand emphasized the need for diversifying trade partnerships beyond reliance on the United States. Indian trade negotiators recently visited Canada as both nations work to strengthen economic ties. A significant uranium supply agreement between Cameco and India…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "Canada sees scope for more investments in India after Fairfax-IDBI bank deal, says Minister Sidhu",
        "url": "https://urgent.news/2026/10/14/canada-sees-scope-for-more-investments-in-india-after-fairfax-idbi",
        "published": "2026-10-14T16:04:33.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "India's US oil and gas imports plunged 43% in September as West Asia supplies recovered despite Trump’s push: Report",
        "url": "https://urgent.news/2026/10/14/indias-us-oil-and-gas-imports-plunged-43-in-september-as-west-asia",
        "published": "2026-10-14T16:12:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}