Canada looks to fast-track India trade talks, invites Commerce minister Piyush Goyal for FTA push
Canada’s Minister of Export Promotion, International Trade and Economic Development Maninder Sidhu has invited Commerce and Industry Minister Piyush Goyal to visit the country in the third week of next month, the official added, as both sides move to firm up the next steps.The two countries have agreed to start afresh on the proposed pact, with officials noting that the global trade landscape has changed significantly over the past two years, warranting a renewed approach.
“Canada has expressed its desire to speed up the FTA negotiations,” the official said.Commerce Secretary Rajesh Agrawal said earlier this month that India and Canada are in the process of finalising the terms of reference (ToR) to formally kick off negotiations.
The ToR will set out the scope and modalities of the proposed agreement.Both sides have appointed their chief negotiators.
Brij Mohan Mishra, Joint Secretary in the Department of Commerce, will lead negotiations for India, while Bruce Christie has been named Canada’s chief negotiator.Bilateral trade data show India’s exports to Canada rose 9.8 per cent to $4.22 billion in 2024–25, up from $3.84 billion in 2023–24.
Imports from Canada dipped 2.33 per cent to $4.44 billion last fiscal year, compared with $4.55 billion a year earlier.
