India–Canada Trade Partnership Expands with 34 Commercial Agreements Worth CAD 300 Million as CEPA Talks Advance

India and Canada are strengthening their economic partnership, with 34 commercial agreements worth nearly CAD 300 million announced following Canada’s largest trade mission to India in three decades. The development comes as both countries accelerate negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aimed at expanding bilateral trade, investment and industrial cooperation.

Canada’s Minister of International Trade, Maninder Sidhu, led a delegation of nearly 300 representatives to Mumbai and Bengaluru during October 2026. The mission brought together business leaders, investors and government representatives from both countries to explore opportunities across aerospace, space technology, artificial intelligence, clean energy, advanced manufacturing and other emerging sectors.

According to an official announcement issued by Global Affairs Canada on October 16, the trade mission resulted in 34 commercial agreements valued at approximately CAD 300 million. The agreements highlight expanding business engagement between Indian and Canadian enterprises as the two governments work towards establishing a comprehensive trade framework.

Largest Canadian Trade Mission to India in 30 Years

The Team Canada Trade Mission represented Canada’s most extensive business delegation to India in 30 years. Led by Minister Maninder Sidhu, the delegation visited Mumbai and Bengaluru to strengthen commercial relationships and identify new investment opportunities.

The mission focused on sectors where Indian and Canadian companies possess complementary capabilities, including aerospace, space technology, clean technology, energy transition, information and communication technology, life sciences and agricultural products.

During the visit, Sidhu participated in business forums, industry roundtables and meetings with Indian companies. Discussions centred on improving commercial partnerships, strengthening industrial supply chains and expanding access to emerging technologies.

The 34 commercial agreements worth nearly CAD 300 million represent an important outcome of these engagements, demonstrating growing interest among companies in both countries in developing long-term business relationships.

India and Canada Accelerate Comprehensive Economic Partnership Agreement Negotiations

Alongside the commercial announcements, India and Canada continued negotiations for the proposed Comprehensive Economic Partnership Agreement.

Minister Sidhu met Union Commerce and Industry Minister Piyush Goyal in New Delhi and Mumbai to advance the negotiations. According to Global Affairs Canada, the two ministers have met ten times since May 2025, reflecting sustained engagement between their governments.

The proposed CEPA seeks to establish a comprehensive framework for trade in goods and services while improving market access and strengthening investment cooperation.

India and Canada formally launched CEPA negotiations on March 2, 2026, when Piyush Goyal and Maninder Sidhu signed the Terms of Reference in New Delhi. The agreement established the framework and procedures for negotiations covering trade in goods, services and other mutually agreed areas.

Both governments subsequently reaffirmed their objective of concluding negotiations by the end of 2026.

The latest discussions seek to build on that commitment and translate expanding commercial engagement into a more structured bilateral economic partnership.

Bilateral Trade Target Set at CAD 70 Billion by 2030

India and Canada have established an ambitious objective of expanding their bilateral trade in goods and services to CAD 70 billion annually by 2030.

According to Global Affairs Canada, two-way trade reached CAD 30.4 billion in 2025, including CAD 11 billion in merchandise trade.

Canadian merchandise exports to India amounted to approximately CAD 3.9 billion, primarily consisting of vegetables, mineral fuels, oils and wood pulp. Merchandise imports from India reached CAD 9.7 billion, with precious stones and metals, machinery and pharmaceutical products among the major categories.

Services trade also represents an important component of the bilateral relationship, particularly in education, information technology, professional services and business operations.

The proposed CEPA is expected to support further growth by improving commercial access and creating a more predictable framework for businesses operating across both markets.

Aerospace and Space Technology Cooperation Gains Attention

Aerospace and space technology featured prominently during the Canadian trade mission.

In Bengaluru, Minister Sidhu participated in an aerospace industry roundtable involving Canadian and Indian companies. The discussions explored opportunities for industrial collaboration and technological partnerships.

Canadian officials also engaged with Air India and Dynamatic Technologies, two Indian companies with established roles in aviation and aerospace-related activities.

The meetings created opportunities to examine cooperation in aerospace manufacturing, specialised components, advanced engineering and associated technologies.

India’s expanding aerospace manufacturing ecosystem offers opportunities for international industrial partnerships, particularly in precision engineering, aircraft components and technology-intensive manufacturing.

The Bengaluru discussions reflect growing interest in connecting Canadian aerospace capabilities with India’s developing aviation and space technology industries.

Major Partnerships Announced in Aerospace and Advanced Manufacturing

The Canadian government’s official list of trade mission outcomes identifies several partnerships involving Indian aerospace companies.

Comtech Satellite Network Technologies and Rangsons Aerospace signed an agreement to collaborate on advanced satellite communications technologies. Logic Air established partnerships with Genser Aerospace, GMR Aero Technic and Max Aerospace to support aircraft engineering, maintenance-related services and military aviation platform modernisation.

Another important development involves MDS Aero Support Corporation and Tata Projects, which are establishing a strategic partnership focused on aero-engine testing infrastructure in India.

These collaborations can strengthen India’s aerospace engineering capabilities and create opportunities for domestic companies to participate in advanced manufacturing and international supply chains.

Clean Energy, Electric Vehicles and Critical Technologies Attract Investment

Clean energy and sustainable technology formed another major component of the trade mission.

Canadian company eLeapPower and India’s Napino Auto & Electronics announced plans to establish a joint venture to manufacture integrated power electronics solutions in India. The partnership will support the country’s expanding electric vehicle industry.

Other agreements include cooperation between Zen Energy and Nsure Energy in battery-cell manufacturing technologies, while Hygge Energy announced partnerships with Indian enterprises to promote rooftop solar installations, financing and digital energy services.

ASAsoft and Aditya Birla Insulators are also pursuing commercialisation of advanced composite insulator technologies by combining Canadian innovation with Indian manufacturing capabilities.

These initiatives create opportunities for India to expand domestic manufacturing in electric mobility, renewable energy and advanced electrical equipment.

Artificial Intelligence, Education and Research Partnerships Expand

The trade mission also produced agreements involving artificial intelligence, digital technologies and higher education.

Canadian company Deepspatial signed an agreement with the IIT Tirupati Navavishkar I-Hub Foundation to collaborate on geospatial technologies and spatial artificial intelligence. Other agreements involve secure AI solutions, smart-factory technologies and enterprise automation.

Minister Sidhu also met representatives of India’s Yotta Data Services to discuss opportunities for the company to establish an artificial intelligence innovation hub in Canada.

Educational institutions from both countries announced research and training partnerships. Dalhousie University, IIT Tirupati and IISER Tirupati established a joint doctoral research arrangement, while the University of Calgary and IIT Roorkee agreed to collaborate on civil engineering and water-related research.

These partnerships will support knowledge exchange, advanced research and the development of skilled professionals in emerging technological fields.

India–Canada Investment and Industrial Cooperation Gains Momentum

Investment flows between India and Canada provide an important foundation for expanding economic cooperation.

According to official Canadian figures, Canada’s direct investment in India reached CAD 11.4 billion in 2025, while Indian foreign direct investment in Canada amounted to CAD 9.7 billion.

Canadian pension funds and asset managers also reported approximately CAD 108 billion in total exposure to India in 2025, including portfolio investments and other financial holdings.

The latest trade mission added new commercial initiatives, including an investment announcement by Indian IT company Happiest Minds in New Brunswick, Canada.

Infrastructure cooperation also received attention, with the Port of Montreal and Adani Ports and Special Economic Zone renewing their memorandum of understanding for five years. The agreement supports logistics cooperation and development of the Mundra–Montreal shipping corridor.

These developments highlight opportunities for stronger commercial connections between Indian manufacturing, infrastructure, technology and international financial markets.

Modi–Carney Discussions Reinforce Economic Partnership

The growing commercial engagement follows renewed diplomatic discussions between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney.

During their telephone conversation on October 13, 2026, both leaders welcomed progress in bilateral relations and reaffirmed their commitment to concluding CEPA negotiations at the earliest opportunity.

They discussed cooperation in finance, defence, security, artificial intelligence, energy and people-to-people exchanges.

The leaders also welcomed the Canadian trade mission and ongoing ministerial engagements, recognising the importance of expanding practical cooperation between the two countries.

Their discussions came ahead of Prime Minister Modi’s planned visit to Canada in December 2026, providing further momentum for high-level bilateral engagement.

India–Canada Economic Partnership Enters a New Phase

The announcement of 34 commercial agreements worth nearly CAD 300 million demonstrates the expanding participation of businesses in India–Canada economic cooperation.

The agreements cover sectors closely connected with India’s industrial and technological development, including aerospace manufacturing, clean energy, artificial intelligence, infrastructure, healthcare and advanced engineering.

Alongside these commercial initiatives, the ongoing CEPA negotiations provide an opportunity to establish a stronger framework for bilateral trade and investment.

With both countries pursuing a CAD 70 billion annual trade target by 2030, the latest developments strengthen the foundation for sustained economic cooperation.

The combination of growing business partnerships, technology collaboration and renewed diplomatic engagement marks an important step towards a more diversified and productive India–Canada economic relationship.

---

References

1. Global Affairs Canada — October 16, 2026: Minister Sidhu Concludes Largest Team Canada Trade Mission to India in 30 Years
2. Global Affairs Canada — October 16, 2026: Official Factsheet: 34 Commercial Agreements and Partnerships Announced During the Trade Mission
3. Global Affairs Canada — October 13, 2026: Minister Sidhu Meets India’s Commerce and Industry Minister to Advance Trade and Investment Priorities
4. Prime Minister of Canada — October 13, 2026: Prime Minister Mark Carney Speaks with Prime Minister Narendra Modi
5. Press Information Bureau, Ministry of Commerce and Industry — May 29, 2026: Canada–India Joint Statement: 2026 Trade and Investment Forum
6. Press Information Bureau — October 14, 2026: Foreign Minister of Canada Calls on Prime Minister Narendra Modi

---