India and Canada sign Terms of Reference and launch CEPA negotiations
Commerce Minister Piyush Goyal and Canada's Trade Minister Maninder Sidhu signed the Terms of Reference for an India–Canada Comprehensive Economic Partnership Agreement at Hyderabad House, New Delhi, on 2 March 2026.
Summary
Commerce and Industry Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu signed the Terms of Reference (ToR) for the India–Canada Comprehensive Economic Partnership Agreement (CEPA) on 2 March 2026; the documents were exchanged before Prime Ministers Narendra Modi and Mark Carney at Hyderabad House, New Delhi, formally launching negotiations. The ToR sets the format, frequency and approach of talks covering trade in goods, services and other agreed areas, with both sides aiming to conclude the deal soon and reach bilateral trade of US$50 billion by 2030. Bilateral trade stood at US$8.66 billion in 2024-25 (exports US$4.22 billion, imports US$4.44 billion). India mainly exports drugs and pharmaceuticals, iron and steel, seafood and garments, and imports pulses, coal, fertiliser and paper. Canada is home to over 4.25 lakh Indian students.
Key facts
- Date and place
- 2 March 2026, Hyderabad House, New Delhi
- Signatories
- Piyush Goyal; Maninder Sidhu
- Scope
- Goods, services, other agreed areas
- Trade 2024-25
- US$8.66 billion (exports 4.22; imports 4.44)
- Target
- US$50 billion by 2030
- Indian students in Canada
- Over 4.25 lakh
Practice MCQs 3 questions
Who signed the Terms of Reference for the India–Canada CEPA on behalf of India on 2 March 2026?
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Correct answer: A — Piyush Goyal
Commerce and Industry Minister Piyush Goyal signed the ToR with Canada's Trade Minister Maninder Sidhu.
What bilateral trade target by 2030 did India and Canada set while launching CEPA negotiations?
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Correct answer: D — US$50 billion
PM Modi said the goal is to take bilateral trade to US$50 billion by 2030.
According to the Commerce Ministry, what was India–Canada bilateral trade in FY 2024-25?
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Correct answer: A — US$8.66 billion
Bilateral trade was US$8.66 billion in 2024-25, with exports of US$4.22 billion and imports of US$4.44 billion (DGCI&S).