India and Canada launch formal CEPA negotiations, seal uranium and critical minerals cooperation, expand AI and university partnerships, and set an ambitious roadmap to deepen trade, talent exchange and strategic ties after recent diplomatic strains
New Delhi: India and Canada, on March 2, launched formal negotiations for a Comprehensive Economic Partnership Agreement (CEPA) and signed the Terms of Reference (ToR) at Hyderabad House in New Delhi, in the presence of Indian Prime Minister Narendra Modi. It marks the centrepiece of Prime Minister Mark Carney’s first official visit.
Union Commerce and Industry Minister Piyush Goyal and Canada’s International Trade Minister Maninder Sidhu signed the ToR in the presence of both Prime Ministers. The framework sets the format, frequency and approach for negotiations and aims to conclude an ambitious, balanced and mutually beneficial CEPA soon.
Prime Minister Modi said India seeks to raise bilateral trade to US$50 billion by 2030. It further unlocks the full potential of economic cooperation. Carney called the agreement a partnership built on new ambition and foresight.
The visit delivered major outcomes. Canada agreed to a US$2.6 billion uranium supply deal. Both sides expanded cooperation in critical minerals and announced 13 new university partnerships focused on AI research and talent exchange.
Modi later posted on social media that Carney’s visit added “new energy, mutual trust and positivity” to ties. In Mumbai, Mukesh Ambani and Nita Ambani hosted the Canadian delegation at their home, showcasing India’s cultural heritage.
With trade talks underway and strong people-to-people links, leaders projected a renewed phase in India–Canada relations.
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