Dec 07, Kathmandu - Indian Commerce and Industry Minister Piyush Goyal has discussed bilateral trade and investment promotion with Canadian International Trade Minister Maninder Sidhu. Goyal also announced that he will lead a high-level trade and investment delegation to Canada next year.

Goyal, through social media, said that the discussion was fruitful and that he had a useful dialogue with Minister Sidhu on expanding trade cooperation with Canada. Extensive discussions were held on the initial preparations, vision and objectives required for the launch of CEPA (Comprehensive Economic Partnership Agreement) negotiations. In addition, it was agreed to take a high-level trade and investment delegation to Canada in the new year.

According to the Ministry of Commerce and Industry, the total trade in goods and services between the two countries reached US$ 23.66 billion in 2024. Of this, merchandise trade accounted for about US$ 8.98 billion, which is about 10 percent more than the previous year.

Addressing the Indo-Canadian Chamber of Commerce and Industry in New Delhi on November 24, Goyal said there is great potential for partnership with Canada in areas such as critical minerals, mining technology, clean energy, nuclear energy and supply chain diversification.

According to him, India is capable of emerging technologies ranging from artificial intelligence, quantum computing, machine learning to next-generation data centers, which is further strengthened by the large number of STEM graduates produced.

Goyal said that India and Canada are “natural partners” and that mutually beneficial opportunities are growing for industries and businesses in both countries.