India and Canada launch trade and investment forum amid CEPA talks

India and Canada have launched a trade and investment forum to bring together businesses from both countries to promote commercial engagement, according to a joint statement issued on Friday. The two countries have also agreed to enhance connectivity between India and Canada, including people to people ties, business mobility, and direct commercial linkages, as essential enablers of expanded trade and investment, it said. The statement was issued after the conclusion of a three-day (May 25-27) official visit of Commerce and Industry Minister Piyush Goyal. He has held a series of meetings with business leaders besides holding a bilateral meeting with Canada's Minister of International Trade, Maninder Sidhu. "The Ministers launched the Canada-India Trade and Investment Forum as a key platform that brings together Canadian and Indian business leaders and fosters new commercial partnerships and increased business engagement," it said. They reiterated their commitment to advancing an

New Delhi: Union Minister of Commerce and Industry Piyush Goyal highlighted the role of the Indo-Canadian community in strengthening bilateral economic relations and deepening people-to-people ties during his three-day visit to Canada, which concluded on May 28 and focused on trade, investment and ongoing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).The visit included engagements with academia, innovation centres, government leaders, business councils, institutional investors and members of the Indian diaspora in Toronto and Ottawa.Also Read: Piyush Goyal meets Canadian pension funds, investors in push for $50 bn tradeAccording to the Ministry of Commerce & Industry, the engagements "reinforced the sustained momentum in the India-Canada economic partnership" and highlighted India as "a premier global destination for investment, technology collaboration, and long-term partnerships."During the visit, Goyal addressed faculty, researchers and students at the University of Toronto's Munk School of Global Affairs and Public Policy, where he spoke about India's economic progress and opportunities to strengthen bilateral trade, investment and people-to-people ties.He also visited the Ontario Centre of Innovation and held discussions with Canada-India Tech Connect on sectors including artificial intelligence and quantum computing. Goyal highlighted opportunities for cooperation in "AI, cleantech, agritech, and deep tech."In a key engagement, Goyal met Doug Ford, Premier of Ontario, to discuss collaboration in manufacturing, technology, infrastructure, clean energy, food processing and critical minerals.The minister also interacted with representatives of regional chambers and business leaders operating in the India-Canada corridor to discuss strengthening commercial engagement and boosting investment flows amid ongoing CEPA negotiations.Meetings were also held with institutional investors, including Ontario Teachers' Pension Plan and CPP Investments, on investment opportunities in infrastructure, renewables, logistics, financial services and the digital economy in India.Also Read: Piyush Goyal urges Canada for dual degrees to drive cooperation in education sectorThe minister encouraged businesses to explore partnerships in sectors such as clean energy, aerospace, infrastructure, food processing and technology, stating that India's "growing global economic stature is opening new avenues for Indian industry worldwide."He also interacted with members of the Canada-India Foundation and highlighted "the invaluable contribution of the Indo-Canadian community in bringing the two nations closer through stronger business engagement and people-to-people ties."Goyal led the largest-ever Indian business delegation to Canada, comprising representatives from more than 100 Indian companies. The visit focused on advancing bilateral economic ties and accelerating CEPA negotiations.According to the ministry, bilateral trade between India and Canada currently stands at around USD 8.5 billion, with both countries committed to expanding it to USD 50 billion by 2030.