NEW DELHI — Commerce and Industry Minister Piyush Goyal is scheduled to visit Canada leading a substantial business delegation comprising top executives from over 100 Indian corporations, as both nations work towards achieving a bilateral trade target of $50 billion, according to reports.
The high-level business mission will feature leadership from companies spanning multiple strategic industries including energy, metals and mining, aerospace, telecommunications, pharmaceuticals, agriculture, tourism, textiles, automotive components, and capital goods manufacturing. This diverse sectoral representation underscores the breadth of commercial opportunities both countries seek to explore and expand.
India-Canada trade relations have witnessed steady growth over recent years, with bilateral merchandise trade standing at approximately $8 billion in recent periods. The two Commonwealth nations have been negotiating a Comprehensive Economic Partnership Agreement (CEPA) to deepen economic ties, though talks have faced periodic challenges. Canada is home to a significant Indian diaspora exceeding 1.4 million people, which serves as a natural bridge for enhanced business and cultural exchanges.
The minister's visit assumes significance amid global supply chain realignments and India's push to diversify its trade partnerships beyond traditional markets. Canadian investments in India have been particularly notable in infrastructure, natural resources, and financial services, while Indian IT firms maintain a strong presence across Canadian provinces.