MUMBAI, India, October 14 (ANI) — Canada’s Minister of International Trade, Maninder Sidhu, said negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with India were gaining momentum, with a potential conclusion expected in the coming months following the completion of the fifth round of talks.
Highlighting the energy and commitment behind the discussions, Sidhu said the partnership was anchored in mutual growth.
“What I can share is that the energy, focus and momentum are there. With Canada, it’s always about mutual prosperity. It’s not just about taking; it’s about giving and taking, shared responsibilities and mutual collaboration. And so, there’s a lot of collaboration,” Sidhu told ANI.
Sidhu is currently visiting India with a delegation of 300 Canadian business representatives, the largest Canadian trade mission to the country in 30 years. The delegation represents sectors including clean technology, space, aerospace and agricultural technology.
Expressing gratitude for the reception, he said, “I want to thank India for the hospitality extended to my delegation of 300 Canadian business delegates, the largest in 30 years. It’s something to celebrate. The last time this happened was in January 1996.”
Pointing to India’s rapid economic expansion, with growth of 6% to 7% year over year, Sidhu emphasized that Canada was well positioned to meet India’s growing energy, resource and infrastructure needs. He identified energy and critical minerals as key areas for cooperation.
“India is requiring about 70% more energy by 2035. We’re investing in plenty of LNG terminals in Canada. We’re going to be a top-five LNG exporter in the world. In addition to that, it’s about LPG. That’s part of the conversation,” Sidhu said.
He also highlighted potential cooperation in the nuclear sector, noting Prime Minister Narendra Modi’s SHANTI Act initiative to expand nuclear capacity twelvefold.
“Canada has the capabilities and nuclear technology, including uranium, to support India in its objectives. And so, when I talk about complementarities, I talk about that,” he said.
During meetings with major conglomerates in Mumbai, discussions also focused on alternative supply chains for critical minerals needed for electric vehicles (EVs) and advanced manufacturing.
“Canada is abundant in resources, and we’re looking for partners to get those resources out of the ground,” Sidhu said.
The trade discussions build on ongoing talks between Sidhu and India’s Minister of Commerce and Industry, Piyush Goyal. Sidhu welcomed India’s expanding trade strategy, noting that free trade agreements can lower tariffs and improve business competitiveness.
“As you know, India has signed agreements with the European Union, the United Kingdom and New Zealand, and now they’re looking to do a deal with Canada. We welcome that opportunity, and we’ll continue engaging with India for a fair deal that works for both of our countries,” Sidhu said, adding that current engagements represented “just the tip of the iceberg.”
Canada’s push for a trade agreement with India is partly driven by its efforts to reduce dependence on the United States.
Sidhu emphasized that market diversification was Ottawa’s central strategy for building long-term economic resilience and giving Canadian businesses greater access to global markets, even as negotiations with India advance.
Highlighting the strategic importance of expanding trade partnerships beyond a single market, Sidhu said heavy reliance on one buyer could leave suppliers vulnerable to price pressures.
“We have made it clear that Plan A is always diversification. Why is that important? If you have only one customer buying your product, they will dictate the price. So, we need to give our businesses options and opportunities, and that’s why Plan A is about diversification,” he said.
While reaffirming that the United States remains Canada’s largest and most important trading partner, Sidhu pointed to an expansion of trade agreements aimed at strengthening economic security.
“Since last year, we’ve signed multiple trade agreements with Indonesia and Ecuador. I just completed one with the UAE in a record 47 days, the fastest a trade agreement has ever been negotiated by Canada. With the European Union, we’re working on defense procurement. We’re now negotiating, as you know, with India, ASEAN, the Philippines, Saudi Arabia and Turkey,” he said.
Earlier Wednesday, Goyal met with Sidhu to discuss advancing negotiations for the India-Canada Comprehensive Economic Partnership Agreement.
India and Canada are working toward an agreement intended to create additional opportunities for businesses and workers in both countries. (ANI)
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