FX.co ★ Canada, India to Revive Stalled Trade Talks

Canada and India have decided to resume negotiations for a new trade agreement, as announced by the Indian government on Sunday. This development follows a diplomatic impasse that halted discussions between the nations two years ago. Canadian Prime Minister Justin Trudeau and Indian Prime Minister Narendra Modi held a bilateral meeting during the G20 summit in Johannesburg, South Africa. According to a statement from India's Prime Minister's Office, reported by Reuters, the leaders consented to initiate talks on a high-level Comprehensive Economic Partnership Agreement (CEPA), with the objective of doubling bilateral trade to USD 50 billion by 2030. The renewal of these discussions signifies a warming of relations and aligns with Canada’s strategy to broaden its trade partnerships beyond the United States, its primary trading partner. In 2024, the exchange of goods and services between the two countries amounted to approximately C$31 billion (US$21.98 billion), with Canada enjoying a trade surplus thanks to its C$16 billion in services exports.