India, Canada agree on framework for comprehensive economic partnership
India and Canada have agreed on the terms of reference for a comprehensive economic partnership agreement, marking a significant step toward strengthening trade and investment ties between the two countries.
The development was announced on Monday by India’s foreign ministry following bilateral talks in New Delhi between Indian Prime Minister Narendra Modi and his Canadian counterpart, Mark Carney.
Speaking during a joint press appearance, Modi said both nations were committed to deepening economic cooperation and boosting two-way trade to 50 billion dollars by 2030. He noted that the agreement’s framework would guide negotiations aimed at expanding market access, encouraging investment flows, and enhancing collaboration across key sectors.
The meeting, held at Hyderabad House in the Indian capital, underscored renewed engagement between the two countries amid evolving global trade dynamics.
Officials said the agreed terms of reference would lay the groundwork for formal negotiations toward a comprehensive economic partnership agreement, which is expected to address trade in goods and services, regulatory cooperation, and other areas of mutual economic interest. Further details on the timeline for negotiations were not immediately disclosed.
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