India Seeks Enhanced Partnership with Canada on Critical Minerals, to Advance Free Trade Talks
India Seeks Deeper Ties with Canada in Electric Vehicle and Energy Transition Plans
Commerce and Industry Minister Piyush Goyal on May 23 described Canada as a key partner for India's electric vehicle and energy transition plans, highlighting the need for deeper collaboration in critical minerals ahead of a visit by a delegation of over 150 business leaders to Ottawa and Toronto next week.
India expects greater Canadian investment and views the proposed India-Canada free trade agreement as "complementary, not competitive." Minister Goyal outlined the sectors where both countries could deepen economic engagement, noting that Canada's strengths lie in gas, oil, and mining, while India's sectors include textiles, leather, and skilling.
The delegation will hold roundtables, bilateral meetings, and discussions with Canadian pension funds to attract foreign direct investment into India. Canadian Prime Minister Mark Carney is also expected to meet Minister Goyal during the visit.
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India's Commerce Minister Piyush Goyal is scheduled to visit Canada from May 25-27, 2026, marking a significant step in reviving economic ties between the two countries. Bilateral relations came under strain in 2023, but officials on both sides have recently revived discussions on a proposed trade pact and broader investment cooperation.
| Country | Strengths in Gas, Oil, and Mining | Strengths in Textiles, Leather, and Skilling |
|---|---|---|
| Canada | ||
| India |
The finalisation of the India-Canada free trade agreement is among the key objectives of the visit, according to Minister Goyal. Earlier this month, the two countries concluded the second round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in New Delhi, covering areas including trade in goods and services, intellectual property rights, rules of origin, and technical barriers to trade.
Both sides agreed to continue negotiations, with the next round scheduled in Ottawa in July.
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Investor Takeaway
India seeks to strengthen its partnership with Canada on critical minerals to advance its electric vehicle and energy transition plans.
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