Indian Railway Minister Piyush Goyal to Lead Delegation to Canada for Enhanced Trade and Investment Opportunities

India's Trade Minister Piyush Goyal to Visit Canada

India's Trade Minister Piyush Goyal will lead a delegation of approximately 150 Indian industry leaders on a visit to Canada between May 25 and May 27. The trip aims to strengthen trade and investment ties between the two countries.

As part of the visit, Goyal's delegation will hold meetings with Canadian ministers, business leaders, and industry groups in Ottawa and Toronto. The delegation's efforts come as India and Canada seek to revive economic engagement following diplomatic tensions that slowed bilateral trade talks.

India is expected to sign a free trade agreement with Canada, covering sectors such as energy and critical minerals. This agreement is also anticipated to create opportunities for Indian textile and leather companies. The agreement's terms of reference were finalized during Prime Minister Mark Carney's visit to New Delhi in March.

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During the trip, discussions will focus on cooperation in technology, food processing, clean energy, and critical minerals. Canadian pension funds and companies have invested nearly $100 billion in India, with approximately 600 Canadian companies operating in the country. Both sides aim to increase this number to 1,000.

India and Canada aim to reach $50 billion in bilateral trade over the next five years and increase Canadian investment. The two countries have renewed discussions on a broader trade deal and maintain strong ties in agriculture, energy, education, and technology.

Comparison of Canadian Investment in India

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Bilateral Trade Goals