India, Canada set for FTA talks

This move aims to strengthen the bilateral ties and the India-Canada Comprehensive Economic Partnership Agreement (CEPA)

March 10, 2022

In 2021, India’s bilateral goods trade increased by 12% to reach US$ 6.29 billion

In 2021, India’s bilateral goods trade increased by 12% to reach US$ 6.29 billion

Indian exports to Canada have increased by 25% over the previous period to reach US$ 3 billion

Major exports to Canada are drugs and pharmaceuticals, iron & steel products, marine products, cotton fabrics & readymade garments, and chemicals

India and Canada are scheduled to discuss issues around a bilateral trade agreement later this week with Canada’s Minister of International Trade, Export Promotion, Small Business, and Economic Development Mary Ng. As per the commerce and industry ministry, various bilateral trade and investment issues will be discussed during her visit from March 10-13 to further strengthen the bilateral ties and the India-Canada CEPA in the fifth India-Canada Ministerial Dialogue on Trade & Investment (MDTI).

In 2021, India’s bilateral goods trade reached US$ 6.29 billion, which was an increase of 12% from the previous year, and the total bilateral trade – including goods and services – crossed US$ 11 billion. Over April 2021-January 2022, Indian exports to Canada have increased by 25% over the previous period to reach US$ 3 billion.

The major Indian exports to Canada comprise drugs and pharmaceuticals, iron & steel products, marine products, cotton fabrics & readymade garments, and chemicals while key Canadian exports to India consist of pulses, fertilizers, coal, and crude petroleum.