India and Canada Eye Swift Conclusion of Trade Agreement

India's High Commissioner to Canada, Dinesh Patnaik, has expressed confidence that India and Canada may finalize a comprehensive trade agreement within a year, despite encountering previous delays. This optimistic outlook comes ahead of Canadian Prime Minister Mark Carney's anticipated visit to India, where discussions will focus on the evolving geopolitical landscape and the mutual benefits of expanded trade.

Negotiations for the Comprehensive Economic Partnership Agreement (CEPA), which began in 2010, have experienced multiple interruptions. However, recent agreements between Indian Prime Minister Narendra Modi and Carney to formally relaunch talks signal renewed momentum. The agreement aims to enhance trade in various sectors, including goods, services, agriculture, and digital commerce.

During the G20 Summit in Johannesburg, Modi and Carney committed to high-level discussions for doubling bilateral trade to USD 50 billion by 2030. Carney's visit to India in March is expected to further these ambitions, with prospective deals on uranium, energy, minerals, and artificial intelligence. Patnaik highlighted the complementary nature of the two economies, noting minimal policy conflicts and substantial experience in trade negotiations, paving the way for a potentially successful agreement.