Second round of FTA talks begins between India and Canada, know which issues will be discussed
Delhi. India and Canada on Monday began the second round of talks for a free trade agreement (FTA) with an aim to increase bilateral trade and investment. An officer gave this information. This agreement is officially called the Comprehensive Economic Partnership Agreement (CEPA). In this dialogue, trade in goods, services and other mutually agreed policy areas will be discussed.
“The five-day talks began here on May 4,” the official said. The first round of talks was held in March. This round is important as Commerce and Industry Minister Piyush Goyal will visit Canada by the end of this month to give impetus to the talks. This also signals the resumption of the negotiation process as Canada had put the talks on hold in 2023.
However, now both have decided to start the talks afresh in view of the changes in the global trade scenario in the last two years. This dialogue is also important because both sides have set a target of increasing bilateral trade to US$ 50 billion by 2030. In 2024-25 it will be US $ 8.66 billion ($ 4.22 billion exports and $ 4.44 billion imports).
Canada represents a market of 41.65 million people (2025) and a gross domestic product (GDP) of US$2340 billion on a purchasing power parity basis. Major exports from India to Canada include pharmaceuticals, iron and steel, marine products, cotton apparel, electronic goods and chemicals. Major imports include pulses, pearls and semi-precious stones, coal, fertilizers, paper and crude petroleum.
Major exports from India’s services sector include telecommunications, computer and information services and other business services. There are also over 4.25 lakh Indian students and a strong Indian community in Canada. Brij Mohan Mishra, Joint Secretary in the Department of Commerce, is the chief negotiator from the Indian side while Bruce Christie is the chief negotiator from Canada.
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