Union Commerce and Industry Minister Piyush Goyal concluded a three-day visit to Canada on May 28, 2026, with engagements spanning academia, technology institutions, business councils, investors, and members of the Indo-Canadian community.

The visit focused on strengthening trade and investment cooperation between India and Canada while advancing discussions related to the proposed Comprehensive Economic Partnership Agreement (CEPA).

University of Toronto Engagement
During the visit, Shri Piyush Goyal addressed faculty, researchers, and students at the Munk School of Global Affairs and Public Policy. The discussions highlighted India’s economic transformation, policy reforms, and opportunities for collaboration in trade, education, and investment.

The minister also spoke about the role of partnerships between policymakers, academic institutions, and businesses in strengthening India–Canada ties.

Source: Analysis by Kalkine 

Technology and Innovation Discussions
Shri Goyal visited the Ontario Centre of Innovation and held discussions with Canada-India Tech Connect regarding emerging technology sectors.

Areas discussed included Artificial Intelligence, Quantum Computing, cleantech, agritech, and deep technology collaborations. The meetings focused on opportunities for innovation partnerships and startup ecosystem engagement between the two countries.

Meetings With Canadian Leadership
The minister met Doug Ford to discuss cooperation opportunities across manufacturing, clean energy, infrastructure, technology, food processing, and critical minerals. The discussions also covered trade and investment partnerships between Ontario and India, particularly in sectors viewed as strategically important for both economies.

Business and Investment Engagements
Shri Piyush Goyal met Goldy Hyder of the Business Council of Canada to discuss commercial engagement and industry partnerships across infrastructure, technology, clean energy, and manufacturing sectors.

The minister also interacted with institutional investors including Jo Taylor and John Graham. Discussions focused on investments into India across infrastructure, renewable energy, healthcare, logistics, transportation, financial services, digital infrastructure, and manufacturing sectors.

India Business Delegation and Diaspora Outreach
The visit included participation from industry representatives from more than 100 Indian companies, making it one of the largest Indian business delegations to Canada.

Shri Goyal also held discussions with the Canada-India Foundation and highlighted the role of the Indo-Canadian community in supporting trade, investment, and people-to-people engagement between both nations.

Trade and CEPA Negotiations
India and Canada are continuing negotiations related to the Comprehensive Economic Partnership Agreement. Bilateral trade between the two countries currently stands at approximately USD 8.5 billion. Both governments are targeting expansion of bilateral trade to USD 50 billion by 2030 through broader economic cooperation and investment engagement.

Key Risks

• Geopolitical developments may affect progress in India–Canada trade negotiations.
• Global economic slowdown could influence bilateral investment and trade expansion targets.
• Policy and regulatory differences may delay CEPA negotiation timelines.
• Currency and commodity volatility may impact investment-related decisions across sectors.

Summary
Union Minister Piyush Goyal concluded a three-day Canada visit focused on trade, technology, investment, and CEPA negotiations. Meetings included Canadian government officials, institutional investors, business councils, and technology organisations. Discussions covered infrastructure, AI, clean energy, manufacturing, and critical minerals. India and Canada aim to expand bilateral trade from USD 8.5 billion to USD 50 billion by 2030 through deeper economic cooperation.

FAQs

Q1: What was the key objective of Piyush Goyal’s Canada visit?
A: The visit focused on trade expansion, investment partnerships, and CEPA negotiation progress between India and Canada.

Q2: Which sectors were discussed during the meetings?
A: Technology, infrastructure, clean energy, AI, manufacturing, logistics, healthcare, and critical minerals were discussed.

Q3: What is the bilateral trade target between India and Canada?
A: Both countries aim to expand bilateral trade to USD 50 billion by 2030.