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business/news//Outlook Business
Piyush Goyal is in Canada for a three-day official visit, starting May 25.
India and Canada aim to finalize a free trade agreement by the end of 2023.
KEY POINTS
Both countries set a target to triple bilateral trade to $50 billion by 2030.
Key sectors for the trade deal include energy, agri-food, technology, and education.
Brij Mohan Mishra and Bruce Christie are the chief negotiators for India and Canada respectively.
India and Canada are looking at concluding the negotiations for a free trade agreement by end of this year, Commerce and Industry Minister Piyush Goyal has said.
Goyal is in Canada for a three-day official visit, starting May 25. “Our prime minister’s have tasked us not only with completing the free trade agreement with a comprehensive outlook before the end of this year or earlier and tripling our trade from a current $17 billion level to $50 billion by 2030,” he has said, while jointly addressing the media in Ottawa with Canada's Trade Minister Maninder Sidhu on May 25.
In a social media post, Carney said: “We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market. We’re working fast — I met Minister @PiyushGoyal to review our progress so far and explore the opportunities ahead for both our countries in energy, agri-food, tech, and education”.
Canada is also home to over 4,25,000 Indian students and a strong Indian community. Joint Secretary in the Department of Commerce, Brij Mohan Mishra, is the chief negotiator from the Indian side. Bruce Christie is Canada's chief negotiator.