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India and Canada are on the fast track to finalize a comprehensive free trade agreement that could significantly expand trade relations by the end of this year.
India and Canada are on track to finalize a free trade agreement by year-end.
KEY POINTS
The target is to increase bilateral trade from USD 17 billion to USD 50 billion by 2030.
Two rounds of CEPA negotiations are complete, with a third round underway in Ottawa.
The agreement aims to expand not only goods but also crucial services trade between the countries.
India and Canada are on the fast track to finalize a comprehensive free trade agreement that could significantly expand trade relations by the end of this year, as revealed by Commerce and Industry Minister Piyush Goyal.
During his official visit to Canada, Minister Goyal emphasized their ambition to triple the current trade value from USD 17 billion to an impressive USD 50 billion by 2030. This ambitious goal was further endorsed during a media address alongside Canada's Trade Minister, Maninder Sidhu.
The free trade negotiations, termed the Comprehensive Economic Partnership Agreement (CEPA), have seen two completed rounds, with a third round currently underway in Ottawa. Key exports and imports between the nations, coupled with crucial services, highlight the diverse nature of this burgeoning trade relationship.
(With inputs from agencies.)