India-Canada Trade Deal | Canada "Working Fast" For "Game Changer" Trade Deal With India

Added: 2026-05-26

[00:00:02]Breaking news coming in in regard to the India-Canada [music] trade talks that have gained momentum.

[00:00:07]This is in Ottawa with Mark Carney.

[00:00:09]They're holding talks with Piyush Goyal.

[00:00:11]The Canadian Prime Minister says the trade deal is [music] going to be a game-changer with India and Canada on stronger economic ties and the focus really being on energy, tech, education, and also on agriculture. [music] It's the Canadian Prime Minister's recent visit to India that's helped pave the way for a complete reset of relationships between Canada and India.

[00:00:29]With [music] Piyush Goyal there, uh saying this is a partnership that's been reset very, very rapidly. [music] And this is after Carney's visit in February. The first visit by Canadian Prime Minister in 8 years has completely [music] changed the way basically changed the way Canada and India has looked at each other. So, there we have for that announcement that is coming about as far as India and Canada targeting the conclusion of that free trade [music] agreement by the end of this year. And it is Piyush Goyal there who has kickstarted his Canadian visit with that largest Indian business delegation ever. [music] Let's listen in to what Piyush Goyal has to say about what's coming out of this visit.

[00:01:06]This is a partnership that is being reset very, very rapidly.

[00:01:12]We had the visit of Prime Minister Mark Carney in India just a couple of months ago.

[00:01:19]And uh it was the first visit by a Canadian Prime Minister to India in 8 years.

[00:01:25]But I think it completely changed the way Canada and India looked at each other.

[00:01:33]It has set in motion the pathway to a complete overhaul of this relationship, setting new agendas, new goals in mission mode.

[00:01:46]And I can clearly see the speed and intent of both sides, >> [music] >> Canada Vishal, my colleague is us in order to get us the very latest on this. Well, Vishal, we're talking about this ambitious target that's been set by Prime Minister to complete the FTA by the end of this year or even earlier and triple our trade from 50 billion. This is to the tune of 50 billion US dollars or Canadian dollars perhaps by 2030.

[00:02:19]Yes, and right now the bilateral trade stands at around 17 billion dollars and that is what the Indian authorities have said that they want to triple that to about 50 billion dollars by about 2030.

[00:02:30]That is sort of in line with what the Indian side has been trying to do with many of the countries, many of the partners that it has on the international stage. It wants to amp up the opportunities, amp up the partnership to a certain level by 2030.

[00:02:44]We'll have to see what kind of opportunity this will entail, but many reports indicate that India is trying to bank on, you know, Canada's fuel exports, energy exports, and also the fact that it also has in its arsenal, you know, critical minerals. So, that could be crucial for the, you know, setting up of any semiconductor plants in India if if that's the plan. So, we'll have to see whether these talks will revolve around these main crucial points or not. So, but both sides have been quite positive about the talks and, you know, that marks a shift from what we had seen in the previous administration of, you know, when the previous Prime Minister was there from the Canadian side, the ties had hit all-time low and that took a severe, you know, that took a U-turn when the new Prime Minister was sworn in. Mark Carney came in and he has sort of consolidated, sort of solidified the partnership, and we'll have to see what direction it takes now.

[00:03:40]Right, absolutely. A reset as far as relationships between the two nations that had remained strained for quite a while, but all of that has changed under Mark Carney. Thank you so much, Vishal, for getting us the very latest. [music]