India and Canada have agreed to avoid pushing concessions in politically sensitive areas while negotiating a Comprehensive Economic Partnership Agreement (CEPA), Commerce and Industry Minister Piyush Goyal said, signalling a pragmatic approach aimed at securing achievable gains and accelerating the pace of talks.
“I remember when I was talking to Maninder Sidhu about speeding up CEPA negotiations, one of the first elementary decisions we both took was that ‘we won’t make perfect the enemy of the good’,” Piyush Goyal told an audience at the Ontario Centre of Innovation on May 27 (Wednesday).
He said both sides agreed to ‘capture the low‑hanging fruit’ and focus on areas of convergence rather than attempt to force sensitive issues into the agreement. “If something is sensitive for Canada, there is no sense in trying to egg on and get that into the CEPA. Likewise, if something is sensitive for India or the Indian public or Indian businesses, there is no sense that we break our heads trying to navigate that path,” he added.
The third round of CEPA negotiations is underway in Ottawa, with both governments aiming to conclude the pact by the end of this year. The two countries have set a joint target to raise bilateral trade from about USD 17 billion at present to USD 50 billion by 2030. Under the terms typical of such pacts, partners significantly reduce or eliminate import duties on many traded goods, ease rules for trade in services, and promote cross‑border investment. Piyush Goyal reiterated that, consistent with past practice, India will not grant market access in areas deemed sensitive such as certain agricultural commodities and dairy.
During his three‑day official visit, Piyush Goyal held meetings with government officials, business leaders, pension funds and insurance companies to promote investment in India. He highlighted India’s strengths, noting that the country “is known for protecting intellectual property” and hosts the world’s third‑largest startup ecosystem with about 230,000 registered startups. He also pointed to India’s Digital Public Infrastructure as a globally recognised capability that India has offered for public good.
Wrapped up a highly productive visit to Canada with an engaging interaction with members of the Canada-India Foundation.
Highlighted the important contribution of the Indo-Canadian community in bringing our two nations closer through stronger business engagement and… pic.twitter.com/NO0y7MZ7RZ
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Piyush Goyal identified priority areas for deeper bilateral cooperation and investment, including artificial intelligence, cleantech, agritech and deep tech. In meetings with institutional investors, he discussed large‑scale opportunities: with Jo Taylor, president and CEO of Ontario Teachers’ Pension Plan, Goyal explored investments across infrastructure, renewables, financial services, healthcare, technology and the digital economy; with John Graham, president and CEO of CPP Investments, discussions focused on expanding long‑term institutional investments in infrastructure, logistics, renewable energy, transportation, financial services and digital infrastructure.
Goyal’s comments underscore a negotiating strategy that balances commercial ambition with domestic political sensitivities on both sides. By prioritising negotiable items and investment facilitation, New Delhi and Ottawa hope to accelerate a deal that boosts trade and capital flows without reopening contentious domestic debates over sectors such as dairy and certain agricultural products.
India and Canada on Friday launched the Canada‑India Trade and Investment Forum to bring together business leaders from both countries and catalyse new commercial partnerships, the two governments said after Commerce and Industry Minister Piyush Goyal’s three‑day visit. The joint statement said the forum will promote enhanced connectivity- including people‑to‑people ties, business mobility and direct commercial linkages, as enablers of expanded trade and investment, and reaffirmed both sides’ commitment to an ambitious CEPA with a shared goal of concluding negotiations by year‑end; Canada will also lead a Team Canada trade mission to India later this year, Minister Maninder Sidhu confirmed.
There was a time when almost everyone thought building a global software company from Chennai was a bad idea. Back then, India was mostly known for IT outsourcing. If someone wanted to build a serious software product company, the advice was simple, move to Silicon Valley. Chennai was not seen as the place where billion-dollar tech firms were born.
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