New Delhi: India and Canada are making rapid progress on negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with both sides aiming to conclude talks ahead of Prime Minister Narendra Modi’s proposed visit to Canada in December, Indian High Commissioner to Canada Dinesh K. Patnaik said on Wednesday.
In an interview with IANS, Patnaik said the fourth round of CEPA negotiations had concluded and discussions were advancing quickly.
Moreover, he expressed confidence that the agreement could be finalised by November, in line with the commitment made by Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney to conclude negotiations within a year of their launch.
Patnaik said India hopes to be in a position to sign the trade pact during PM Modi’s visit, noting that the foundations of a comprehensive India-Canada partnership have been restored across key sectors including trade, investment, defence, aerospace, space, agri-food and energy.
Highlighting the significance of the proposed agreement, the Indian envoy said a CEPA would reduce tariff and non-tariff barriers, address technical trade hurdles and facilitate compliance requirements, thereby making it easier for businesses in both countries to operate.
The pact would also support increased investment flows, expand trade in services and ease the movement of people, goods and capital, giving a substantial boost to bilateral economic engagement, Patnaik told IANS.
The envoy also underscored Canada’s potential role as a long-term supplier of energy, critical minerals and aerospace products for India as the country pursues rapid economic expansion.
Patnaik said India’s growing economy would require larger quantities of resources, technology and advanced products, including agri-food items, energy, aerospace and defence equipment, space technology and artificial intelligence solutions.
According to him, closer economic cooperation between India and Canada can help both countries expand trade while strengthening broader strategic and economic partnerships.
He added that stronger engagement with countries that share commitments to democratic values, rule of law and open economies would create opportunities for long-term collaboration across multiple sectors.
(IANS)
