• Canada and India agree to restart trade discussions after a two-year pause.
• The target is to double bilateral trade to USD 50 billion by 2030.
• High-ambition Comprehensive Economic Partnership Agreement (CEPA) to be pursued.
• Diplomatic relations appear to be improving, despite past tensions.
• Key areas for collaboration include uranium supplies and emerging technologies.

Canada and India have officially agreed to restart stalled negotiations for a Comprehensive Economic Partnership Agreement (CEPA), with the objective of achieving USD 50 billion in bilateral trade by 2030. This announcement follows a two-year hiatus in discussions triggered by diplomatic tensions between the two nations. Both Prime Ministers, Mark Carney and Narendra Modi, initiated the trade negotiations during their recent meeting at the G20 summit in Johannesburg, South Africa, further signifying a thaw in relations, according to Reuters and Channel News Asia.

Commerce and Industry Minister Piyush Goyal emphasized that Canada and India do not compete but are natural allies, marking the trade talks as a restoration of trust. Both leaders acknowledged that they could leverage their unique strengths, especially in vital sectors such as nuclear energy and critical minerals, which include uranium supply arrangements. Goyal noted that this partnership could broaden supply chains, given the growing levels of mutual trade, despite Canada previously pausing negotiations amid accusations involving Indian involvement in the death of a Canadian Sikh separatist, as reported by India Times.

During the discussions, both leaders reaffirmed their commitment to civil nuclear cooperation and expressed intentions to expand collaborations in processing technologies and emerging sectors like AI and quantum computing. Despite past hardships in relations, trade between Canada and India has been on a growth trajectory, with the two nations' goods and services trade reaching approximately C$31 billion in 2024, highlighting the ongoing economic engagement, according to Reuters, Channel News Asia, and India Times.