Canada eyes year-end finish for India trade pact, minister says

Canada is expressing confidence that negotiations on a comprehensive economic partnership agreement (CEPA) with India can be concluded by the end of the year, according to the country's minister for international trade.

Speaking during a visit to Mumbai, Trade Minister Maninder Sidhu said he was "very, very optimistic and energetic" that a deal could be reached in the coming months. The timeline echoes an earlier commitment by Canadian Prime Minister Mark Carney, who said during a trip to New Delhi in March that the two sides would aim to agree a free trade pact within the year.

Indian trade negotiators are expected to travel to Canada next month, Sidhu said, adding that leaders from both countries are likely to meet on the sidelines of the G-20 gathering in December.

Energy is emerging as a central area of discussion. A Shell-led liquefied natural gas export facility began operations in Canada last year, and five further projects are at various stages of development. Sidhu said Ottawa is in talks with Indian companies about how they can access those projects, as well as invest in them and secure supply. He declined to share further details.

Beyond LNG, the two countries are looking to deepen cooperation in nuclear energy, where India is seeking to significantly expand its capacity. Sidhu pointed to Canada's long history in the nuclear industry, saying he sees considerable scope for Canadian companies to help build up a supply chain in India.

Several large Indian business houses, including Reliance Industries, Mahindra and Mahindra, and the JSW Group, are exploring investments in critical mineral projects in Canada as a way to secure supply chains, Sidhu said, without elaborating. He noted that companies are examining co-investment options at a time when supply chains are increasingly being weaponised.