Bilateral trade between India and Canada has surged in the first eight months of 2026, marking significant growth ahead of Indian Prime Minister Narendra Modi’s scheduled visit to Canada in December. This increase underscores a strengthening of economic ties between the two nations as they work towards finalizing a Comprehensive Economic Partnership Agreement (CEPA).
Canada’s merchandise exports to India reached CA$3.03 billion from January to August 2026, a rise of 36.7% compared to the same period last year. The export growth was primarily driven by metals and minerals, which made up 41% of shipments, followed by agri-food products at 16.9%. Concurrently, Canadian imports from India totaled CA$7.05 billion, showing a 10.2% increase year-over-year.
This trade expansion is complemented by a series of high-level discussions and business initiatives aimed at bolstering bilateral relations. A Canadian trade delegation, comprising nearly 300 participants, successfully secured 34 commercial agreements valued at approximately CA$300 million. These agreements span across various sectors, including energy, critical minerals, and aerospace.
In addition to trade deals, both countries are actively engaged in negotiations to advance the CEPA, with five rounds of discussions already completed. Both India and Canada are optimistic about concluding the agreement by December, which is expected to further enhance trade and economic cooperation.
Discussions between Prime Minister Modi and his Canadian counterpart, Prime Minister Mark Carney, have focused on expanding trade, investment, and collaboration in areas such as mobility. As both nations look to strengthen their economic partnership, the upcoming visit by Modi is anticipated to play a vital role in pushing forward these collaborative efforts.