Narendra Modi's Canada visit confirmed: Carney eyes trade deal by year-end

Carney said India and Canada were making progress in negotiations for a Comprehensive Economic Partnership Agreement (CEPA).

"We're making good progress in our trade negotiations with India," Carney said on the sidelines of the United Nations General Assembly, as quoted by CBC.

"It is an exceptionally important relationship, on many, many levels. People-to-people levels, security levels and also trade and economic," he said.

"[Modi] will be visiting Canada around that time," Carney said. "I very much look forward to hosting him."

The development comes after Canadian Minister of International Trade Maninder Sidhu met with India's Commerce and Industry Minister Piyush Goyal in Mumbai this week.

The ministers held discussions alongside Canada's and India's chief trade negotiators on strengthening trade and investment ties and advancing negotiations for the Canada-India CEPA.

"Minister Sidhu thanked Minister Goyal for his continued support and leadership in advancing the negotiations and reiterated Canada's commitment to conclude a mutually beneficial CEPA by the end of this year. Minister Sidhu also indicated that he was looking forward to leading a Team Canada Trade Mission to India next month to deepen Canada-India commercial partnerships and create new opportunities for Canadian businesses," the Canadian government said in a statement.

"My discussions with Minister Goyal this week are driving real progress toward an agreement that will double our two-way trade to $70 billion by 2030. India's rapid growth and Canada's advantage in energy, critical minerals, aerospace, AI and more mean enormous potential for our businesses and workers.

"By expanding our trade and investment relationship, we can diversify our exports and unlock new opportunities in one of the world's largest economies," Sidhu said.

The renewed trade push comes amid deteriorating diplomatic ties between India and Canada during the tenure of former PM Justin Trudeau.

The two nations later resumed trade talks in 2025 and later launched a fresh CEPA process.

Carney visited India earlier this year when he met PM Modi in New Delhi.

Quick facts

Four rounds of negotiations for the CEPA have been completed. Trade officials from the two countries will continue discussions to maintain momentum and narrow differences, with the shared objective of concluding negotiations by the end of 2026.

Canada aims to double its exports to markets beyond the United States over the next decade, including doubling two-way trade with India to $70 billion annually by 2030.

Two-way merchandise trade between Canada and India reached $13.6 billion in 2025.

Two-way trade in goods and services stood at $30.4 billion in 2025.

Canadian exports to India totalled $3.9 billion, led by vegetables, mineral fuels and oils, and wood pulp. Merchandise imports from India amounted to $9.7 billion, primarily comprising precious stones and metals, machinery and pharmaceutical products.

Canada's service exports to India were valued at $15.2 billion in 2025 and remained unchanged from the previous year. Education-related travel accounted for the largest share and represented 6.3 per cent of Canada's total service exports.

Service imports from India totalled $4.5 billion, up 3 per cent from 2024, and accounted for 1.9 per cent of Canada's total service imports.