India dispatches largest-ever business delegation to Canada as Piyush Goyal lands for high-stakes free trade talks

In a bid to fast-track free trade negotiations, Indian Commerce and Industry Minister Piyush Goyal landed in Canada on Monday, leading a 150-strong business delegation. The high-profile, three-day visit is the single largest trade delegation India has ever sent to Canada, hinting at a powerful push to ink the long-discussed Comprehensive Economic Partnership Agreement (Cepa) by the end of 2026.

The trade push comes during a period of significant diplomatic and economic renewal between New Delhi and Ottawa, following Canadian Prime Minister Mark Carney’s landmark visit to India on March 2, which effectively thawed bilateral relations and officially established the Terms of Reference for the renewed trade framework.

Fast-tracking a $50 billion vision

The sheer scale of the 150-member delegation reflects on India’s intent to diversify its economic partnerships amidst broader global volatility.

Top corporate executives and industry heads from India’s powerhouse sectors—including artificial intelligence, critical minerals, clean energy, aerospace, pharmaceuticals, and textiles—are joining the ministerial team.

According to data released by the Commerce Ministry, bilateral trade between the two nations hovered around $8.5 billion for the 2025–26 fiscal year. However, negotiators from both sides have locked in a highly ambitious target: expanding that trade volume to $50 billion (approximately CAD 70 billion) by 2030.

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A complementary economic marriage

During his three-day itinerary, which spans crucial bilateral dialogues in Ottawa and an extensive two-day corporate schedule in Toronto, Goyal is slated to hold talks with Canada’s Minister of International Trade, Maninder Sidhu, and Foreign Minister Anita Anand, alongside a scheduled courtesy call on Prime Minister Carney.

A primary focus for the Indian delegation will be tapping into Canada’s vast natural resource base to secure India’s long-term energy transition.

“Canada is exceptionally strong in oil, gas, critical minerals, and advanced mining, while India offers an unparalleled skilled workforce and immense manufacturing strengths. We are looking to increase the number of Canadian companies operating in India from 600 to over 1,000 in the coming years,” Union Minister Piyush Goyal said in a statement.

Wooing the ‘Maple 8’

Beyond standard merchandise trade, investment capital remains a top priority for New Delhi. Minister Goyal is scheduled to pitch directly to the CEOs of Canada’s massive “Maple 8” pension funds.

Indian officials are eager to secure heavy, long-term institutional investments from these multi-billion-dollar funds to fuel India’s domestic public infrastructure boom, particularly across highways, green energy grids, and digital networks.