India-Canada trade sees double-digit growth amid PM Modi's December visit

Even as the two countries await the conclusion of the Comprehensive Economic Partnership Agreement (CEPA), merchandise trade between Canada and India has already increased by double digits between January and August this year.

Citing data from Statistics Canada, the Asia-Pacific Foundation of Canada pointed out that goods trade is “already humming along”, with Canada’s merchandise exports to India from January to August 2026 amounting to CA$ 3.03 billion, up 36.7 per cent year-over-year.

“That jump is the sixth-largest among Canada's 27 "principal trading partners" as defined by Statistics Canada,” it noted.

Canadian metals and minerals exports to India topped the list, comprising 41 per cent of those exports, followed by agri-food at 16.9 per cent. Canada’s merchandise imports from India over the same period totalled CA$ 7.05 billion, up 10.2 per cent year-over-year.

In 2025, Canadian merchandise exports to India totalled CA$3.9 billion, and imports amounted to CA$9.7 billion.

That data comes as the two countries had what Vina Nadjibulla, co-founder and CEO of the Centre for Strategic Statecraft, described as one of the “biggest weeks” in bilateral relations.

“We’re seeing something remarkable,” Nadjibulla said, adding, “There’s a lot of momentum, quite a bit of political will.” She said that beyond CEPA, other conversations will progress in parallel, including on mobility.

The movement in India-Canada relations

The two Prime Ministers, Narendra Modi and Mark Carney, had a telephone conversation on Tuesday, even as Canadian minister of foreign affairs Anita Anand travelled to the country and minister of international trade Maninder Sidhu led a nearly 300-strong trade mission.

After completing the Team Canada Trade Mission, Sidhu said it had secured 34 commercial agreements valued at close to CA$300 million for Canadian businesses.

“From energy and critical minerals to aerospace, Canadian companies have built valuable connections that will strengthen our long-term partnership with one of the world's fastest-growing major economies. Canada is ready to be the reliable partner India needs, and the opportunities secured on this mission will deliver lasting benefits for our workers and businesses,” he added in a release issued by Global Affairs Canada, the country’s foreign ministry, on Friday.

Sidhu also met commerce and industry minister Piyush Goyal to “advance negotiations” towards the CEPA. Five negotiating rounds have been completed, and negotiators are expected to meet twice as they aim to conclude talks by December, the deadline set by the two PMs.

Sidhu and Goyal have met 10 times since May 2025, the release stated.

With Modi’s bilateral visit to Canada scheduled for the second week of December, the trajectory of the renewed relationship could remain positive.