Union Minister of Commerce and Industry Shri Piyush Goyal intensified efforts to strengthen India-Canada economic relations during the second day of his official visit to Canada, holding a series of high-level meetings with Canadian business leaders, institutional investors, and government representatives in Toronto.
The engagements focused on expanding bilateral trade, attracting investments, promoting technology partnerships, and accelerating negotiations for the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA).
The day commenced with Shri Goyal delivering the keynote address at the Canada–India Building Bridges event held at the World Trade Centre Toronto. The event was jointly hosted by Global Affairs Canada, the Confederation of Indian Industry (CII), and ASSOCHAM, and drew participation from over 150 representatives from industry bodies, investor groups, and businesses operating across sectors such as advanced manufacturing, pharmaceuticals, biotechnology, clean technology, energy, and oil and gas.
During his address, Shri Goyal highlighted India’s rapidly growing economy, policy reforms, and investment-friendly environment. He emphasized that India and Canada possess strong economic complementarities and can emerge as trusted partners in areas such as innovation, clean energy, technology, and advanced manufacturing.
A key highlight of the day was a fireside chat between Shri Goyal and Canada’s Minister of International Trade, Mr. Maninder Sidhu. The two leaders discussed ways to create a more predictable and robust business ecosystem through stronger collaboration between governments and industries.
Minister Sidhu welcomed the presence of the largest-ever Indian business delegation to Canada and announced that a Team Canada Trade Mission would visit India in November this year. The mission is expected to bring Canadian companies to India to explore opportunities in strategic sectors including artificial intelligence, critical minerals, semiconductors, renewable energy, nuclear energy, digital infrastructure, clean technology, and advanced manufacturing.
Both sides reiterated their commitment to expanding bilateral trade to USD 50 billion by 2030 and expressed confidence about concluding CEPA negotiations by the end of the year.
Shri Goyal also co-chaired the Canada–India Investment Roundtable along with Minister Sidhu. The meeting brought together leading Canadian pension funds, financial institutions, banks, and senior government officials from both nations.
Discussions at the roundtable focused on India’s infrastructure expansion, financial sector reforms, and initiatives aimed at improving the ease of doing business. Shri Goyal invited global investors to participate in India’s growth story by investing in sectors such as clean energy, artificial intelligence, digital infrastructure, manufacturing, and supply chain diversification.
The Union Minister also stressed the importance of strengthening cooperation in financial markets to support sustainable development and long-term economic prosperity for both countries.
Apart from official meetings, Shri Goyal held several one-on-one interactions with executives of major Canadian companies engaged in insurance, food processing, banking, and critical minerals processing. Discussions revolved around India’s macroeconomic outlook, the government’s push for trade agreements, Production Linked Incentive (PLI) schemes, and the availability of a highly skilled STEM workforce that has contributed to the rapid growth of Global Capability Centres (GCCs) in the country.
The minister underlined that India’s improving regulatory environment and policy stability continue to make the country an attractive destination for global investment.
During his visit to Toronto, Shri Goyal also paid tribute to the victims of the Air India AI 182 terror attack by visiting the Kanishka Memorial at Humber Bay Park. He laid a wreath and interacted with family members of the victims, offering condolences and remembering those who lost their lives in one of the deadliest aviation terror attacks in history.
The day concluded with a reception hosted by the Consulate General of India in Toronto at the Pearson Convention Centre in Brampton. Addressing members of the Indian diaspora, Shri Goyal praised the community’s contribution to strengthening the India-Canada relationship and enhancing the business corridor between the two nations.
He noted that the Indian diaspora has an important role in expanding trade and investment linkages while also fostering cultural exchange and community engagement across Canada.
Shri Goyal is leading a delegation comprising representatives from over 100 Indian companies during the three-day visit, which began in Ottawa on May 25. The visit is being viewed as a significant step towards reviving and deepening India-Canada economic relations at a time when both countries are seeking stronger cooperation in trade, technology, and investment.PiyushGoyal
Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
