Canada-India negotiating economic partnership agreement to double two-way trade by 2030: PM Carney

Canada and India aim to double trade by 2030 through a new economic partnership, says PM Carney in Mumbai.

Canadian Prime Minister Mark Carney on Saturday (February 28, 2026) said his country is negotiating a comprehensive economic partnership agreement with India with the intention to double two-way trade by 2030.

It is expected to be signed by end of this year, Mr. Carney said while addressing the Canada-India Forum in Mumbai. The Canadian PM is on a four-day visit of India.

"This is an enormous opportunity for both our countries.. but it is one that is about to move to the next level. We should aim much higher, and we are aiming much higher, and to be more strategic in our partnership. And that's why, immediately after my election last year, our government set out to renew our relationship with India," he said.

"I invited Prime Minister Modi to the G7 Summit in Canada. When he came a few weeks later, we agreed to re-engage across security, energy and technology. A few months later, at the G20 Summit in Johannesburg, Prime Minister Modi and I launched a landmark partnership with Australia on critical minerals and technology," Mr. Carney said.

During this visit, Canada is focused on core areas where it can work together to create that greater sovereignty, greater choice, and greater prosperity for our people, he said.

"That naturally begins with food and energy, given Canada's position as a food and energy superpower," he said, adding that it also extends to nuclear cooperation, from being the most reliable long-term supplier of uranium to building large-scale and SMR (Small Modular Reactors).