CEPA reboot: Canada's Carney to visit India this week, reset of $70 billion trade talks on the cards

Canadian prime minister Mark Carney will arrive in India on February 26, kickstarting a three-nation Indo-Pacific tour aimed at diversifying Canada’s trade and attracting new investment, according to an official statement from Ottawa.

The visit, Carney’s first standalone trip to India since taking office, is being positioned as a key pillar in Canada’s efforts to diversify its trade and energy alliances.

High-level talks in New Delhi

In New Delhi, Carney is scheduled for a bilateral summit with Prime Minister Narendra Modi. The discussions are expected to span trade, clean energy, and a new "trilateral innovation pact" involving Australia. Officials say the meeting is a critical opportunity to stabilise a relationship that was effectively frozen for two years.

Reviving a stalled partnership

A major priority is the formal revival of the comprehensive economic partnership agreement (CEPA). While India and Canada had momentum in early 2022, negotiations were abruptly paused in September 2023 following a major diplomatic rift over the Nijjar allegations by the then prime minister Justin Trudeau. The subsequent "deep freeze" saw a suspension of visa services and a halt to ministerial dialogues, leaving over $3 billion in joint economic projects in limbo.

The revival began in November 2025, when PM Modi and PM Carney met on the sidelines of the G20 Summit in Johannesburg. There, the two leaders agreed to move past the 2023 deadlock, setting an ambitious target to more than double bilateral trade to $70 billion by 2030.

Energy, critical minerals, and tech

With India projected to account for a third of global energy demand growth over the next two decades, energy security will be the visit's "economic anchor." Both sides are expected to finalise long-term uranium supply arrangements and discuss critical mineral corridors essential for the EV battery sector.

Additionally, the newly launched Australia-Canada-India Technology and Innovation (ACITI) Partnership will see its first major rollout, focusing on AI, digital public infrastructure, and secure supply chains.

Business engagement in Mumbai

Prime Minister Carney will first touch down in Mumbai, where he is expected to meet with top Indian CEOs and institutional investors. For Canada’s massive pension funds, India remains a priority infrastructure market; for Indian conglomerates, the visit offers a chance to secure predictable access to North American resources and tech.