Bilateral trade between India and Canada is experiencing significant growth, with merchandise trade showing double-digit increases in the first eight months of 2026. This surge in trade activity comes as Indian Prime Minister Narendra Modi prepares for his upcoming visit to Canada in December, signaling strengthened economic ties between the two nations.
Canada’s merchandise exports to India have reached CA$3.03 billion from January to August 2026, marking a substantial 36.7% rise compared to the same period last year. The export growth is predominantly driven by metals and minerals, which constitute 41% of the shipments, followed by agri-food products at 16.9%. On the import side, Canada has seen a 10.2% increase in merchandise imports from India, totaling CA$7.05 billion during the same timeframe.
The previous year, 2025, saw Canadian exports to India amounting to CA$3.9 billion, while imports from India were CA$9.7 billion. This positive trend highlights the expanding economic relationship between the two countries, further boosted by high-level discussions and business initiatives.
A Canadian trade delegation, consisting of nearly 300 participants, recently secured 34 commercial agreements valued at approximately CA$300 million. These agreements span various sectors, including energy, critical minerals, and aerospace, reinforcing the collaborative efforts between the two countries.
In addition to these developments, India and Canada are actively working on a Comprehensive Economic Partnership Agreement (CEPA), with five rounds of negotiations already completed. Both nations aim to finalize the agreement by December, fostering further growth in trade, investment, and cooperation in areas such as mobility.
Leaders from both countries, including Prime Minister Modi and Canadian Prime Minister Mark Carney, have engaged in discussions to enhance bilateral relations. Officials continue to strive for expanded trade opportunities and strengthened ties as part of the broader effort to solidify economic partnerships.