Piyush Goyal pushes India-Canada CEPA, holds high-level talks with Canadian business leaders

 Union Commerce and Industry Minister Piyush Goyal held a series of high-level engagements in Toronto aimed at strengthening economic and investment ties between India and Canada, while advancing negotiations for the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA).

In a series of posts on X, Goyal said he addressed the opening ministerial plenary session titled “From Political Reset to Commercial Delivery” alongside Canada’s Minister of International Trade, Maninder Sidhu.

During the session, Goyal highlighted India’s continued efforts to improve ease of doing business and create an investor-friendly environment. He invited Canadian businesses and industry leaders to actively participate in India’s growth journey.

The Union Minister said the proposed CEPA would serve as a major catalyst for expanding bilateral trade and investment while opening new avenues for cooperation across sectors. He expressed confidence that the next phase of India-Canada economic relations would be driven by trust and shared prosperity.

Goyal also co-chaired the “Canada-India Investment Roundtable” with Sidhu, where discussions were held with leading Canadian pension funds, sovereign and institutional investors, members of the Canada-India Business Council, and other stakeholders.

The discussions focused on India’s infrastructure expansion, financial sector reforms and policy initiatives aimed at attracting global investments. Goyal invited investors to explore opportunities in clean energy, technology, digital infrastructure, artificial intelligence, manufacturing and supply chain diversification.

He also underlined the importance of stronger collaboration in financial markets to support sustainable economic growth in both countries.

During his visit, Goyal held separate meetings with several prominent business leaders and corporate executives.

He met V. Prem Watsa, Chairman & CEO, Fairfax Financial Holdings Limited, to discuss India’s economic growth trajectory and opportunities for collaboration in infrastructure, manufacturing, logistics, financial services and clean energy. The minister acknowledged Fairfax Financial Holdings’ long-standing investments in India, including its stake in Bengaluru International Airport.

Goyal also met Philip Witherington, President & CEO of Manulife Financial Corporation, to discuss investment opportunities in India’s expanding financial services ecosystem.

In another meeting, he interacted with Kevin Strain, President & CEO, Sun Life Canada, regarding opportunities for collaboration in insurance, retirement solutions, healthcare financing and long-term investments. Goyal noted Sun Life’s longstanding contribution to India’s insurance and financial services sector.

The Union Minister also held talks with Raymond Chun, President & CEO of Toronto Dominion Bank Group (TD Canada), on enhancing cooperation in banking, fintech, digital payments and investment facilitation.

In the strategic minerals sector, Goyal met Rahim Suleman, President & CEO of Neo Performance Materials, to discuss strengthening India-Canada cooperation in critical minerals, rare earth processing and advanced materials essential for clean technologies and future industries. The discussions also focused on building resilient supply chains and promoting value addition in the sector.

Goyal further met Max Koeune, President & CEO of McCain Foods, and discussed expanding cooperation in food processing, cold-chain infrastructure, sustainable agriculture and supply chain innovation. He acknowledged McCain Foods’ longstanding presence in India and its support for local farmers through potato sourcing initiatives.

During his visit, Goyal also paid tribute at the Air India Flight 182 Memorial at Humber Bay Park, remembering the victims of the 1985 Air India Flight 182 bombing. He met family members of several victims and reiterated that India and Canada are working together to ensure such tragedies are never repeated.

Addressing members of the Indian diaspora at a community reception hosted by the Consulate General of India in Toronto, Goyal highlighted India’s economic transformation under the leadership of Prime Minister Narendra Modi. He also emphasised the opportunities emerging through CEPA in trade, investment, innovation and people-to-people partnerships.

The minister said the Indian diaspora continues to act as a strong bridge between India and Canada through contributions in business, technology, academia and community leadership.

Goyal also visited the BAPS Shri Swaminarayan Mandir, where he offered prayers for peace, prosperity and well-being. He described the temple as a symbol of spirituality, harmony and the deep cultural ties connecting India and Canada.