TORONTO (TIP): Regular exchange of visits, including those by trade missions, has raised hopes of taking the ongoing dialogue to the logical conclusions for strengthening the bilateral trade between India and Canada.
Sources indicate that there have been considerable and positive developments ever since the resumption of talks between the two nations. This renewed focus follows high-level engagements, including a visit by the Canadian Prime Minister Mark Carney to India for the Canada-India Growth and Investment Forum in Mumbai, signaling a commitment to repairing and deepening economic ties.
As of March 2026, India and Canada have renewed their economic partnership, aiming to finalize a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026 to increase bilateral trade. The initiative focuses on enhancing investments in energy, critical minerals, and technology, with a goal to expand trade to CAD 70 billion (~INR 4.65 lakh crore) by 2030.
Key pillars of this initiative, as announced in the March 2026 joint statement, include both countries launching formal negotiations to create a durable economic anchor for trade, aiming for a final agreement by year-end 2026.
A focus on long-term liquefied petroleum gas (LPG) supply arrangements and investments in critical minerals, highlighted by a major uranium supply agreement with Kamico. Support for private investment, including pension fund participation in infrastructure and renewable energy. Strengthening ties through the National Payments Corporation of India and Payments Canada regarding instant payments and cross-border remittances. A Joint Work Plan under the India-Canada Energy Dialogue to explore long-term contracts and address trade logistics.
The Canadian Hindu Chamber of Commerce (CHCC) has decided to build further on this progress by constituting a dedicated India trade development committee under the chairmanship of a veteran business manager and promoter, Hemant Shah. The mandate of this committee would be to complement The Canadian Hindu Chamber of Commerce (CHCC), Toronto, along with its chapters across Canada, has an India Trade Development Committee to complement government initiatives and strengthen economic ties between Canada and India.
With over five decades of active involvement in the Manitoba–India trade, Hemant brings extensive experience across sectors, including agricultural exports (grains), mining equipment, aviation (corporate aircraft), machinery, and pilot training.
A seasoned global traveler, Hemant has made numerous visits to India and the subcontinent, earning him the nickname “Mr. India” of Winnipeg, Canada.
Hemant is a forward-thinking and community-minded business leader with more than five decades of experience in the promotion and development of international trade. He has successfully established export opportunities across India and the subcontinent and has been recognized with several prestigious awards from business communities and governments.
At CHCC, Hemant and his team look forward to collaborating closely with government officials and the private sector to further enhance bilateral trade and investment opportunities between the two nations.
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