Canada is aiming to finalize negotiations on a comprehensive economic partnership agreement (CEPA) with India by the end of the year, the country's trade minister said during a visit to Mumbai.
Responding to questions on the pace of talks, the minister for international trade said he was upbeat about the timetable. "Im feeling very, very optimistic and energetic that we can get it done in the coming months," he told Reuters in an interview while in Indias financial capital.
Ottawa and New Delhi have maintained a schedule of engagement that could keep momentum through the autumn. Indian trade negotiators are expected to travel to Canada next month, and leaders from both countries are likely to meet on the sidelines of the G-20 gathering in December, the minister said.
Energy sector central to discussions
The minister identified the energy sector as a major strand of the negotiations. He noted that a Shell-led liquefied natural gas (LNG) export facility in Canada started operations last year and that Canada has five additional LNG projects progressing through various stages of development.
On how India might engage with those projects, the minister said: "Were having conversations with Indian firms on how they can access those projects, but also how they can invest and secure supply in those projects," but he declined to provide further specifics.
Beyond LNG, both countries are exploring expanded cooperation in nuclear energy. With India seeking to significantly increase its nuclear capacity, the minister highlighted Canada's established role in the nuclear industry and the potential for Canadian companies to support development of a supply chain in India. "Canada has a long history in the nuclear industry, and I do see a lot of benefit for Canadian companies and industries to help build up a supply chain here in India," he said.
Critical minerals and supply-chain security
The minister also said several large Indian corporate groups are examining investments in Canadian critical minerals projects as a means of securing supply chains, naming Reliance Industries, Mahindra and Mahindra and the JSW Group among those looking at opportunities. He added that firms are considering co-investment models as supply chains become increasingly politicised and strategically sensitive.
He did not supply additional detail on particular projects or the scale and timing of potential investments.
Next steps and remaining questions
With planned negotiation visits and the prospect of leaders meeting in December, Ottawa is signalling intent to press ahead with talks. However, the ministers comments also reflect limited public detail on the mechanics of investment, terms of market access in energy projects, and specific arrangements for critical mineral co-investments.
Those unresolved elements - and how they are addressed in forthcoming negotiation rounds - will shape the practical outcomes of any CEPA concluded by year-end.