India and Canada Set to Finalize Comprehensive Economic Partnership Agreement

India and Canada Initiate Free Trade Agreement Talks

New Delhi: India and Canada have officially commenced discussions aimed at establishing a free trade agreement, with plans to finalize the deal in the near future, according to a statement released on Monday.

This agreement is referred to as the Comprehensive Economic Partnership Agreement (CEPA).

The Terms of Reference (ToR) for this agreement were signed by Piyush Goyal, the Minister of Commerce and Industry, alongside his Canadian counterpart Maninder Sidhu in New Delhi.

The signing took place in the presence of Prime Minister Narendra Modi and Canada's Prime Minister Mark Carney at Hyderabad House.

The ministry announced, "India and Canada have initiated negotiations for the Comprehensive Economic Partnership Agreement (CEPA) today in New Delhi and aim to finalize it soon."

The ToR will outline the structure, frequency, and methodology for the CEPA negotiations.

This framework is designed to guide the discussions towards achieving a comprehensive, balanced, and mutually advantageous agreement.