**Executive Summary**
Union Minister Shri Piyush Goyal concluded a three-day landmark visit to Ottawa and Toronto, Canada, on May 28, 2026. The visit aimed to accelerate negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA) and strengthen bilateral investment across emerging technology and infrastructure sectors. Key outcomes include the proposal for a "Startup Bridge" and a shared commitment to expand bilateral trade from USD 8.5 billion to USD 50 billion by 2030.
**Key Points / Main Content**
**Trade and Economic Policy**
* Focused on the full revival of India-Canada economic relations through the acceleration of CEPA negotiations.
* Set an ambitious bilateral trade target of USD 50 billion by the year 2030.
* Led the largest-ever Indian business delegation to Canada, featuring over 100 industry leaders.
* Emphasized the role of the India-Canada CEO Forum in deepening business-to-business ties.
**Innovation and Technology Collaboration**
* Proposed the initiation of a "Startup Bridge" to link the innovation ecosystems of both nations.
* Identified critical areas for collaboration in Artificial Intelligence (AI), Quantum Computing, Deep Tech, Cleantech, and Agritech.
* Engaged with the Ontario Centre of Innovation to foster collaboration between industry, academia, and government.
**Investment and Infrastructure**
* Held high-level discussions with major institutional investors, including CPP Investments and the Ontario Teachers’ Pension Plan.
* Highlighted investment opportunities in India’s infrastructure, renewable energy, logistics, healthcare, and digital economy.
* Explored cooperation with the Premier of Ontario in manufacturing, food processing, and critical minerals.
**Stakeholder Engagement**
* Interacted with regional chambers to gain feedback on boosting investment flows and business collaboration.
* Addressed faculty and students at the Munk School of Global Affairs and Public Policy regarding India’s economic transformation.
* Recognized the Indo-Canadian community’s role in strengthening people-to-people and economic ties through the Canada-India Foundation.
**Impact Analysis**
**Indian Businesses and Industry Leaders**
**Impact**
Enterprises gain expanded access to Canadian markets and a structured framework for global footprint expansion in sectors like aerospace, clean energy, and food processing.
**Action Required**
Indian companies are encouraged to actively explore partnerships and investment opportunities in Canada’s high-growth sectors and utilize the proposed Startup Bridge.
**Canadian Institutional Investors**
**Impact**
Organisations such as pension plans and investment boards receive high-level assurance of India’s economic stability and growth potential.
**Action Required**
Evaluate and expand long-term institutional investment portfolios in Indian infrastructure, renewables, and financial services.
**Government and Policy Makers**
**Impact**
Both nations are now committed to a specific trade roadmap and a high-priority timeline for the CEPA.
**Action Required**
Maintain momentum in diplomatic and commercial negotiations to finalize trade agreements and implement the "Startup Bridge" initiative.
Key Entities Referenced
India-Canada Comprehensive Economic Partnership Agreement (CEPA): A bilateral trade agreement under negotiation aimed at expanding trade between India and Canada to USD 50 billion by 2030.
Shri Piyush Goyal: The Union Minister of Commerce and Industry who led the largest-ever Indian business delegation to Canada to advance economic ties.
Ministry of Commerce & Industry: The primary Indian government department overseeing the bilateral trade negotiations and the ministerial visit to Canada.
Business Council of Canada: A key Canadian organization involved in strengthening industry-led partnerships and business-to-business ties through the India-Canada CEO Forum.
Ontario: The Canadian province central to the visit's engagements, including high-level meetings with its Premier and innovation centers.
Ministry of Commerce & Industry
Union Minister Of Commerce And Industry Shri
Piyush Goyal Concludes Landmark Canada Visit
Visit Highlights Indo-Canadian Community’s Role In
Strengthening Bilateral Economic Ties And Advancing CEPA
Talks
Shri Goyal Addresses Munk School At University Of Toronto,
Highlights India’s Economic Transformation And Expanding
India-Canada Partnerships
Shri Goyal Engages With Ontario Centre Of Innovation And
Canada-India Tech Connect, Highlights Opportunities In AI,
Quantum Computing And Deep Tech Collaboration
Shri Goyal Interacts With Regional Chambers To Strengthen
India-Canada Business Collaboration And Investment
Partnerships
Shri Piyush Goyal Engages Global Investors And Indian
Industry Leaders To Expand Investment Partnerships And
Strengthen India’s Global Economic Footprint
Posted On: 28 MAY 2026 9:56AM by PIB Delhi
Union Minister of Commerce and Industry Shri Piyush Goyal concluded a highly productive and
landmark three-day visit to Canada on May 28, 2026, with a packed schedule of high-impact engagements
in Toronto spanning academia, innovation, government, business councils, institutional investors, and the
Indian diaspora community. The engagements reinforced the sustained momentum in the India-Canada
economic partnership and highlighted India’s emergence as a premier global destination for investment,
technology collaboration, and long-term partnerships.
The day commenced with Union Minister of Commerce and Industry Shri Piyush Goyal delivering an
address to faculty, researchers, and students at the prestigious Munk School of Global Affairs and Public
Policy, University of Toronto — one of the world’s leading institutions for the study of international
relations and public policy. Shri Goyal spoke about India’s rapid economic progress, transformativereforms, and growing global leadership under Prime Minister Shri Narendra Modi. He highlighted the
immense potential for deeper engagement among academia, industry, and policymakers to further
strengthen bilateral trade, investment, and people-to-people ties between India and Canada.
Shri Piyush Goyal subsequently visited the Ontario Centre of Innovation (OCI) and was briefed on its
wide-ranging initiatives to promote innovation, support startups, and foster collaboration between
industry, academia, and government. He also engaged in productive discussions with Canada-India Tech
Connect on emerging areas of technology, including Artificial Intelligence and Quantum Computing.
Addressing the gathering, Shri Goyal highlighted India’s thriving startup and innovation ecosystem and
outlined how Canada can partner meaningfully in these high-growth sectors. He also underlined the vast
potential for bilateral cooperation in AI, cleantech, agritech, and deep tech — sectors where both countries
possess complementary strengths.
Shri Piyush Goyal held an engaging interaction with representatives of regional chambers operating in the
India-Canada corridor and received constructive feedback on avenues to strengthen business collaboration
and boost investment flows. He appreciated their pivotal role in enhancing trade, investment, and people-
to-people ties between the two countries, and highlighted the significant opportunities emerging from the
renewed momentum in bilateral relations and the ongoing CEPA negotiations.
In a significant high-level engagement, Shri Piyush Goyal called on the Hon’ble Doug Ford, Premier of
Ontario, and discussed opportunities to deepen India–Ontario collaboration. The two leaders explored
avenues for cooperation across manufacturing, technology, infrastructure, clean energy, food processing,
and critical minerals — sectors of strategic importance to both sides — while reaffirming their
commitment to strengthening bilateral trade and investment partnerships.
Shri Piyush Goyal held a productive meeting with Mr. Goldy Hyder, President and CEO of the Business
Council of Canada. Discussions focused on strengthening India-Canada commercial engagement and
boosting industry-led partnerships across technology, infrastructure, clean energy, critical minerals, and
advanced manufacturing sectors. Both sides also exchanged views on the important role of the India-
Canada CEO Forum in deepening business-to-business ties between the two nations.
Shri Piyush Goyal met Ms. Jo Taylor, President and CEO of Ontario Teachers’ Pension Plan, and
discussed investment opportunities in India across infrastructure, renewables, financial services,
healthcare, technology, and the digital economy. The Minister highlighted India’s strong growth potential
and the significant opportunities for partnerships with Indian enterprises, including in the manufacturing
sector, while supporting sustainable and inclusive growth.
Shri Piyush Goyal also met Mr. John Graham, President and CEO of CPP Investments, and held
discussions on expanding long-term institutional investments into India across infrastructure, logistics,
renewable energy, transportation, financial services, and digital infrastructure. He welcomed CPP
Investments’ sustained confidence in India’s growth story, reflected in its significant investments across
infrastructure, real estate, and financial services — demonstrating strong global trust in India’s economic
fundamentals and future potential.
Shri Piyush Goyal held productive discussions with the Indian business delegation accompanying him on
the visit to further strengthen India’s global economic footprint. He encouraged businesses to actively
explore partnerships and investment opportunities across sectors such as clean energy, aerospace, food
processing, critical minerals, infrastructure, and technology, which hold immense potential for sustainable
growth and innovation. Shri Goyal emphasised that India’s growing global economic stature is opening
new avenues for Indian industry worldwide and reaffirmed that the Government of India remains firmly
committed to supporting enterprises in taking India’s growth story to the world.Shri Piyush Goyal concluded his three-day visit to Canada with an engaging interaction with members of
the Canada-India Foundation. He highlighted the invaluable contribution of the Indo-Canadian community
in bringing the two nations closer through stronger business engagement and people-to-people ties.
Shri Piyush Goyal led the largest-ever Indian business delegation to Canada, comprising industry leaders
from over 100 Indian companies, in a landmark step towards the full revival of India-Canada economic
relations. The three-day visit — covering Ottawa on May 25 and Toronto from May 26–28 — aimed at
advancing bilateral trade and economic ties between India and Canada, with a particular focus on
accelerating the ongoing negotiations for the India-Canada Comprehensive Economic Partnership
Agreement (CEPA).
With bilateral trade currently standing at approximately USD 8.5 billion, both governments remain
committed to their shared and ambitious target of expanding it to USD 50 billion by 2030.
Wrapped up a highly productive visit to Canada with an engaging interaction with
members of the Canada-India Foundation.
Highlighted the important contribution of the Indo-Canadian community in
bringing our two nations closer through stronger business engagement and… pi
c.twitter.com/NO0y7MZ7RZ
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Held productive discussions with the Indian business delegation accompanying
me on the visit to further strengthen India’s global economic footprint.
Encouraged businesses to actively explore partnerships and investment
opportunities across sectors such as clean energy,… pic.twitter.com/S14RU2uQ6
5
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Visited the Ontario Centre of Innovation @OCInnovation and was briefed on its
initiatives to promote innovation, support startups, and enable collaboration
between industry, academia, and government. Had a productive discussion with
the Canada-India Tech Connect on emerging areas… pic.twitter.com/OFAFY6Elc
A
— Piyush Goyal (@PiyushGoyal) May 28, 2026
India and Canada together can provide next-generation innovation to the world
🇮🇳🇨🇦 pic.twitter.com/bIh6fY0fPA
— Piyush Goyal (@PiyushGoyal) May 28, 2026Time is ripe to initiate a Startup Bridge between India and Canada 🇮🇳🇨🇦 pic.twitt
er.com/il7rudzXDj
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Met Mr. John Graham, President & CEO of @CPPInvestments, and discussed
expanding long-term institutional investments into India across infrastructure,
logistics, renewable energy, transportation, financial services and digital
infrastructure.
Welcomed the organisation’s… pic.twitter.com/JGhc8pM28x
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Met Jo Taylor, President & CEO of Ontario Teachers' Pension Plan.
We discussed investment opportunities in India across infrastructure, renewables,
financial services, healthcare, technology and the digital economy.
Highlighted India's strong growth potential and the… pic.twitter.com/QpVktjJQcS
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Held a meeting with Mr. @GoldyHyder, President & CEO of the Business Council
of Canada.
Discussed strengthening India-Canada commercial engagement and boosting
industry-led partnerships across technology, infrastructure, clean energy, critical
minerals & advanced manufacturing… pic.twitter.com/AQVYPDZBBi
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Called on Hon'ble Doug Ford, Premier of Ontario, and discussed opportunities to
deepen India-Ontario collaboration.
We also explored cooperation across manufacturing, technology, infrastructure,
clean energy, food processing, and critical minerals, while strengthening
bilateral… pic.twitter.com/pShySo1EY8
— Piyush Goyal (@PiyushGoyal) May 28, 2026Held an engaging interaction with representatives of regional chambers in the
India-Canada corridor.
Heard their constructive feedback on avenues to strengthen business
collaboration and boost investment flows to further deepen economic
engagement between the two countries.… pic.twitter.com/BUuYS6pSj0
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Building on our cultural connect to unlock greater business opportunities &
deepen economic cooperation. 🇮🇳🤝🇨🇦 pic.twitter.com/uu8AKr4aWE
— Piyush Goyal (@PiyushGoyal) May 28, 2026
Delighted to address faculty, researchers, and students at the prestigious @Munk
School of Global Affairs and Public Policy, University of Toronto, on the
expanding horizons of the India-Canada economic relationship and the shared
opportunities that lie ahead.
Spoke about India’s… pic.twitter.com/6JRunbSpeq
— Piyush Goyal (@PiyushGoyal) May 28, 2026
***
Abhishek Dayal/ Garima Singh/ Ishita Biswas
(Release ID: 2266120) Visitor Counter : 1552
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