Merchandise trade between India and Canada has seen significant growth in the first eight months of 2026, underscoring the strengthening economic ties between the two nations. This uptick comes as Indian Prime Minister Narendra Modi gears up for a visit to Canada scheduled for December. The trade figures reveal a robust increase in both exports and imports, with Canada’s shipments to India reaching CA$3.03 billion, marking a 36.7% rise compared to the same period last year.
The surge in Canadian exports to India has been primarily driven by metals and minerals, which constitute 41% of the total shipments, followed by agri-food products at 16.9%. Meanwhile, India’s exports to Canada totaled CA$7.05 billion, reflecting a 10.2% year-on-year increase. In comparison, the entire year of 2025 saw Canadian exports to India at CA$3.9 billion and imports from India at CA$9.7 billion.
High-level discussions and business initiatives have further boosted bilateral engagement. A significant Canadian trade delegation, comprising nearly 300 participants, successfully secured 34 commercial agreements valued at approximately CA$300 million. These agreements span critical sectors such as energy, critical minerals, and aerospace, highlighting the diverse areas of collaboration between the two countries.
In addition to these developments, India and Canada are actively working towards a Comprehensive Economic Partnership Agreement (CEPA). With five rounds of negotiations already completed, more discussions are planned with the aim of finalizing the agreement by December. This ambitious agreement is expected to enhance trade, investment, and cooperation in various fields.
Both Modi and Canadian Prime Minister Mark Carney have engaged in discussions aimed at strengthening bilateral relations. Officials from both countries are focused on expanding trade, investment, and cooperation in areas including mobility, reflecting a mutual commitment to deepening economic ties.