Trade and investment form a central pillar of the India-Canada partnership, with both countries seeking to significantly scale up economic engagement in the coming years.
According to the Ministry of External Affairs (MEA), bilateral trade in goods stood at CAD 13.32 billion in 2024. In 2025 (January-October), goods trade reached CAD 11.09 billion, reflecting sustained momentum. India’s key exports include pharmaceuticals, electronic goods, gems and jewellery, seafood and engineering products, while major imports from Canada comprise minerals, pulses, potash, paper products and scrap metals.
Services trade is even more substantial. In 2024, bilateral services trade touched CAD 19.61 billion. Between January and September 2025, services trade amounted to CAD 14.15 billion, highlighting deep interdependence in sectors such as IT, financial services and education.
The MEA said that portfolio investments from Canada into India are estimated at over CAD 100 billion, underscoring Canada’s confidence in India as a long-term growth destination. More than 600 Canadian companies operate in India, while over 1,000 are actively exploring opportunities in the Indian market. Indian firms in Canada are active in IT, banking, natural resources and health sciences.
Energy cooperation is gaining renewed traction. During India Energy Week 2026 in Goa, Canadian Energy Minister Timothy Hodgson and India’s Petroleum and Natural Gas Minister Hardeep Singh Puri relaunched the India–Canada Ministerial Energy Dialogue. Canada’s role as a supplier of oil, gas, LNG and critical minerals complements India’s growing energy demand, creating opportunities for long-term collaboration.
According to MEA, both sides are now preparing to launch negotiations for a Comprehensive Economic Partnership Agreement, which is expected to provide a structured framework to deepen trade, diversify supply chains and enhance investment flows.
