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India, Canada on track to reach $50 billion trade target by 2030: FM

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India, Canada on track to reach $50 billion trade target by 2030: FM

Home / Economy / News / India, Canada on track to reach $50 billion trade target by 2030: FM

India, Canada on track to reach $50 billion trade target by 2030: FM

The two countries are discussing a free trade agreement aimed at boosting bilateral trade, while also exploring a financial investment protection agreement

Minister of Finance and Corporate Affairs Nirmala Sitharaman speaks during a press conference with Minister of Finance and National Revenue Francois-Philippe Champagne, not pictured, in Toronto on Thursday, Aug. 27, 2026.

Krity Ambey 2 min read Last Updated : Aug 28 2026 | 12:34 AM IST

India and Canada are on track to more than double bilateral trade to $50 billion by 2030, Finance Minister Nirmala Sitharaman said in Toronto on Thursday. The minister will conclude her more than week-long visit to Canada and the US on Wednesday.

“Every country is now looking for predictability and trust. So you need countries to come together, be able to be sure that trade will continue smoothly. And we have identified market access in several areas,” Sitharaman said at a fireside chat with her Canadian counterpart, Francois-Philippe Champagne.

The two countries are also discussing a free trade agreement (FTA) with an aim to conclude it by the end of 2026 and increase bilateral trade, which stood at $7.96 billion in 2025-26 (FY26), to $50 billion by 2030. India and Canada set this ambitious target for bilateral trade last year during Prime Minister Narendra Modi’s visit.

Both economies see the proposed trade deal as a beacon of stability in an otherwise uncertain world.


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