Merchandise trade between India and Canada has experienced significant growth in the first eight months of 2026, with Indian Prime Minister Narendra Modi’s upcoming visit to Canada in December potentially further enhancing bilateral economic relations. Canada’s merchandise exports to India reached CA$3.03 billion from January to August 2026, marking a 36.7% increase compared to the same period in the previous year. This growth was largely driven by exports of metals and minerals, which constituted 41% of shipments, followed by agri-food products at 16.9%.
In the same timeframe, Canada’s imports from India totaled CA$7.05 billion, representing a 10.2% year-on-year rise. Comparatively, in 2025, Canadian exports to India amounted to CA$3.9 billion, while imports from India were CA$9.7 billion, illustrating the strengthening economic ties between the two countries.
High-level discussions and business initiatives have further fueled this momentum. A Canadian trade delegation comprising nearly 300 participants recently secured 34 commercial agreements valued at approximately CA$300 million. These agreements span sectors such as energy, critical minerals, and aerospace, highlighting the diverse areas of cooperation.
Additionally, ongoing negotiations aim to establish a Comprehensive Economic Partnership Agreement (CEPA) between India and Canada. With five rounds of negotiations completed, both nations are working towards finalizing the agreement by December, signifying a commitment to deepening economic collaboration.
Prime Ministers Narendra Modi and Mark Carney have been actively engaged in discussions to strengthen bilateral relations. Officials from both countries are focusing on expanding trade, investment, and cooperation in key areas, including mobility, further underlining the robust and dynamic nature of the India-Canada economic partnership.