Commodities September 20, 2026 10:24 PM

Canada Says Year-End Goal for Comprehensive Trade Deal With India Is Within Reach

Ottawa highlights energy, nuclear and critical minerals as focal points as negotiators prepare for further talks

By Maya Rios
Share
Twitter Reddit Facebook LinkedIn

Canada's minister for international trade expressed strong optimism that talks on a comprehensive economic partnership agreement (CEPA) with India can be completed by the end of the year. Officials are planning further negotiation rounds and high-level meetings, with energy and critical minerals emerging as central areas of cooperation.

Canada Says Year-End Goal for Comprehensive Trade Deal With India Is Within Reach
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • Canada is optimistic it can complete a comprehensive economic partnership agreement with India by year-end, with planned negotiation rounds and potential leader-level meetings.
  • Energy is a central focus: a Shell-led Canadian LNG export facility launched last year and five more projects are in development; India and Canada are discussing access, investment and supply security in those projects, and are also exploring cooperation in nuclear energy.
  • Major Indian conglomerates including Reliance Industries, Mahindra and Mahindra and the JSW Group are reported to be exploring investments in Canadian critical minerals projects to secure supply chains, with interest in co-investment structures.

Canada is aiming to finalize negotiations on a comprehensive economic partnership agreement (CEPA) with India by the end of the year, the country's trade minister said during a visit to Mumbai.

Responding to questions on the pace of talks, the minister for international trade said he was upbeat about the timetable. "Im feeling very, very optimistic and energetic that we can get it done in the coming months," he told Reuters in an interview while in Indias financial capital.

Ottawa and New Delhi have maintained a schedule of engagement that could keep momentum through the autumn. Indian trade negotiators are expected to travel to Canada next month, and leaders from both countries are likely to meet on the sidelines of the G-20 gathering in December, the minister said.


Energy sector central to discussions

The minister identified the energy sector as a major strand of the negotiations. He noted that a Shell-led liquefied natural gas (LNG) export facility in Canada started operations last year and that Canada has five additional LNG projects progressing through various stages of development.

On how India might engage with those projects, the minister said: "Were having conversations with Indian firms on how they can access those projects, but also how they can invest and secure supply in those projects," but he declined to provide further specifics.

Beyond LNG, both countries are exploring expanded cooperation in nuclear energy. With India seeking to significantly increase its nuclear capacity, the minister highlighted Canada's established role in the nuclear industry and the potential for Canadian companies to support development of a supply chain in India. "Canada has a long history in the nuclear industry, and I do see a lot of benefit for Canadian companies and industries to help build up a supply chain here in India," he said.


Critical minerals and supply-chain security

The minister also said several large Indian corporate groups are examining investments in Canadian critical minerals projects as a means of securing supply chains, naming Reliance Industries, Mahindra and Mahindra and the JSW Group among those looking at opportunities. He added that firms are considering co-investment models as supply chains become increasingly politicised and strategically sensitive.

He did not supply additional detail on particular projects or the scale and timing of potential investments.


Next steps and remaining questions

With planned negotiation visits and the prospect of leaders meeting in December, Ottawa is signalling intent to press ahead with talks. However, the ministers comments also reflect limited public detail on the mechanics of investment, terms of market access in energy projects, and specific arrangements for critical mineral co-investments.

Those unresolved elements - and how they are addressed in forthcoming negotiation rounds - will shape the practical outcomes of any CEPA concluded by year-end.

Risks

  • Timeline uncertainty - while officials are optimistic about concluding a CEPA by year-end, the outcome depends on forthcoming negotiation rounds and meetings, leaving the final timing unclear - impacts diplomatic, trade and investment planning.
  • Lack of detail on investment and access arrangements - the minister declined to provide specifics on how Indian firms would invest in or secure supply from Canadian energy projects, which creates uncertainty for energy and midstream stakeholders.
  • Supply-chain politicisation - comments that companies are seeking co-investments "as supply chains are getting weaponised" point to geopolitical and strategic risks that could affect critical minerals and energy markets.

More from Commodities

UBS Raises Near-Term Palladium Forecasts on Signs of a Tighter Physical Market Sep 21, 2026 Natural Gas coils near $2.878 as moving averages compress; breakout risk rises Sep 21, 2026 Petrobras Board Signs Up for 30-Day Government Diesel Subsidy Sep 20, 2026 Oil Retreats as Diplomatic Signals Temper Geopolitical Premium, Houthi Strikes Keep Markets Nervous Sep 20, 2026 Europe Faces Jet Fuel Shortfall in Q4 as South Korea Emerges as Major Supplier Sep 20, 2026