Canadian Prime Minister Mark Carney said Tuesday that his government is negotiating a free trade deal with India, calling the effort a potential game changer that would open significant new opportunities for Canadian businesses and workers.
In a post on X, Carney described recent discussions with Indian officials and highlighted prospects in several key sectors. He noted that the talks with Indian Minister of Commerce Piyush Goyal focused on growth areas including energy, agri-food, technology, and education.
"We're negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market," Carney wrote.
The comments come as both countries explore ways to expand commercial ties amid shifting global trade patterns. According to the report from Benzinga, Carney's remarks followed his meeting with Goyal, during which the two sides examined specific opportunities for collaboration.
Carney also addressed developments related to the Strait of Hormuz, noting that progress has been made in easing tensions there. The waterway accounts for nearly half of India’s crude oil imports, making stability in the region a factor in broader energy trade considerations.
Officials have not released a timeline for completing the free trade negotiations. The Benzinga account indicates that the discussions remain in progress, with both governments continuing to assess potential terms.
Trade between Canada and India has grown in recent years, though it remains smaller than Canada’s exchanges with some other major partners. A formal agreement could address tariffs and regulatory barriers in the sectors Carney mentioned.
Industry groups in Canada have previously expressed interest in greater access to Indian markets, particularly for agricultural products and technology services. Indian officials have similarly pointed to opportunities in energy exports and educational exchanges.
The Benzinga report did not include statements from Indian government representatives responding to Carney’s comments. No details were provided on specific tariff reductions or investment provisions under discussion.
Carney’s post included a photo credit to Harrison Ha on Shutterstock.com, though the image itself was not described in the article. The report carried the standard Benzinga disclaimer that the site does not provide investment advice.
Further updates on the negotiations are expected as talks continue. Both sides have indicated they will provide additional information once concrete progress is achieved.