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India’s trade talks with the US are in an advanced stage, Commerce Minister Piyush Goyal said, as New Delhi signaled fresh momentum towards a possible free trade deal with Canada.
Commerce Minister Piyush Goyal on Monday, December 22, said India’s trade talks with the US are at an “advanced stage”, adding that New Delhi is also considering launching a free trade agreement (FTA) with Canada.
The minister was speaking at a press conference after India and New Zealand announced the conclusion of the FTA. He emphasized that the many trade agreements signed this fiscal year reflect “India’s growing strategic importance” in global geopolitics.
India has now signed trade deals with three of the five countries of the Five Eyes (FVEY) alliance—New Zealand, Australia and the UK.
Read also, India, New Zealand conclude FTA talks; Third trade agreement in this financial year
india-canada relations
2025 has seen a significant thaw in relations between India and Canada after years of diplomatic tension.
In October, Canadian Foreign Minister Anita Anand visited India with a delegation after both countries appointed new High Commissioners, signaling a revival in bilateral ties.
Economic and trade dialogues were revived, paving the way for discussions on possible modalities for an FTA. Beyond commerce, both sides have also committed to cooperation in clean energy, critical minerals, science and technology and people-to-people exchanges – reflecting a broader effort to strengthen strategic and practical ties.
Recently, in November, Goyal and Canada’s Trade Minister discussed lessons from global uncertainty and welcomed the continued expansion of two-way investment flows. This includes significant Canadian institutional investment in India and the growing presence of Indian firms in Canada, which supports thousands of jobs in both economies according to the Canadian government.