Piyush Goyal Projects Over 7.5% Growth, Eyes India-Canada Trade Deal

Union Commerce and Industry Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu attended a trade reception in Mumbai as part of the Team Canada Trade Mission to India, highlighting opportunities to strengthen bilateral trade and economic cooperation.

Mumbai and all of India welcome Canadian businesses, investors, innovators... Let us build partnerships that benefit both nations 🇮🇳🇨🇦 https://t.co/B6bAqmcthW

— Piyush Goyal (@PiyushGoyal) October 15, 2026

Addressing the gathering, Piyush Goyal emphasised that business partnerships and relationships would play a crucial role in accelerating negotiations and achieving meaningful outcomes for both countries. He expressed confidence in the early conclusion of a comprehensive economic partnership agreement between India and Canada in the coming months.

“Our negotiators are, of course, talking, but ultimately, no amount of negotiation can lead to results or outcomes without the partnerships and relationships that you forge,” Goyal said, urging businesses to help advance the negotiations faster and more effectively.

The Union Minister also expressed optimism about India's economic growth prospects. Referring to India's reported growth of around 7.7% in the previous year, he said the country could achieve growth of more than 7.5% in the coming year.

Goyal highlighted India's long-term economic ambitions, pointing to the aspirations of its young population as a major driver of growth over the next two to three decades. He said India could progress from a $4 trillion economy towards a $30 trillion economy by 2047, marking 100 years of the country's independence.

The trade reception underscored the importance of stronger business-to-business engagement in advancing India-Canada economic relations, with a comprehensive economic partnership expected to create new opportunities in trade, investment and cooperation between the two countries.