Finance
Union Minister of Commerce and Industry Shri Piyush Goyal concluded a highly productive and landmark three-day visit to Canada on May 28, 2026, with a packed schedule of high-impact engagements in Toronto spanning academia, innovation, government, business councils, institutional investors, and the Indian diaspora community. The engagements reinforced the sustained momentum in the India-Canada economic partnership and highlighted India’s emergence as a premier global destination for investment, technology collaboration, and long-term partnerships.
The day commenced with Union Minister of Commerce and Industry Shri Piyush Goyal delivering an address to faculty, researchers, and students at the prestigious Munk School of Global Affairs and Public Policy, University of Toronto — one of the world’s leading institutions for the study of international relations and public policy. Shri Goyal spoke about India’s rapid economic progress, transformative reforms, and growing global leadership under Prime Minister Shri Narendra Modi. He highlighted the immense potential for deeper engagement among academia, industry, and policymakers to further strengthen bilateral trade, investment, and people-to-people ties between India and Canada.
Shri Piyush Goyal subsequently visited the Ontario Centre of Innovation (OCI) and was briefed on its wide-ranging initiatives to promote innovation, support startups, and foster collaboration between industry, academia, and government. He also engaged in productive discussions with Canada-India Tech Connect on emerging areas of technology, including Artificial Intelligence and Quantum Computing. Addressing the gathering, Shri Goyal highlighted India’s thriving startup and innovation ecosystem and outlined how Canada can partner meaningfully in these high-growth sectors. He also underlined the vast potential for bilateral cooperation in AI, cleantech, agritech, and deep tech — sectors where both countries possess complementary strengths.
Shri Piyush Goyal held an engaging interaction with representatives of regional chambers operating in the India-Canada corridor and received constructive feedback on avenues to strengthen business collaboration and boost investment flows. He appreciated their pivotal role in enhancing trade, investment, and people-to-people ties between the two countries, and highlighted the significant opportunities emerging from the renewed momentum in bilateral relations and the ongoing CEPA negotiations.
In a significant high-level engagement, Shri Piyush Goyal called on the Hon’ble Doug Ford, Premier of Ontario, and discussed opportunities to deepen India–Ontario collaboration. The two leaders explored avenues for cooperation across manufacturing, technology, infrastructure, clean energy, food processing, and critical minerals — sectors of strategic importance to both sides — while reaffirming their commitment to strengthening bilateral trade and investment partnerships.
Shri Piyush Goyal held a productive meeting with Mr. Goldy Hyder, President and CEO of the Business Council of Canada. Discussions focused on strengthening India-Canada commercial engagement and boosting industry-led partnerships across technology, infrastructure, clean energy, critical minerals, and advanced manufacturing sectors. Both sides also exchanged views on the important role of the India-Canada CEO Forum in deepening business-to-business ties between the two nations.
Shri Piyush Goyal met Ms. Jo Taylor, President and CEO of Ontario Teachers’ Pension Plan, and discussed investment opportunities in India across infrastructure, renewables, financial services, healthcare, technology, and the digital economy. The Minister highlighted India’s strong growth potential and the significant opportunities for partnerships with Indian enterprises, including in the manufacturing sector, while supporting sustainable and inclusive growth.
Shri Piyush Goyal also met Mr. John Graham, President and CEO of CPP Investments, and held discussions on expanding long-term institutional investments into India across infrastructure, logistics, renewable energy, transportation, financial services, and digital infrastructure. He welcomed CPP Investments’ sustained confidence in India’s growth story, reflected in its significant investments across infrastructure, real estate, and financial services — demonstrating strong global trust in India’s economic fundamentals and future potential.
Shri Piyush Goyal held productive discussions with the Indian business delegation accompanying him on the visit to further strengthen India’s global economic footprint. He encouraged businesses to actively explore partnerships and investment opportunities across sectors such as clean energy, aerospace, food processing, critical minerals, infrastructure, and technology, which hold immense potential for sustainable growth and innovation. Shri Goyal emphasised that India’s growing global economic stature is opening new avenues for Indian industry worldwide and reaffirmed that the Government of India remains firmly committed to supporting enterprises in taking India’s growth story to the world.
Shri Piyush Goyal concluded his three-day visit to Canada with an engaging interaction with members of the Canada-India Foundation. He highlighted the invaluable contribution of the Indo-Canadian community in bringing the two nations closer through stronger business engagement and people-to-people ties.
Shri Piyush Goyal led the largest-ever Indian business delegation to Canada, comprising industry leaders from over 100 Indian companies, in a landmark step towards the full revival of India-Canada economic relations. The three-day visit — covering Ottawa on May 25 and Toronto from May 26–28 — aimed at advancing bilateral trade and economic ties between India and Canada, with a particular focus on accelerating the ongoing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
With bilateral trade currently standing at approximately USD 8.5 billion, both governments remain committed to their shared and ambitious target of expanding it to USD 50 billion by 2030.
Source: PIB
