Piyush Goyal to Lead India’s Largest Ever Trade Delegation to Canada

Indian Commerce and Industry Minister Piyush Goyal will lead a delegation of more than 150 industry leaders to Canada from May 25 to May 27, 2026. This represents the largest Indian trade and investment delegation to ever visit the country.

The visit is centered on trade talks scheduled to begin on May 25, with a primary objective of accelerating progress toward a proposed free trade agreement. Negotiations for this comprehensive agreement resumed several months ago.

Bilateral Trade Targets and Sectoral Interests

Minister Goyal stated that the goal of the mission is to increase bilateral trade between India and Canada to $50 billion over the next five years. This target follows a period where trade was valued at under $9 billion in 2024-25.

The trade discussions include specific proposals for reciprocal market access. India is seeking easier access for its leather and textile exports. In exchange, the Indian government is looking to tap into Canada’s resources regarding critical minerals and uranium.

The strategic alignment of the two nations is based on complementary economic strengths. Canada maintains strong capabilities in mining, critical minerals, oil and gas. India, conversely, offers a talented workforce and specialized strengths across various other sectors.

Investment and the Maple 8

A significant portion of the visit will focus on securing long-term investments. Minister Goyal is scheduled to meet with representatives of the “Maple 8,” which refers to Canada’s eight largest public pension funds.

These eight funds collectively manage assets valued at approximately $2.4 trillion Canadian dollars and are recognized as some of the most influential long-term investors globally.

Several of these funds have already established investments in India. Among them are the Ontario Municipal Employees Retirement System, the Ontario Teachers’ Pension Plan, and the Canada Pension Plan Investment Board.

Corporate Expansion and Diplomatic Context

The delegation will hold a series of meetings with business leaders and government officials in Toronto and Ottawa. A key metric for the success of these diplomatic efforts is the number of Canadian firms operating within India.

Currently, approximately 600 Canadian companies are operating in India. Minister Goyal stated that the Indian government is looking to increase that number to 1,000.

The presence of a large Indian diaspora in Canada is expected to serve as a key element in the pursuit of the comprehensive trade agreement and the attraction of further investment.