India–Canada Joint Statement on the Conclusion of the Second Round of CEPA Negotiations

📌 Summary:

• India and Canada successfully concluded the 2nd round of CEPA (Comprehensive Economic Partnership Agreement) negotiations, held 4–8 May 2026 at Vanijya Bhawan, New Delhi

• Negotiations followed Terms of Reference signed by Trade Ministers of both countries on 2 March 2026

• Both sides reaffirmed commitment to a "balanced, ambitious, and mutually beneficial" agreement to strengthen bilateral trade and economic ties

• Chapters negotiated include: Trade in Goods, Trade in Services, Intellectual Property, Rules of Origin, Sanitary and Phytosanitary Measures (SPS), and Technical Barriers to Trade (TBT)

• Next (3rd) round scheduled for July 2026 in Ottawa, Canada; intersessional engagements to continue in the interim

• Background: PM Modi and Canadian PM Carney set a year-end 2026 target to complete CEPA during their March 2026 New Delhi summit

• India-Canada bilateral trade stands at ~$10 billion; CEPA aims to substantially expand this

🎯 UPSC Relevance: GS2 – International Relations → Bilateral agreements. Tests understanding of India's FTA strategy and CEPA mechanism (broader than FTAs). Also relevant for India's post-2023 diplomatic reset with Canada.

📝 Prelims Facts:

• CEPA = Comprehensive Economic Partnership Agreement (covers goods, services, investment, IP — broader than FTA)

• 1st round Terms of Reference signed: 2 March 2026

• 2nd round: 4–8 May 2026, Vanijya Bhawan, New Delhi, hosted by Department of Commerce, GoI

• 3rd round: July 2026, Ottawa, Canada

🔑 Key Term: CEPA (Comprehensive Economic Partnership Agreement) — A broad trade pact covering goods, services, investment, and intellectual property; more comprehensive than a traditional FTA.