Finance Minister Nirmala Sitharaman announced in Toronto that India and Canada are aiming to finalize a landmark investment protection agreement by the end of 2026. Speaking at a reception hosted by the Consulate General of India during the first leg of her three-day visit, Sitharaman emphasized New Delhi’s updated, open-minded approach to safeguarding foreign investments. She noted that completing the deal on schedule would depend on coordination with her Canadian counterpart, Finance Minister François-Philippe Champagne, as both leaders prepare to co-host the inaugural Economic and Financial Dialogue.
The timeline for the investment pact is intended to coincide with the broader Comprehensive Economic Partnership Agreement (CEPA), which Indian Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney have slated for completion by year-end. With Modi tentatively scheduled to visit Canada in December for the final signing, both governments are working to cement a comprehensive economic reset following a recent transformation in bilateral relations under Carney’s administration.
Highlighting shared democratic principles, parliamentary traditions, and common economic interests, Sitharaman positioned India and Canada as natural long-term partners. She pointed out that amid global economic shifts and heightened trade uncertainty—underscored by Canada’s recently announced retaliatory tariffs—both nations have a strategic opening to build a more resilient, diversified financial partnership to attract global capital.
