New Delhi — Canadian Prime Minister Mark Carney used an address to the India-Canada CEO Forum to stress the importance of rapid follow-through on bilateral agreements, framing execution as the decisive factor in deepening economic and strategic ties between the two countries. Speaking alongside Indian Prime Minister Narendra Modi and business leaders from both nations, Carney outlined a shared ambition to more than double trade by 2030 while expanding cooperation across energy, critical minerals, financial technology, infrastructure investment, and defence-related sectors.

The forum took place against the backdrop of ongoing negotiations toward a Comprehensive Economic Partnership Agreement (CEPA), with both sides aiming to conclude and sign the accord by the end of 2026. Carney described the target date as a firm milestone but emphasised that the real value would lie in subsequent implementation—ensuring regulatory alignment, streamlined processes, and private-sector uptake. He cited recent Canadian domestic policy measures as evidence of readiness to facilitate investment, including reductions in income and capital-gains taxes, incentives for new home purchases, a business investment tax rate half the G7 average and notably below that of the United States, and a commitment to secure all necessary approvals for major projects within two years across federal and provincial levels.

Carney positioned Canada as a reliable long-term partner in energy and critical minerals, pointing to existing projects such as Chemico Tim as models of successful collaboration. He highlighted significant potential in uranium supply and nuclear generation to support clean-energy transitions, as well as broader applications in mobility and defence. On financial innovation, he referenced ongoing discussions around integrating India’s Unified Payments Interface (UPI) framework with Canadian cross-border systems, which could enhance digital-payment connectivity and efficiency.

Defence and technology cooperation featured prominently in the remarks. Carney noted Canada’s planned half-trillion-dollar investment in defence capabilities over the next decade, with opportunities for collaboration in aerospace, artificial intelligence, cyber security, and space domains. He also underscored Canada’s strategic approach to critical-minerals development in partnership with allies, an area where complementarities with India’s industrial needs were evident.

The Canadian leader sought to correct any perception of Canada as a small market, emphasising its network of free-trade agreements with 51 countries covering 1.5 billion people. He described Canada’s strong fiscal position—among the most robust balance sheets in the G7—as a foundation for prudent, long-term investment commitments.

Both leaders referenced longer-term national visions: India’s ambition to quintuple its economy by 2047 in an inclusive manner, and Canada’s aim for transformative economic progress over the coming decade. Carney suggested that neither goal could be achieved in isolation and that mutual reinforcement through deepened ties offered substantial shared benefits.

Business representatives at the forum welcomed the focus on execution, with several CEOs raising practical barriers such as visa processing times and regulatory predictability. Carney acknowledged these points directly, indicating that Canadian authorities would review visa facilitation measures with an eye toward easing movement for business and skilled professionals.

The visit reflects a concerted effort by both governments to rebuild momentum in a relationship that has experienced periods of strain in recent years but has maintained steady progress on trade and investment dossiers. Bilateral merchandise trade has grown steadily, supported by complementary strengths—Canada’s resource base and advanced technology capabilities paired with India’s large market, manufacturing capacity, and digital-innovation ecosystem.

Analysts monitoring the relationship note that successful implementation of near-term deliverables—particularly CEPA conclusion and tangible advances in critical-minerals and payments cooperation—could establish positive precedents and build confidence for more ambitious joint initiatives. Private-sector engagement is expected to play a central role, with CEOs from both countries positioned to identify and pursue bankable projects once policy frameworks provide greater certainty.

No immediate new commitments were announced during the forum, but the emphasis on follow-through and stakeholder involvement signals intent to convert diplomatic goodwill into sustained economic activity. Canadian officials accompanying Carney indicated that reciprocal business delegations and further technical discussions would follow in the coming months.

As both countries navigate global supply-chain reconfiguration, energy-transition imperatives, and technology competition, the India-Canada partnership is increasingly viewed as strategically complementary. The New Delhi exchange has reinforced that the next phase will be defined less by declarations than by measurable steps on the ground.