With reference to the Comprehensive Economic Partnership Agreement (CEPA) between India and Canada, consider the following statements: 1. The fifth round of CEPA negotiations is scheduled to take place in Mumbai. 2. The two nations aim to scale their bilateral trade volume to USD 70 billion by 2031. 3. Key focus areas of the negotiations include energy, critical minerals, and supply chain diversification. Which of the statements given above is/are correct?

Maninder Sidhu and Piyush Goyal aim to scale Canada and India bilateral trade

GS2Polity · Governance · IR· India's bilateral relations· Prelims + Mains· 2 October 2026

Trade liberalization and supply chain diversification: a key GS2 International Relations topic.

Why in news

India and Canada aim to scale bilateral trade from USD 30 billion to USD 70 billion by 2031, initiating the fifth round of Comprehensive Economic Partnership Agreement (CEPA) negotiations in Ottawa.

Background

The negotiations focus on energy, critical minerals, and supply chain diversification. The two nations aim to conclude the CEPA talks by the end of 2026 following a Round 4 meeting in Mumbai.

Facts for Prelims

FactTarget bilateral trade volume between India and Canada: USD 70 billion by 2031
FactCurrent bilateral trade volume between India and Canada: USD 30 billion
PlaceRound 5 of CEPA negotiations: scheduled to begin October 5 in Ottawa
S&TKey focus areas of CEPA: energy, critical minerals, and supply chain diversification

Prelims practice question

With reference to the Comprehensive Economic Partnership Agreement (CEPA) between India and Canada, consider the following statements:

The fifth round of CEPA negotiations is scheduled to take place in Mumbai.
The two nations aim to scale their bilateral trade volume to USD 70 billion by 2031.
Key focus areas of the negotiations include energy, critical minerals, and supply chain diversification.

Which of the statements given above is/are correct?

(a)1 only
(b)1 and 2 only
(c)1 and 3 only
(d)2 and 3 only

Show answer

Answer: (d) 2 and 3 only — Statements 2 and 3 are correct. Statement 1 is incorrect: The fifth round of negotiations is scheduled to begin in Ottawa.

For Mains

Q. Discuss the significance of diversifying supply chains and securing critical minerals in strengthening India's bilateral trade relations with North American partners.

Dimensions to cover in your answer

Resource security: Reducing dependence on single-source suppliers for critical minerals
Trade architecture: Transitioning from commodity-based trade to high-tech supply chain integration
Geopolitical alignment: Strengthening economic ties to counter global supply chain disruptions

Keywords: bilateral trade · supply chain diversification · critical minerals · trade liberalization

Read the full news →Source: NDTV ↗Also: GS3 · External sector, trade & FDI

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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.