The India-New Zealand free trade deal has provided Canada with a template to emulate as Ottawa seeks to complete the Comprehensive Economic Partnership Agreement with New Delhi.
The Asia-Pacific Foundation of Canada said the FTA is "good reading material" for Ottawa, which aims to conclude the Canada-India CEPA by the end of 2026.
The Foundation pointed out that New Zealand and India entered into negotiations towards an FTA in 2010, but it was relaunched last year and finalised in just nine months.
Ritesh Malik, chair of the Canada-India Foundation, said the NZ deal is "a win for both sides and a potential model for Canada in forging its own trade deal with India."
However, Malik was not convinced that CEPA can be accomplished this year, describing the deadline as "aspirational."
Agriculture and labour mobility could be the trickier issues to navigate during the talks.
APF Canada's vice-president for research and strategy Vina Nadjibulla said that when both sides are willing to make something happen, it's possible.
The deal showed that India is serious about diversifying trade agreements, and the framework provided Canada with an opportunity to look at what was decided.
With Commerce and Industry Minister Piyush Goyal expected to visit Canada later this month with a large business delegation, strong political involvement is expected to drive the CEPA negotiation process along.
A series of high-level engagements are expected through this year, including meetings between the PMs.
The two PMs aim to boost bilateral trade to CA$ 70 billion by 2030, but the current trade was worth about CA$ 31 billion in 2024.
