New Delhi, March 2 -- India and Canada on Monday formally relaunched negotiations for a comprehensive economic partnership agreement (CEPA), targeting $50 billion in bilateral trade by 2030.

As Canada Prime Minister Mark Carney concluded his first official visit to India, the two sides finalised the terms of reference for the proposed pact. Both countries agreed to conclude negotiations by the end of 2026, according to a joint leaders' statement issued after talks between Prime Minister Narendra Modi and Carney.

The CEPA relaunch was positioned as the central pillar of a broader strategic partnership framework during the visit. The agreement is expected to cover trade in goods and services, along with other policy areas to be mutually a...