Daily News - Thursday, 19 February 2026
India, Canada to finalize CEPA Terms of Reference during PM Mark Carney’s visit in March 2026 (Financial Express)
India and Canada are set to finalize the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) during Canadian Prime Minister Mark Carney’s visit to India in March 2026. The ToR will define the framework, scope, and procedures for negotiations, marking the third attempt at CEPA after failed rounds in 2010 and 2022-2023 due to political differences. The reset began after Carney’s election in March 2025, followed by his meeting with Prime Minister Narendra Modi at the G‑20 Summit in Johannesburg (November 2025), where both leaders agreed to pursue a high‑ambition CEPA. The agreement will cover goods, services, investment, agriculture, digital trade, mobility, and sustainable development, with a target to double bilateral trade to USD $50 billion (INR 4.15 lakh crore) by 2030. Current trade stood at USD $23.66 billion (INR 1.96 lakh crore) in 2024, including USD $8.98 billion (INR 74,500 crore) in merchandise trade, while FDI from Canada is USD $4.2 billion (INR 34,700 crore) and portfolio investments exceed USD $75 billion (INR 6.2 lakh crore). India’s exports to Canada include pharmaceuticals, electronics, jewelry, seafood, engineering goods, and auto parts, while imports consist of minerals, pulses, potash, paper, wood pulp, iron and aluminum scrap, and gemstones.
India and France sign 20+ agreements, elevate Special Global Strategic Partnership (Business Today)
Prime Minister Narendra Modi and French President Emmanuel Macron announced over 20 new agreements to deepen the India–France Special Global Strategic Partnership. Key defence outcomes included India’s plan to procure 114 Rafale fighter jets under a government‑to‑government framework and the inauguration of the Airbus–Tata Advanced Systems H125 helicopter final assembly line in Karnataka, with production aimed at global exports. The leaders also launched the India–France Year of Innovation 2026, linking startups, MSMEs, academia, and industry across sectors such as defence, clean energy, space, and emerging technologies. New institutions were unveiled: the Indo‑French Centre for AI in Health, the Indo‑French Centre for Digital Science and Technology, and a National Centre of Excellence for Skilling in Aeronautics, supported by the Ministry of Skill Development and Entrepreneurship. Cultural cooperation expanded with India opening a Swami Vivekananda Cultural Centre in France and collaboration on the National Maritime Heritage Complex at Lothal. Both countries reaffirmed commitments to Indo‑Pacific security, multilateralism, and global initiatives like the International Solar Alliance and the India–Middle East–Europe Economic Corridor (IMEC).
Government of India to raise USD $9.6 Billion via stake sales in 7 rail PSUs by FY30 (Business Standard)
The Government of India plans to raise about ₹80,000 crore (USD $9.6 billion) by FY30 through stake sales in seven listed railway PSUs under the Ministry of Railways. The targeted companies include IRFC, IRCTC, CONCOR, RVNL, Ircon International, RailTel, and RITES, where the Centre currently holds majority stakes. The proposal is part of the NITI Aayog’s asset monetisation programme, with the Core Group of Secretaries on Asset Monetisation (CGAM), chaired by Cabinet Secretary T.V. Somanathan, overseeing the plan. Officials indicated that the government may use multiple rounds of Offer for Sale (OFS) to gradually reduce holdings, in some cases down to the 51% threshold, to unlock capital. Proceeds will be directed toward infrastructure development and debt reduction, aligning with the Railways’ modernization goals. The plan is expected to unfold over FY27-FY30, contributing significantly to the Centre’s broader disinvestment and fiscal consolidation strategy.
India to diversify crude oil and coking coal imports says Indian Commerce and Industry Minister Piyush Goyal (Economic Times)
Commerce and Industry Minister Piyush Goyal stated that India aims to diversify its crude oil and coking coal imports, with a strong interest in sourcing high‑quality coking coal from the United States. He highlighted that India has committed to purchase USD $500 billion (INR 41.5 lakh crore) worth of goods from the US over the next five years under an interim trade agreement, which is expected to be signed in March 2026. The deal will also cover critical technology imports, including Graphics Processing Units (GPUs) for AI, data center equipment, and high‑performance computing systems, overseen by the Ministry of Commerce and Industry. Goyal noted that India has USD $100 billion (INR 8.3 lakh crore) in aircraft demand from the US in the next five years, aimed at expanding local capacity and reducing fares. He emphasized that India is currently dependent on just 2–3 geographies for coking coal, leading to price volatility, and diversification will stabilize supply chains. The minister also pointed out that in the past four years, India has finalized nine free trade agreements, negotiated from a position of strength, reflecting a shift in India’s global trade strategy.
