Right, and you point out that “the two countries are not what one would consider ‘natural’ trading partners”. You point out that “the relatively low levels of economic integration are not the natural result of significant protectionism or policy-induced barriers to trade”. You point out that India has actually done a fair bit of liberalization through the requirements of the WTO in the 1990s.
But you've said “Barriers have already come down significantly, and Canada's trade and investment relations with India have grown, but have lagged behind India's relations with larger and closer countries”. You point out that trade negotiations—to use your words—“seem to be going nowhere, fast,” and that “One of Canada's goals is to improve Canadian market access to India, something India has no interest in”. I'd like you to comment on that.
You say India is an active user of trade and investment policies designed to achieve domestic goals. India is not prepared to move further on these issues currently, and any improvement Canada can get is hard-fought. You also say that Canada is interested in negotiating the liberalization of services and procurement, but “these are off the table as far as India is concerned”.
Given that description, it would seem to me your conclusion is that while CEPA with India might be desirable, you don't see any hugely significant gains coming out of that.