Union Budget 2023-24
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India-Canada bilateral ties are underpinned by shared values of democracy, pluralism, expanding economic engagement, regular high-level interactions and long-standing people-to-people ties.

Prime Minister (PM) Modi’s visit to Canada in April 2015 elevated the bilateral relation to a strategic partnership. PM Justin Trudeau paid his first State Visit to India from 18 to 24 February 2018. The visit reaffirmed the breadth and scope of Canada-India relations, based on the fundamental principle of respect for sovereignty, unity, and territorial integrity of the two countries.

    • Both sides pursue bilateral relations through the dialogue mechanisms such as Ministerial level- Strategic, Trade and Energy dialogues; Foreign Office Consultations; and other sector specific joint working groups (JWG)

    • India and Canada are discussing a Comprehensive Economic Partnership Agreement (CEPA) and a Bilateral Investment Promotion and Partnership Agreement (BIPPA/FIPA).

    • The Canadian government unveiled its Indo-Pacific Strategy in November 2022, which recognizes India as a crucial partner and aims to improve Canada’s market access by negotiating and implementing new comprehensive free trade agreements with Indo-Pacific nations, including India. 

    • Hon. Prime Minister of India’s visit to Canada in 2015 signified the start of a strategic chapter in our bilateral relations with the signing of 13 agreements including the pact on space cooperation and MoUs in railways, transportation, civil aviation, skill development, the historical deal on Uranium ore procurement and the renewed commitment to bilateral nuclear cooperation.

    • PM Justin Trudeau’s visit to India in Feb 2018 was marked by Signing of agreements and MOUs on cooperation across ICT, Energy, IPRs, Higher Education, Science & Technology. An MoU was also signed between Invest India and the Investment and Innovation Bureau, Global Affairs Canada on Investment Promotion & Facilitation.

    • India-Canada CEO Forum: Constituted to improve bilateral trade and investment flows. The Forum identified natural resources, infrastructure, education, information and communication technology and financial services as priority sectors.

    • Energy has been a prime area of focus in our bilateral ties. There have been three rounds of energy dialogues focusing on core pillars of Hydrocarbon, Coal, and Power. The scope of the dialogue was further expanded in 2018 during PM Trudeau’s visit to India, to include renewable energy, energy efficiency and electricity, reflecting the increasing mutual importance to sustainable development.

    • Canada is the 18th largest foreign investor in India with a cumulative investment of $3,184 mn from April 2000 to December 2022. Canadian investments represented 0.5% of the total FDI inflows into India.

    • Bilateral trade in goods amounted to $ 6.9 bn in FY22-23 (till January ’23) with India's exports to Canada amounting to $ 3.48 bn and India's imports from Canada amounting to $ 3.42 bn during the period.

    • Services, and Infrastructure together accounted for 40.63% of the total FDI investments from Canada to India.

    • In the 2003-2019 period, Mumbai and Bengaluru were among the top 10 destination cities for Canadian outbound investment in APAC.

      • Bengaluru - $5.4bn
      • Mumbai – $5.1bn
    • More than 600 Canadian companies have a presence in India and over 1,000 Canadian companies are actively pursuing business in the Indian market.

    • In order to strengthen the start-up ecosystem in both India and Canada, Invest India has signed a MoU with the Toronto Business Development Centre (TBDC) to foster start-up collaboration.

    • Canada is India's 31st largest market, accounting for just $3 bn or 0.88% of India's total outbound shipments in April-January 2021-22.

    • Cultural Relations form the bed-rock of the India – Canada relationship. Canada hosts one of the largest Indian diasporas in the world, numbering 1.6 Mn (PIOs and NRIs) which account for more than 3% of its total population. A majority of PIOs live in Greater Toronto, Greater Vancouver, Montreal and Calgary.

    • Diwali has been celebrated on the Parliament Hill in Canada for the last 21 years. For the first time, Canada Post and India Post joined hands to issue a commemorative stamp to mark Diwali in 2017. More than 400 persons and 8 Members of Parliament of Canada attended the 19th ‘Diwali on Hill’ event in October 2019. The celebration was held again in October 2022 after a gap of 2 years due to the Covid19 pandemic.

    • Canada was the Country of Focus at the 48th International Film Festival of India held in Goa in November 2017. India and Canada also signed an audio-visual co-production agreement in 2014 during the visit of Canadian Governor General David Johnston to bring cultural and economic benefits to Canadians and Indians while inspiring audiences worldwide.


Canada in India

Sun Life

Sun Life Financial Inc. holds 49% stake in a Life Insurance Joint Venture (Aditya Birla Sun Life Insurance, was founded in 1994) with global ...Read more

McCain Foods

McCain Foods (India) is a wholly-owned subsidiary of McCain Foods Limited in Canada. Since 1998, the company has been engaged in agriculture research ...Read more

Magna International Inc.

Magna International Inc.:It is a Canadian auto parts and mobility technology company with operations spanning 28 countries across 5 continents. The ...Read more

IBI Group

IBI Group designs high rises, industrial buildings, Schools, hospitals, and other infrastructural projects for integrated cities. IBI group has been ...Read more

CPP Investment Board

CPP Investment Board : Headquartered in Toronto, CPPIB’s Mumbai office opened in 2016 and is currently one of its 8 international offices. CPPIB is ...Read more


CDPQ: It has made several quality investments in India across financial services (Edelweiss Group and Kotak Mahindra Bank) , real estate (Piramal ...Read more


OMERS: The Ontario Municipal Employees Retirement System is an Ontario based pension fund for managing the retirement benefits of all local ...Read more

Ontario Teachers' Pension Plan

Ontario Teachers' Pension Plan: Toronto based OTPPB is one of the largest privately owned Canadian pension fund managing assets on behalf of over 3 ...Read more

British Columbia Investment Management Corporation

British Columbia Investment Management Corporation is a leading provider of investment management services for British Columbia’s public sector and ...Read more

Fairfax Financial Holdings Limited

Fairfax Financial Holdings Limited is a financial holding company based in Toronto, Ontario, which is engaged in property, casualty, insurance and ...Read more

Brookfield Asset Management Inc.

Headquartered in Toronto, Brookfield Asset Management Inc. is an alternative asset management company focusing on real estate, renewable power, ...Read more

India in Canada

TATA Consultancy Services

It has been servicing the Canadian marketplace for more than 25 years, with offices in Toronto, Montreal, Calgary and Vancouver. Since 2010, TCS has ...Read more

Aditya Birla Group

The Aditya Birla Group has significant presence in Canada. Its major companies are in pulp & fibre business, metals business, in the ITES ...Read more


Wipro Canada offers end-to-end best practice solutions that help Canadian businesses and communities. They have partnered with some of the largest ...Read more


Infosys is an IT consulting and services provider. Inaugurated the Toronto Global Development Centre in Feb 2001. Canada is an important country for ...Read more
  • Renewable Energy

    Renewable Energy

    • #1

      Largest renewable energy capacity expansion program in the world

    • 2nd

      Highest installed wind capacity in Asia

    • 3rd

      Renewable Energy Country Attractive Index in 2021

      • 5th largest in renewable energy capacity globally
      • 36+ GW installed capacity of renewable energy
      • 5th largest for installed solar capacity
      • The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is under installation in India
    Visit Sector 499Investible Projects
  • Agriculture


    • #1

      India is the largest producer of spices, pulses, milk, tea, cashew and jute

    • 2nd 

      Largest producer of Bamboo in the World

    • 2nd 

      Largest producer of of fruits and vegetables

      • India’s Agriculture Exports touch a historic high of $ 50 bn in FY 2021
      • India is the largest producer of spices, pulses, milk, tea, cashew and jute
      • India is the 2nd largest producer of Bamboo in the World
      • India is the second-largest producers of fruits and vegetables
    Visit Sector 76Investible Projects
  • Oil & Gas

    Oil & Gas

    • 2nd

      Largest refiner in Asia

    • 3rd

      Largest consumer of crude oil and petroleum products

    • 20%

      Target of achieving ethanol blending in petrol by 2025

      • India is the largest exporter of petroleum products in Asia
      • Its the 3rd largest consumer of energy and oil in the world after China and the US
      • 16,788 km of operational natural gas pipelines and 14,239 km gas pipelines are under development
    Visit Sector 1Investible Projects
  • Automobile


    • 4th

      Largest car manufacturer

    • 4th

      largest vehicle market

    • $118 bn

      Current value of Indian Automobile Industry

      • Largest two-wheeler and three-wheeler manufacturer
      • 2nd largest bus manufacturer 
      • 3rd largest heavy trucks manufacturer  
      • Employs 35 mn people both directly and indirectly
      • The India passenger car market values at $ 32.70 bn in 2021, and it is expected to reach a value of $ 54.84 bn by 2027 while registering a CAGR of over 9%.
    Visit Sector 3Investible Projects
  • Metals & Mining

    Metals & Mining

    • 255 MT

      Forecasted crude steel demand/production (2030-31)

    • 158 kg

      Per capita finished steel consumption (2030-31)

    • 300 MT

      Domestic steel production capacity by 2030

      • Second largest crude steel producer in the world
      • Second largest coal producer in the world
      • Fourth largest iron ore producer in the world
    Visit Sector 21Investible Projects
  • Food Processing

    Food Processing

    • 2nd

      largest producer of food grains, fruits, and vegetables

    • #1 

      producer of Milk

    • $535 bn

      Expected value of Indian food and retail market by 2025-26

      • Largest producer, consumer, and exporter of spices and cashew nuts
      • Largest producer of pulses
      • 353 Cold Chain projects, 63 Agro-Processing Clusters, 292 Food Processing Units, and 6 Operation Green projects have been approved
      • Pradhan Mantri Kisan SAMPADA Yojana, a government scheme, was formulated for creating a modern infrastructure with efficient supply chain management from farm gate to retail outlet
      • 41 upcoming Mega Food Parks under Mega Food Park Scheme
    Visit Sector 76Investible Projects

Recent Investments


CPPIB to buy Goldman's 14% stake in ReNew Energy Global for about $268 mn

Goldman Sachs is set to sell its remaining 14% stake in ReNew Energy Global, the Nasdaq-listed parent of ReNew Power to CPPIB for about $268 mn.


CPPIB Anchors New IndoSpace Fund with US$205 Million Investment

CPPIB announced an investment of US$205 mn as an anchor investor in IndoSpace’s new real estate fund.


CPP Investments Commits C$60 Mn in Follow-on Investment to India’s NHAI InvIT

On 12 October 2022, CPPIB announced an equity investment of INR 3,575 mn (C$60 million) in National Highways Infra Trust, an infrastructure investment trust sponsored by the National Highways Authority of India

Magna International Inc

Magna invests $77 mn in India's EV startup Yulu to enter micromobility market

Magna International Inc is investing $77 mn in India's EV startup Yulu to enter the micromobility market

Ontario Teachers’ Pension Plan Board

Ontario Teachers’ grows presence in India with establishment of Mumbai office

Ontario Teachers’ Pension Plan Board (Ontario Teachers’), a leading global investor with over C$242.5 billion / INR 14.85 lakh crore (all figures as at June 30, 2022), has established on-the-ground presence in India, opening a new office in Mumbai to build on its existing Indian portfolio


OTPP To Buy 30% Stake In India's Mahindra Renewables Assets

OTPP agreed to buy a 30% stake for 23.71 billion rupees ($297.5 million) in Indian automaker Mahindra's renewable power assets.


Ontario Teachers’ Pension Plan to acquire 30% stake in Mahindra Susten Pvt. Ltd

In Sep 2022, Mahindra Group and Ontario Teachers’ Pension Plan Board announced a strategic partnership to capitalize on the growing renewables opportunity, in which OTPP would invest INR 2,371 Cr (~$ 300 Mn) into Mahindra Susten

Magna International Inc

Magna to invest $ 120 mn to establish innovation centre in Bengaluru

Magna International Inc announced its investment of more than $ 120 Mn to establish and operate a new engineering center in Bengaluru, India, and is planning to hire approximately 1,000 engineers and technical experts by the end of 2023

Maple Highways

CDPQ-backed Maple Highways acquires Eastern Peripheral Expressway

Maple Highways, backed by CDPQ, announced completing the acquisition of the Eastern Peripheral Expressway that encircles the National Capital Region


Canada's Ontario Teachers Pension Plan Board To Acquire Majority Stake In Sahyadri Hospitals

Ontario Teachers' Pension Plan Board (OTPP), announced an agreement to acquire a significant majority stake in Sahyadri Hospitals Group, the Largest private hospital chain in the state of Maharashtra, from the Everstone Group

Canada Pension Plan to buy Brookfield’s Indian road assets

Canada Pension Plan to buy Brookfield’s Indian road assets

Canada Pension Plan Investment Board, the largest pension money manager in Canada has agreed to buy a portfolio of Indian road assets in a deal valued at around INR 9,375 ($ 1.2 Bn)

Phoenix Mills

Phoenix Mills, Canada pension fund to infuse up over ₹700 cr in subsidiary

Canada Pension Plan Investment Board (CPPIB), along with Phoenix Mills, agreed to infuse up to INR 700 cr into Island Star Mall Developers, their joint subsidiary in December 2021.Source



Brookfield buys 12.8 million square feet of office space worth $ 2 Billion from Bengaluru based RMZ corp. 



Brookfield owned Sagen MI acquires 31% in India Mortgage Guarantee Corporation (IMGC): Brookfield Asset Management owned Sagen MI has signed a definitive agreement to acquire a stake representing approximately 31% in India Mortgage Guarantee Corporation (IMGC) in April 2022


Caisse de dépôt et placement du Québec

In 2019, CDPQ invested $75 Mn in Azure Power Global, an Indian producer of solar energy. This increased CDPQ’s interest from 40.3% to 49.7%.


Canada Pension Plan Investment Board 

The India Resurgence Fund platform, a distressed assets buyout platform set up with Piramal Enterprises Limited and Bain Capital Credit as joint sponsors, has received a commitment of US$225M from CPPIB, through its wholly owned subsidiary, CPPIB Credit Investments Inc in December 2019.


Canada Pension Plan Investment Board

In September 2019, CPPIB bought ~8% stake in Logistics provider Delhivery for $115 mn. The investment was made through CPPIB’s Fundamental Equities Asia group, which performs fundamental research in invests in corporates throughout Asia.


Caisse de dépôt et placement du Québec

CDPQ bought stake in Mahindra & Mahindra ltd for INR 1,244 Crore in June 2019. This is the first investment by CDPQ in Mahindra & Mahindra and in India’s automobile sector.



In May 2018, Fairfax India acquired an incremental 6% of BIAL from Siemens for $67 million, bringing its ownership to 54%. In 2017, Fairfax India had acquired a total of 48% of BIAL for $586 million. 

Canada Team

One-stop-shop for exploring and materializing your India entry plans. By working closely with the Union Ministries, States and regulatory authorities, we bring to you a seamless experience in kick-starting your India business.

Key Functions


  • End-to-end spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare
  • Initiating, attracting, facilitating, fast-tracking and handholding Canadian investments across sectors
  • Providing information on investment opportunities across sectors, in specific projects 
  • Extending holistic support to the small and medium enterprises from Canada with interest in investing in India

Team Advantages

  • Opportunity assessment

    Opportunity assessment

  • Policy and incentive advisory

    Policy and incentive advisory

  • Location assessment

    Location assessment

  • Market entry strategy

    Market entry strategy

  • JV and strategic partner research

    JV and strategic partner research

  • Approvals and compliance advisory

    Approvals and compliance advisory

  • Issue redressal support

    Issue redressal support

  • Expansion advisory

    Expansion advisory

  • Policy impact analysis

    Policy impact analysis

  • Investment Monitor 2022


    Investment Monitor 2022

    Read Now
  • 2020


    Investment Monitor 2020: Report On Trade Agreements And Foreign Direct Investment Between Canada And The Asia…

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  • 2021


    Investment Monitor 2021: Report On Post-COVID Recovery And Foreign Direct Investment Between Canada And The As…

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  • fp


    Food Processing in India

    Read Now
  • OG


    Oil & Gas Sector

    Read Now
  • Auto


    Automobile & Auto Components Sector

    Read Now
  • RE


    Renewable Energy Sector

    Read Now

About Us

Invest India

The one stop-shop to ensure your success in India

Our Prestigious Awards

We are the most awarded IPA in the world

  • The World's Most Innovative Investment Promotion Agency Award 2021 awarded by OCO Global

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response

  • Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.

  • Great Place to Work Certification by GPTW Survey 2019

  • The UNCTAD Award 2018 for promoting investment in sustainable development

  • Great Place to Work Certification by GPTW Survey 2018

  • Investment Award 2016 from the Indian Ocean Rim Association (IORA)

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion