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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 reaffirmed the breadth and scope of Canada-India relations, based on the fundamental principle of respect for the sovereignty, unity, and territorial integrity of the two countries.

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

    • PM Justin Trudeau visited Delhi for the G20 Leaders’ Summit on 9-10 September 2023. He had a pull-aside meeting on the sidelines of the Summit.

    • The Canadian government unveiled its Indo-Pacific Strategy in Nov 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. 

    • Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry co-hosted the 6th Canada-India Ministerial Dialogue on Trade and Investment with Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development in May 2023, where they issued a joint statement aimed at strengthening Canada-India economic relations. The ministers made advancements in key trade initiatives, including ongoing discussions towards an Early Progress Trade Agreement (EPTA).

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

    • 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.

    • PM Justin Trudeau’s visit to India in Feb 2018 was marked by the 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.

    • Energy has been a prime area of focus in our bilateral ties. There have been three rounds of energy dialogues focusing on the 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 of sustainable development.

    • Hon. Prime Minister of India’s visit to Canada in 2015 signified the start of a strategic chapter in 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.

    • Canada is the 17th largest foreign investor in India with a cumulative investment of $3.85 Bn from Apr 2000 to Mar 2024. Canadian investments represented 0.57% of the total FDI inflows into India.

       

    • Bilateral trade in goods amounted to approximately $7.65 Bn in 2023 (Jan-Oct). with India's exports to Canada amounting to $4.70 Bn and India's imports from Canada amounting to $2.95 Bn during the period.

    • India’s bilateral services trade with Canada stood at $8.74 Bn in 2022.

    • 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.

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

        • Bengaluru - $5.4 Bn
        • Mumbai – $5.1 Bn
      • A priority market for Canada, in 2022, India was Canada’s 9th largest trading partner.

        • Cultural Relations form the bedrock of the India-Canada relationship. Canada hosts one of the largest Indian Diasporas in the world, numbering 1.8 Mn peoples of Indian origin, accounting for more than 3% of the total Canadian population and more than 1 Mn NRIs. The Diaspora mainly lives in Toronto (Ontario), Vancouver (British Columbia), Montreal (Quebec), Calgary (Alberta), Ottawa (Ontario) and Winnipeg (Manitoba).

        • Diwali has been celebrated on Parliament Hill in Canada for the last 21 years. More than 400 persons and 8 Members of the 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 COVID-19 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.

      PROMINENT INVESTMENTS

      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

      Headquartered in Toronto, CPPIB’s Mumbai office opened in 2016 and is currently one of its 8 international offices. CPPIB is governed and managed ...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

      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

      Toronto-based OTPPB is one of the largest privately owned Canadian pension funds managing assets on behalf of over 3 lakhs+ working and retired ...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 a significant presence in Canada. Its major companies are in the pulp & fibre business, metals business, ITES business ...Read more

      Wipro

      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

      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

        • #2

          Highest installed wind capacity in Asia

        • #4

          Solar Power Capacity Globally (as per REN21 Renewables 2022 Global Status Report)

        • #4

          Largest Renewable energy capacity Globally

          • The 30-GW renewable energy park at Kutch, Gujarat is billed as the largest of its kind in the world
          • As of Oct 2023, 50 solar parks sanctioned with a cumulative capacity of 37.49 GW in 12 states
          • 144+ GW installed capacity of renewable energy
        Visit Sector 499Investible Projects
      • Agriculture forestry banner

        Agriculture

        • #1

          Largest producer of spices, pulses, milk, tea, cashew, and jute globally

        • #1

          Largest producer of banana and papaya

        • #2

          Largest producer of Bamboo in the World

        •  

          • For the year 2022-23, an export target of $23.6 Bn had been fixed by APEDA for the agricultural and processed food products basket out of which $19.694 Bn has already been achieved in 9 months of the current fiscal
          • The overall export of Agricultural and Processed Food Export Development Authority (APEDA) products increased to $13.77 Bn in Apr-Sept 2022 from $1.05 Bn in the same period a year ago
          • India’s Agriculture Exports reached $33.27 Bn in FY 2023-24
        Visit Sector 76Investible Projects
      • Oil & Gas

        Oil & Gas

        • #1

          Largest exporter of Petroleum products in Asia

        • #2

          Largest refiner in Asia

        • #3

          Largest consumer of crude oil and petroleum products

          • India's primary Energy demand is expected to grow at a CAGR of 4.2% during 2017-2040
          • Target of achieving 20% ethanol blending in petrol by 2025
          • 23,500 km long Natural Gas pipeline network is operational in the country and 12,000 km of gas pipeline are under construction
        Visit Sector 1Investible Projects
      • Automobile

        Automobile

        • #2

          Largest Two-wheeler Manufacturing Country

        • #3

          Largest Automotive market

        • #4

          Largest car manufacturing country

          • India aims to double its auto Industry size to INR 15 Lakh Cr by the end of 2024
          • Employs 35 Mn people both directly and indirectly
        Visit Sector 3Investible Projects
      • Metals & Mining

        Metals & Mining

        • #2

          Largest Coal producer in the world

        • #2

          Largest crude steel producer in the world

        • #4

          Largest Iron ore producer in the world

          • 255 MT of Forecasted crude steel demand/production (2030-31)
          • 158 kg of Per capita finished steel consumption (2030-31)
          • 300 MT of Domestic steel production capacity by 2030
        Visit Sector 21Investible Projects
      • Food Processing

        Food Processing

        • #1

          Largest producer, consumer, and exporter of spices

        • #1

          Producer of Milk Globally

        • #1

          Producer of sugar in the world

          • India’s food processing sector is one of the largest in the world and its output is expected to reach $535 Bn by 2025-26
          • 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
        Visit Sector 76Investible Projects

      Investible Projects

      Explore Opportunities

      •  
        Projects

        6493

      •  
        Opportunity

        $ 383.24 bn

      •  
        Promoters

        2572

      •  
        District

        714

      •  
        Private Projects

        100

      •  
        Govt. Projects

        6071

      Recent Investments

      Brookfield to invest up to $845 Mn in joint venture with Axis Energy

      Brookfield to invest up to $845 Mn in joint venture with Axis Energy

      Brookfield Asset Management has entered into a joint venture with Hyderabad-based Axis Energy Ventures India to set up a renewable energy development platform, with the investment management company investing up to $845 Mn. The Indian firm will provide its existing pipeline of wind and solar power projects that are under various stages of development in the country.

      Magna

      Magna invests in engineering center to expand presence in India

      Magna is investing more than $120 Mn to establish and operate a new engineering center in Bengaluru, India, to support e-mobility.

      BCI

      British Columbia Investment Management Corporation and Mubadala invest in India's infrastructure investment trust

      British Columbia Investment Management Corporation and Mubadala Investment Company, Abu Dhabi’s sovereign investor, have become anchor investors in Cube Highways Trust, an infrastructure investment trust (InvIT) in India.

      CPPIB

      CPPIB Builds Over $200 Mn Stake In Indian Financial Services Company

      CPPIB increased its ownership interest in a financial services company in India, taking its total investment in the portfolio firm to more than $200 Mn.

      CPPIB

      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.

      CPP Investments Commits INR 1,800 Cr To India In 3rd Quarter

      CPP Investments Commits INR 1,800 Cr To India In 3rd Quarter

      Canada Pension Plan Investment Board (CPP Investments), Canada’s largest pension fund manager, has committed a total of nearly INR 1,800 Cr to India’s private equity and real assets sector.

      CPPIB

      CPPIB Anchors New IndoSpace Fund with $205 Mn Investment

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

      CPPIB

      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 Mn) 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 Bn / INR 14.85 Lakh Cr (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

      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.

      OTPP

      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

      OTPP

      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 INR 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

      Brookfield

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

      Brookfield

      Brookfield

      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

      CPDQ

      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%.

      CPP

      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.

      CPPIB

      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.

      CDPQ

      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.

      Fairfax

      Fairfax

      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

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      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

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