Indian firms invest CAD 6.6 billion in Canada, according to a report

According to a recently released report by the Asia Pacific Foundation of Canada, Indian companies have invested CAD 6.6 billion in Canada. These investments are spread across diverse sectors such as pharmaceuticals, IT, mining, and renewable energy. The report highlights the increasing investment and trade relationships between the two nations.

The investments made by Indian companies in Canada have experienced a significant rise in recent years, with the total investment increasing from CAD 1.1 billion in 2015 to CAD 6.6 billion in 2021. The pharmaceutical sector received the most significant share of the investment, with IT and mining following closely behind.

Moreover, the growing interest of Indian companies in Canada’s renewable energy sector. This interest has resulted in several Indian companies investing in wind and solar power projects in Canada, which could create more job opportunities.

 There is immense potential for further growth in trade and investment between the two countries as they have complementary strengths in various sectors. It further highlights Canada’s favourable investment climate, skilled workforce, and stable political environment as factors that make it an attractive destination for Indian companies seeking to expand their global presence.

Re-reported from the story originally published in  The Print