May 12, 2023
1 min read

Indian firms account for $6.6b in investments in Canada

The survey found Indian companies operating in 8 out of Canada’s ten provinces in a diversity of industry sectors….reports Asian Lite News

India-based companies are responsible for creating tens of thousands of jobs and Canadian dollars worth USD 6.6 billion in investments across Canada, according to a new report released on Thursday by the industry body Confederation of Indian Industry (CII) in partnership with the Canada – India Business Council (CIBC) and the High Commission of India in Canada.

The report was launched during the latest Canada visit of Piyush Goyal, Minister of Commerce and Industry. The launch of “From India to Canada: Economic Impact and Engagement” is the first known attempt to capture Indian Industry’s growing Canadian presence.

The surveyor captured data after sampling as many as 30 companies doing business in Canada. All responding companies said they plan to increase their Canadian investments in the next five years.

While Ontario and Quebec had the highest concentration of responding companies, the survey found Indian companies operating in 8 out of Canada’s ten provinces in a diversity of industry sectors.

Ontario was cited in the survey responses as the most favourable business environment, evidenced also by it hosting the largest concentration of Indian companies. British Columbia and Quebec tied as the second most favourable.

Given the greater degree of engagement we’ve now embarked upon with high-level exchanges on both sides, the India-Canada economic relationship can improve very significantly. We see a lot of Indian talent contributing to the Canadian economy, and even investments coming in from India to Canada. I am confident that this will be a two-way traffic, and both countries stand to benefit,” said minister Piyush Goyal.

According to Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Government of Canada: “Strengthening the Canada-India economic partnership is good for businesses on both sides of the Pacific. The CII and C-IBC report shows the benefits that come when we collaborate. Working together is how we create jobs and opportunities for growth, and by reinforcing our trade ties we’re setting our businesses up for success.” (ANI)

ALSO READ: Republicans release probe into Biden family finances

Previous Story

New Delhi appoints envoys for Botswana, Bahrain and Norway

Next Story

Khalistan movement poses complex challenge to India, West & Sikhism

Latest from -Top News

Taliban’s Grave Warning for Pakistan

It came less than 24 hours after Pakistan’s Defence Minister Khawaja Asif reportedly issued a stern warning to Afghan Taliban…reports Asian Lite News As relations between Afghanistan and Pakistan continue to deteriorate,

US deports 2,790 Indians in 2025

The MEA on Thursday confirmed that over 2,790 Indians were deported from the US this year after authorities verified their identity and nationality….reports Asian Lite News The Ministry of External Affairs (MEA) confirmed on

India–Cyprus talks on future plan

EAM Jaishankar expressed appreciation for Cyprus’ support for India on cross-border terrorism….reports Asian Lite News External Affairs Minister S. Jaishankar and Cyprus Foreign Minister Constantinos Kombos met in New Delhi on Thursday

Rajnath Singh off for ASEAN meet

Singh is expected to hold bilateral meetings with counterparts from the participating ADMM-Plus nations ..reports Asian Lite News Defence Minister Rajnath Singh departed for Kuala Lumpur on Thursday to attend the 12th
Go toTop

Don't Miss

Doval in Jeddah for Saudi Arabia hosted Ukraine peace talks

Doval was welcomed at the Jeddah Airport by Indian Ambassador

Pitru Vandana by Sanskruti Centre evokes artistry and emotions

Transcending the bounds of time and languages, Pitru Vandana event