FM Sitharaman Pitches India To Canadian Investors, Seeks Deeper Investment Flows

(MENAFN- Live Mint) Finance minister Nirmala Sitharaman has sought to deepen Canadian investment in India, pitching the country's infrastructure, technology, capital markets and critical-minerals opportunities to some of Canada's biggest institutional investors and businesses, according to a finance ministry statement on Thursday.

In Toronto, Sitharaman met Dan Daviau, chief executive, and Rod Phillips, vice chair, of Canaccord Genuity, a Canadian investment bank and financial services firm, with discussions focused on expanding the investment bank's engagement with India. This included supporting Indian companies in accessing global capital, expanding overseas and acquiring technology and businesses abroad.

The discussions also covered critical minerals and mining, technology and sustainability, and leveraging India as a hub for global businesses. Sitharaman highlighted India's large and growing domestic market, deepening capital markets and macroeconomic resilience, along with reforms aimed at improving investor protection, ease of doing business and dispute resolution, as per the finance ministry statement.

Quick answers to key questions

.5 QUESTIONS1What sectors is FM Sitharaman promoting for Canadian investment in India?⌵

FM Sitharaman is promoting investments in India's infrastructure, technology, capital markets, and critical minerals sectors to Canadian investors.

2Why is Canada seen as an important partner for India's investment growth?⌵

Canada is considered a vital partner due to its institutional investors and businesses that can contribute significant capital and expertise to India's rapidly growing economy.

3How is India enhancing investor protection for foreign investments?⌵

India is improving investor protection through regulatory reforms, enhancing ease of doing business, and ensuring greater transparency and predictability for investors.

4Should Canadian investors consider investing in India's infrastructure projects?⌵

Yes, Canadian investors should consider India's infrastructure projects, as the country offers numerous opportunities in sectors like renewable energy, urban infrastructure, and data centers.

5What role does GIFT IFSC play in attracting international investments to India?⌵

GIFT IFSC provides a platform for global investors, facilitating opportunities in private credit and international financial services, thus attracting foreign capital to India.

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She encouraged Canaccord Genuity to explore opportunities across India's growth sectors and help connect Canadian and global capital with Indian businesses.

Sitharaman also met John Graham, president and CEO of Canada Pension Plan Investment Board (CPPIB ), and appreciated the pension fund's continued confidence in India and its long-term commitment, including its investment in NIIF Infra Fund II.

The discussions focused on expanding institutional investment across transmission, renewable energy, roads, ports, urban infrastructure, digital infrastructure and data centres.

Sitharaman highlighted India's growing infrastructure monetisation pipeline and efforts to strengthen investor protection, regulatory predictability and transparency. She also pointed to new opportunities through GIFT IFSC in private credit and international financial services, and encouraged CPPIB to deepen its engagement with India's infrastructure and emerging growth opportunities, according to the statement.

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In another meeting, Sitharaman met Jo Taylor, president and CEO of Ontario Teachers' Pension Plan (OTPP), and appreciated the pension fund's long-term confidence in India and partnership with NIIF, including its participation in NIIF Infra Fund II.

The discussions explored ways to expand OTPP's infrastructure investments through partnerships and co-investment, including in transmission, transport, urban infrastructure and renewable energy. Sitharaman also highlighted GIFT IFSC as a platform for global investors and encouraged OTPP to deepen its engagement with India and explore larger investment opportunities.

Sitharaman also participated in a high-level business roundtable with chief executives, presidents and senior executives of leading Canadian companies in Toronto, organized by the Canada-India Business Council and the Confederation of Indian Industry.

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The roundtable brought together business leaders from clean technology, critical minerals, rare earths, energy storage, sustainable infrastructure, agriculture, food processing, automotive, textiles, green steel, aerospace, space, cybersecurity, biotechnology, artificial intelligence (AI), asset management, higher education and skills development.

The meetings and roundtable centred on strengthening Canada-India investment and business ties, with Sitharaman highlighting India's growth opportunities and encouraging greater participation by Canadian institutional investors and businesses.

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