Blitz Bureau
NEW DELHI: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has invited Canadian investors to step up their participation in India’s growth story, highlighting opportunities across banking, insurance, fintech, semiconductors it was announced on August 26.
Addressing reception of the Indian diaspora business community in Toronto, FM Sitharaman said India’s scheduled commercial banks were in the best of health and that significant investment was taking place in the banking sector.
“India’s financial sector, the banking in particular, the NBFCs and their rapid growth is inviting a lot of international interest,” she said in a post on X.
Sitharaman also noted that GIFT City, India’s International Financial Services Centre, has already attracted several foreign banks and offers scope for more international financial institutions to establish operations.
“The commitment from the Government of India is that we want Canadian investors to come and have greater engagement with India,” she said.
The minister highlighted India’s large population, purchasing power, consumption and demand as key factors making the country an attractive investment destination.
In a separate post on X, FM Sitharaman said India was creating new gateways for international capital through GIFT City, which is emerging as a global platform for international financial institutions.
She said GIFT City’s regulatory and tax framework had been designed specifically to facilitate cross-border financial activity.
