Team Blitz India
WASHINGTON: Indian companies have invested more than CAD 6.6 billion in Canada creating tens and thousands of jobs in the country, with all of them planning to invest more in the future, according to a CII report released in Toronto.
The report ‘From India to Canada: Economic Impact and Engagement’ launched by Union Commerce and Industry Minister Piyush Goyal during his recent visit to the city is the first known attempt to capture Indian Industry’s growing Canadian presence.
The report, carried by major English dailies on May 11, highlights the contributions made by Indian companies to the Canadian economy in the form of FDI, jobs created and saved, and funding for research and development as well as local corporate social responsibility initiatives.
“Canada has a large investible surplus and is looking for good investment opportunities in India. Given the greater degree of engagement we’ve now embarked upon with high-level exchanges on both sides,” Goyal said at the report launch event organised by CII and Canada-India Business Council.
According to the report, together, 30 Indian companies with an aggregate tangible investment of CAD $6.6 billion, employ approximately 17,000 people across eight Canadian provinces.
According to the report, 100 per cent of participating companies plan to invest more in Canada in the next five years, and 96 per cent plan to hire more employees.
