6 days ago

Sitharaman Pitches India Investment Opportunities to Canadian Financial Giants

India’s Finance Minister Nirmala Sitharaman met leaders of large Canadian financial companies and pension funds.

She asked them to invest more money in India.

She said India is growing and needs investment in roads, ports, energy, cities and digital systems.

She also pointed to new opportunities in insurance because foreign investors can now own up to 100 percent of insurance businesses.

Sun Life Financial was asked to expand its work in insurance and other financial services.

Pension funds were encouraged to invest in infrastructure and emerging sectors.

Canaccord Genuity was asked to help Indian companies find money and expand in other countries.

The meetings were part of efforts to strengthen economic ties between Canada and India.

Key facts

Insurance FDI limit: India’s foreign direct investment limit in insurance was highlighted as having risen from 74% to 100%.
Insurance vision: Sitharaman promoted the government’s goal of “Insurance for All by 2047.”
Investment sectors: Discussions included transmission, renewable energy, roads, ports, urban infrastructure, digital infrastructure and data centres.
Financial opportunities: GIFT IFSC was presented as a venue for private credit and international financial services.
Existing commitment: CPPIB and OTPP were recognized for their continued confidence and long-term commitment to India, including investment in NIIF Infra Fund II.
Canaccord’s proposed role: Canaccord Genuity was encouraged to connect Canadian and global capital with Indian businesses and support overseas expansion and acquisitions.
Trade ambition: Canada-India goods and services trade was described as around $24 billion in 2024, with an ambition to reach $70 billion annually by 2030.

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