6 days ago
Sitharaman Pitches India’s Fintech and GIFT City Opportunities
India’s finance minister, Nirmala Sitharaman, visited Toronto to encourage Canadian investors to invest in India.
She said India is growing quickly and has a young population and expanding middle class.
She pointed to digital payments, insurance, pensions and financial services as important opportunities.
She also highlighted GIFT City, a place designed to connect India with international finance.
Sitharaman said Canadian pension funds have already invested more than C$100 billion in India.
She invited Canadian banks and technology companies to work with India on digital payments.
She also said India could help create supply chains for semiconductors and rare-earth materials.
The two countries are working to strengthen their relationship and increase trade to C$70 billion by 2030.
Finance Minister Nirmala Sitharaman invited Canadian banks, fintech firms and institutional investors to invest in India.
She highlighted digital payments, GIFT City, insurance, asset management and pensions as opportunity areas.
Sitharaman said Canadian pension funds have invested more than C$100 billion in India.
She described UPI as the world’s largest real-time payment system by transaction volume.
India and Canada aim to more than double bilateral trade to C$70 billion by 2030.
- Who
- Finance Minister Nirmala Sitharaman, Canadian banks, fintech firms, institutional investors and the Indian and Canadian governments.
- What
- Sitharaman pitched investment opportunities in India’s financial services, fintech, infrastructure and emerging-technology sectors.
- Where
- Toronto, Canada, with proposed investment opportunities in India and GIFT City.
- When
- During an investor outreach in Toronto; she referred to an understanding between the two prime ministers reached at the G7 summit in June 2025.
- Why
- To attract Canadian capital, deepen India-Canada economic ties and support a goal of more than doubling bilateral trade to C$70 billion by 2030.
Key facts
- India’s stated real GDP growth
- 7.6% in 2025-26
- Existing Canadian pension investment
- More than C$100 billion in India
- Insurance foreign investment
- 100% FDI is permitted in insurance
- Highlighted payment system
- Unified Payments Interface, or UPI
- Financial hub
- GIFT City, India’s international financial services centre
- Bilateral trade ambition
- More than C$70 billion by 2030
- Emerging sectors
- Semiconductors, magnets and rare earths
Quotes
Nirmala Sitharaman
India’s finance minister
“With 100% FDI now permitted in insurance and India’s leadership in FinTech at scale, opportunities for capital are expanding rapidly.”
financialexpress.com
“There are significant opportunities here for collaboration with Canadian banks, fintech companies, and regulators.”
financialexpress.com
Sources
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