Archive · 28 Aug 2026
India and Canada Seek Deeper Financial and Investment Cooperation
India and Canada are discussing ways to work more closely on money and investments.
Nirmala Sitharaman said the two countries have different strengths that fit together.
India offers a large economy, growth and many opportunities.
Canada offers investment money, financial expertise and strong institutions.
India has also made reforms to strengthen its banks.
The share of bad loans at Indian banks fell from 11.18% in 2018 to 2.31% in 2025.
Both countries are considering easier digital payments and international money transfers.
Sitharaman also encouraged Canadian companies to explore financial opportunities in India.
Nirmala Sitharaman said India and Canada can deepen financial-sector cooperation and develop long-term investment partnerships.
She described India as offering scale, growth and opportunity, while Canada provides long-term capital, institutional depth and expertise.
Sitharaman highlighted reforms that helped reduce Indian banks’ gross non-performing asset ratio from 11.18% in March 2018 to 2.31% in March 2025.
The two countries are exploring digital cooperation involving easier payments, cross-border remittances and expanded digital payment choices.
Sitharaman invited Canadian financial institutions to consider opportunities in GIFT IFSC, banking, fund management, reinsurance and other sectors.
- Who
- India’s Finance Minister Nirmala Sitharaman and Canada’s Finance and National Revenue Minister François-Philippe Champagne attended the discussions.
- What
- The countries discussed deeper financial cooperation, long-term investment partnerships and digital-payment collaboration.
- When
- Friday; the articles do not provide a specific date.
- Where
- A high-level India-Canada Business Roundtable in Toronto.
- Why
- The ministers identified complementary economic strengths and scope to expand investment and economic cooperation.
- India’s banking reform
- Sitharaman cited the Asset Quality Review, Insolvency and Bankruptcy Code, the 4R approach and EASE reforms.
- Gross non-performing assets
- The ratio for Scheduled Commercial Banks fell from 11.18% in March 2018 to 2.31% in March 2025.
- Digital cooperation
- Discussions included easier payments, cross-border remittances and greater digital payment choices.
- India’s financial ecosystem
- Sitharaman highlighted capital markets, insurance, fintech and Digital Public Infrastructure.
- Investment venue
- Canadian financial institutions were invited to explore GIFT IFSC.
- Potential sectors
- Opportunities mentioned included banking, fund management, reinsurance, sustainable finance, Global Capability Centres, and aircraft and ship leasing.