Sitharaman seeks to boost Canadian investment
New Delhi, Aug. 28 -- Finance minister Nirmala Sitharaman has sought to deepen Canadian investment in India, pitching the country's infrastructure, technology, capital markets and critical-minerals opportunities to some of Canada's biggest institutional investors and businesses, according to a finance ministry statement on Thursday.
In Toronto, Sitharaman met Dan Daviau, chief executive, and Rod Phillips, vice chair, of Canaccord Genuity, a Canadian investment bank and financial services firm, with discussions focused on expanding the investment bank's engagement with India.
This included supporting Indian companies in accessing global capital, expanding overseas and acquiring technology and businesses abroad.
The discussions also covered critical minerals and mining, technology and sustainability, and leveraging India as a hub for global businesses. Sitharaman highlighted India's large and growing domestic market, deepening capital markets and macroeconomic resilience, along with reforms aimed at improving investor protection, ease of doing business and dispute resolution, as per the finance ministry statement.
She encouraged Canaccord Genuity to explore opportunities across India's growth sectors and help connect Canadian and global capital with Indian businesses.
Sitharaman also met John Graham, president and CEO of Canada Pension Plan Investment Board (CPPIB), and appreciated the pension fund's continued confidence in India and its long-term commitment, including its investment in NIIF Infra Fund II.
The discussions focused on expanding institutional investment across transmission, renewable energy, roads, ports, urban infrastructure, digital infrastructure and data centres.
Sitharaman highlighted India's growing infrastructure monetisation pipeline and efforts to strengthen investor protection, regulatory predictability and transparency. She also pointed to new opportunities through GIFT IFSC in private credit and international financial services, and encouraged CPPIB to deepen its engagement with India's infrastructure and emerging growth opportunities, according to the statement.
In another meeting, Sitharaman met Jo Taylor, president and CEO of Ontario Teachers' Pension Plan (OTPP), and appreciated the pension fund's long-term confidence in India and partnership with NIIF, including its participation in NIIF Infra Fund II.
The discussions explored ways to expand OTPP's infrastructure investments through partnerships and co-investment, including in transmission, transport, urban infrastructure and renewable energy....
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