Finance Minister Nirmala Sitharaman has sought to deepen Canadian investment in India, highlighting opportunities across infrastructure, technology, capital markets and critical minerals during meetings with some of Canada’s largest 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.
The discussions focused on expanding the investment bank’s engagement with India, including supporting Indian companies in accessing global capital, expanding overseas and acquiring technology and businesses abroad, Mint reported.
The talks also covered critical minerals and mining, technology and sustainability, as well as the potential to leverage India as a hub for global businesses.
Sitharaman highlighted India’s large and growing domestic market, deepening capital markets and macroeconomic resilience. She also pointed to reforms aimed at strengthening investor protection, ease of doing business and dispute resolution, according to the ministry.
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 the Canada Pension Plan Investment Board (CPPIB).
She 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, the statement said.
In another meeting, Sitharaman met Jo Taylor, president and CEO of Ontario Teachers’ Pension Plan (OTPP).
She appreciated the pension fund’s long-term confidence in India and its 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.
Sitharaman also highlighted GIFT IFSC as a platform for global investors and encouraged OTPP to deepen its engagement with India and explore larger investment opportunities.
Sitharaman also participated in a high-level business roundtable in Toronto with chief executives, presidents and senior executives of leading Canadian companies.
The meeting was organised by the Canada-India Business Council and the Confederation of Indian Industry.
Business leaders from clean technology, critical minerals, rare earths, energy storage, sustainable infrastructure, agriculture, food processing, automotive, textiles, green steel, aerospace, space, cybersecurity, biotechnology, artificial intelligence (AI), asset management, higher education and skills development participated in the roundtable.
The meetings and discussions focused on strengthening Canada-India investment and business ties, with Sitharaman highlighting India’s growth opportunities and encouraging greater participation by Canadian institutional investors and businesses.
