Indian companies invest CAD $6.6 billion, create nearly 17,000 jobs in Canada: Report

New Delhi: India-based companies have invested CAD $6.6 billion and created nearly 17,000 jobs across Canada, according to a report released on Thursday by the Confederation of Indian Industry (CII) in partnership with the Canada – India Business Council (CIBC) and the High Commission of India in Canada.

The report, titled “From India to Canada: Economic Impact and Engagement,” is the first to capture the growing presence of Indian companies in Canada and their contributions to the country’s economy. 

The report highlights the benefits of Indian foreign direct investment, jobs created and saved, research and development funding, and local corporate social responsibility initiatives.

The survey report captured a sample of 30 Indian companies doing business in Canada, and found that all of them plan to increase their Canadian investments in the next five years. The companies come from a diverse range of industry sectors, operating in eight out of Canada’s ten provinces, with the highest concentration of responding companies in Ontario and Quebec.

The report’s release coincided with the Canada visit of Commerce and Industry minister Piyush Goyal, and is a significant step towards strengthening bilateral relations between the two countries and exploring new avenues for economic cooperation.

The report’s findings demonstrate the positive impact of Indian investment in Canada, highlighting the potential for continued economic cooperation and growth between the two nations.