Canada to invite nearly 15 lakh immigrants in next three years, but can India retain the top spot? Explained | Mint
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Business News/ News / World/  Canada to invite nearly 15 lakh immigrants in next three years, but can India retain the top spot? Explained
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Canada to invite nearly 15 lakh immigrants in next three years, but can India retain the top spot? Explained

Canada's Immigration Levels Plan 2024-2026 aims to invite 485,000 new immigrants in 2024 and 500,000 in 2025 and 2026 each year to address labour shortages and spur economic growth.

Canada's Immigration Levels Plan 2024-2026 aims to invite 485,000 new immigrants in 2024 and 500,000 in 2025 and 2026 (HT_PRINT)Premium
Canada's Immigration Levels Plan 2024-2026 aims to invite 485,000 new immigrants in 2024 and 500,000 in 2025 and 2026 (HT_PRINT)

With Canada releasing the Immigration Levels Plan 2024-2026, Marc Miller, Immigration Minister, cited it is ‘tailored to support economic growth while balancing with the pressures in areas like housing, healthcare and infrastructure.’ As per the plan, Canada will invite 485,000 new immigrants in 2024, and 500,000 in 2025 and 2026 each year.

Canada is currently facing an aging population and labour shortages in key sectors and hence, it is seeking to spur growth with the help of new qualified professionals from countries like India. In 2022, India provided 118,095 new permanent residents to Canada, more than a quarter of the total 437,120 new permanent residents for 2022, Immigration, Refugees and Citizenship Canada (IRCC) said.

Can India retain the top spot? 

Amid the heightened diplomatic tensions between the two countries, there are speculations that the immigration process slow down. However, experts are of the opinion that ‘Canada don't have a choice’ apart from welcoming immigrants. 

Rajiv S. Khanna, managing attorney at Immigration.com, the Law Offices of Rajiv S. Khanna, PC, said, “Despite the tension, immigration wise, they don't have a choice."

Explaining further, he said, Canadians need immigrants because their population growth could soon be close to 0% without having immigration to sustain them by 2030.

As per the official figures presented by the Canadian government, by 2035 million Canadians will retire and the ratio will be then down to only three workers for every retiree means 25% of their population would have retired.

“Hence, if they don't have immigrants, they will not be able to offer that same level of services to its residents. So in other words, they need the younger people amongst the immigrants to support the aging education, aging population of Canada."

2024-2026 Immigration Levels Plan: All you need to know

The 2024-2026 Immigration Levels Plan charts a responsible course for sustainable and stable population growth, a press release from Immigration, Refugees and Citizenship Canada said.

With this Levels Plan, the Government of Canada is maintaining its target of 485,000 permanent residents for 2024 and completing the final step to reach 500,000 in 2025.

Starting in 2026, the government will stabilise permanent resident levels at 500,000, allowing time for successful integration, while continuing to augment Canada’s labour market, the press release said.

The government also plans to take action over the next year to recalibrate the number of temporary resident admissions to ensure this aspect of our immigration system also remains sustainable, it said.

Immigration minister Miller said “Immigration drives Canada’s economy and fuels its future growth."

Further, speaking about the Immigration Levels Plan 2024-2026 and the sectors that need immediate attention, he said, "This plan is tailored to support economic growth while balancing with the pressures in areas like housing, healthcare and infrastructure. It charts a responsible course for sustainable and stable population growth."

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ABOUT THE AUTHOR
Sanchari Ghosh
Sanchari Ghosh is a Chief Content Producer with LiveMint. She covers news, human interest, epidemiology and personal finance stories
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 02 Nov 2023, 06:02 PM IST
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