NEW DELHI: India has emerged as a platform for global production, innovation, services and exports, FM Nirmala Sitharaman said in Toronto as she invited Canadian businesses to invest in India for building long-term operations and partnerships that will serve India and wider global markets.“For Canadian investors, India offers a combination that is difficult to match — scale, sustained growth, a young population expanding consumption and rapidly deepening capital markets… India’s transformation is structural. For Canadian institutional investors, this creates opportunities to participate in India’s growth but also use India as a platform for wider regional and global financial activity,” said Sitharaman while addressing a high-level business roundtable in Toronto. Sitharaman is in Canada to pitch India as an attractive investment destination and further strengthen bilateral economic ties.At a joint presser with her Canadian counterpart François-Philippe Champagne, FM said she discussed practical avenues for cooperation in the financial sector, including cross border payments, financial stability, fintech and capital markets. “We (also) explored opportunities for wider international and multilateral cooperation on issues of interest, such as critical minerals and energy security.”Noting the “substantial and long-term presence” of Canadian pension funds across different sectors of the Indian economy, she reiterated that these are investments built around the “long-term view” of India’s growth story.Responding to a query regarding steps being taken to promote higher investments by Canadian pension funds, Sitharaman said national asset monetisation pipeline provides ample investment opportunities for those seeking higher returns. “Pension and sovereign funds are looking for growth areas, wherein their investments will give good returns. India being fastest growing major economy and govt’s own investment in infrastructure and sunrise sectors ... provides immense possibility for funds to come and invest.”
