Indian Companies Invested 6.6 Billion Canadian Dollars in Canada: Report
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Washington: Indian companies have invested 6.6 billion Canadian dollars (CAD) in Canada, creating thousands of jobs. This information has been given in a report released by the Confederation of Indian Industry (CII) in Toronto. The report states that Indian companies are open to further investments in Canada in the future. The CII report titled ‘India to Canada: Economic Impact and Connectivity’ was released by Union Commerce and Industry Minister Piyush Goyal during his visit to Toronto. It is understood that this is the first attempt to highlight the presence of Indian companies in Canada.
The report describes foreign direct investment (FDI) by Indian companies in the Canadian economy, job creation and defence, funding for research and development and corporate social responsibility initiatives at the local level. Addressing an event organized by CII and the Canada-India Business Council, Goyal said, “Canada has a large investible surplus and is looking for good investment opportunities in India. In view of better connectivity between the two countries, we have started high-level exchanges.
“We see Indian talent contributing to the Canadian economy, and even? That investment is also coming from India to Canada. I am confident that it will be two-way and will benefit both countries. ”The report states that in total, 30 Indian companies have invested 6.6 billion Canadian dollars in Canada. These companies employ approximately 17,000 people in Canada’s eight provinces.
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