Investment growth comes as New Delhi and Ottawa seek deeper trade and economic ties
Indian companies have invested nearly CAD 11 billion in Canada, generating more than 33,000 jobs across the country, according to a joint report by the Confederation of Indian Industry (CII) and the Canada-India Business Council (CIBC).
The report, From India to Canada: Economic Impact and Engagement, was released during Indian Commerce Minister Piyush Goyal’s recent visit to Canada. It found that 50 Indian companies are now operating across eight of Canada’s ten provinces, with employment created by these businesses almost doubling compared with figures reported in 2023.
Indian investments span a wide range of sectors, including information technology, manufacturing, life sciences and professional services. The report also highlighted CAD 1.08 billion invested in research and development activities and a further CAD 24 million directed towards corporate social responsibility initiatives.
According to the findings, all surveyed companies intend to increase their investments in Canada over the next five years. Nearly all expect to expand their workforce, while most also plan to strengthen commitments to research, innovation and community programmes
The latest figures come as India and Canada work towards concluding negotiations on a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026. During his visit, Goyal led a delegation of more than 100 business leaders and reaffirmed the shared goal of increasing bilateral trade to USD 50 billion by 2030.
Economic cooperation is also expanding into new areas. Mining, energy and critical minerals have emerged as key sectors for future collaboration, reflecting growing interest in securing supply chains for strategic resources.
Earlier this year, Indian Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney announced a strategic energy partnership aimed at boosting cooperation in renewable energy, liquefied petroleum gas (LPG), uranium supplies and emerging technologies.
Trade between the two countries continues to grow. Bilateral trade in goods and services reached approximately USD 23 billion in 2024, with services among the fastest-growing sectors. Canada exports products such as pulses, fertilisers, newsprint and industrial chemicals to India, while India supplies pharmaceuticals, engineering goods, garments, gems and jewellery to the Canadian market.
