Canadian pension funds will make additional investments in India as they view it as an important market, a top minister said as he signalled his government’s commitment to deepen trade and economic ties with New Delhi.
“I have no doubt that the response has been very positive from the pension funds. They see it as an important market to make additional investments,” Navdeep Bains, minister for Innovation, Science and Economic Development, told TOI in an interview.
Pension funds from Canada have unveiled large investments in India, taking advantage of the growth opportunities in Asia’s third largest economy. Brookfield Asset Management and Caisse de Depot et Placement du Quebec (CDPQ) have announced several investment plans.
The Narendra Modi administration has set its eyes on investment from pension funds from Canada to meet the needs of the infrastructure sector.
Bains, who is in India on a week-long visit, also said Canada is keen to move forward with the Comprehensive Economic Partnership Agreement (CEPA) with India. Negotiations for the CEPA began in 2010, but it has made limited progress due to several sticking points.
He said Indian companies are welcome to take part in Canada’s infrastructure sector. “We ran on a campaign of making significant investments in infrastructure; $180 billion dollar investment in infrastructure over the next 10 years.We don’t have monopoly on good ideas,” said Bains.
The Times of India