India emerges as global production, innovation hub: FM
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India emerges as global production, innovation hub: FM
Sitharaman said in Toronto as she invited Canadian businesses to invest in India for building long-term operations.

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.โ€œFor Canadian investors, India offers a combination that is difficult to match โ€” scale, sustained growth, a young population expanding consumption and rapidly deepening capital marketsโ€ฆ Indiaโ€™s transformation is structural. For Canadian institutional investors, this creates opportunities to participate in Indiaโ€™s growth but also use India as a platform for wider regional and global financial activity,โ€ 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 Franรงois-Philippe Champagne, FM said she discussed practical avenues for cooperation in the financial sector, including cross border payments, financial stability, fintech and capital markets. โ€œWe (also) explored opportunities for wider international and multilateral cooperation on issues of interest, such as critical minerals and energy security.โ€Noting the โ€œsubstantial and long-term presenceโ€ of Canadian pension funds across different sectors of the Indian economy, she reiterated that these are investments built around the โ€œlong-term viewโ€ of Indiaโ€™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. โ€œPension and sovereign funds are looking for growth areas, wherein their investments will give good returns. India being fastest growing major economy and govtโ€™s own investment in infrastructure and sunrise sectors ... provides immense possibility for funds to come and invest.โ€

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