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India-Canada Trade Relations: The ongoing tension between India and Canada is likely to affect Indian industries. In response to Canadian Prime Minister Trudeau's continuous attacks on India, India expelled six Canadian diplomats. The growing tension between the two countries has especially increased tensions among Indian companies with Canadian pension fund investments. Investments can be withdrawn from other companies including Kotak Mahindra Bank, online food delivery platform Zomato.
Canada's investment in these areas
Canada Pension Fund has major investments in India and has a strong stake in many big companies of the country. CPPIB has invested heavily in infrastructure, renewable energy, IT and financial services companies in India. According to a report, Kotak Bank has CPPIB's Rs. 6141.6 crores, while Zomato has around Rs. Investing Rs 2,778.1 crore (1.15 per cent stake), in addition, it has significant investments in Delhivery Limited and FSN E-Commerce Ventures Limited.
Invest in these companies also
According to reports, the Canadian pension fund has invested in several other Indian companies and the list includes online payment service giants Paytm, Nykaa, Indus Tower. However, despite rising diplomatic tensions between Canada and India, by September 30, 2024, Canadian funds will be worth about Rs. Domestic equity of Rs 1.98 lakh crore and looking at this figure, it seems that CPPIB is in no hurry to exit right now. However, it has been reducing its share since last one year.
investment of 40 thousand crores
According to a report released by the Confederation of Indian Industry (CII) last year, more than 30 Indian companies have a presence in Canada and through them, Rs. An investment of Rs 40,446 crore has been made. More than 17 thousand people have got employment through these companies. The R&D expenditure of these companies is also 700 million Canadian dollars.
600 Canadian companies do business in India
According to the report, about 600 Canadian companies are doing business in India and there is huge trade in terms of import and export between the two countries. Bilateral trade between India and Canada was $8.3 billion in FY 2022-23, which will increase to $8.4 billion (about Rs 70,611 crore) in FY 2023-24. However, during this period, India's imports from Canada increased to $4.6 billion, while exports fell to $3.8 billion. According to a report, from 2013 to 2023, most of the investments made by Canadian pension funds in India will be in real estate (over 3.8 billion Canadian dollars), financial services (over 3 billion Canadian dollars) and industrial transportation (about 2.6 billion Canadian dollars). ) were in. dollar). There has also been heavy investment in the infrastructure and renewable energy sectors.
Import-export of these goods
India exports gems, jewelery and precious stones, pharmaceutical products, ready-made garments, mechanical equipment, organic chemicals, light engineering products, iron and steel to Canada. While India buys paper, wood pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals from Canada.