Indian Firms Pump Nearly $8 Billion into Canada, generating 33,000+ jobs

• Indian companies have invested nearly $7.9 billion in Canada.

• 50 firms operate across eight provinces, generating 33,000+ jobs.

• R&D spending exceeds $774 million; CSR crosses $17 million.

• Trade targeted to reach $50 billion by 2030.

• Strategic energy and critical minerals cooperation expanding.

Indian businesses have invested close to CAD 11 billion in Canada—equivalent to approximately $7.9 billion—strengthening their presence across sectors such as information technology, life sciences and manufacturing, according to a joint report by the Confederation of Indian Industry (CII) and the Canada-India Business Council.

The findings were released during Commerce Minister Piyush Goyal’s recent visit to Canada. The report notes that 50 Indian companies now operate across eight of Canada’s 10 provinces, collectively creating more than 33,000 jobs. Notably, employment generated by Indian firms has nearly doubled since 2023, when CII first assessed Indian investment in the country.

Expanding Economic Engagement

The report, titled “From India to Canada: Economic Impact and Engagement,” highlights not just capital inflows but also a deepening commitment to innovation and social responsibility. Indian companies have invested approximately CAD 1.08 billion (about $774 million) in research and development initiatives in Canada. Additionally, around CAD 24 million (roughly $17 million) has been directed toward corporate social responsibility (CSR) programmes.

According to the survey findings, all participating companies intend to expand their Canadian footprint over the next five years. Nearly every firm plans to increase hiring, while a majority are preparing to boost investments in R&D and CSR activities.

Push for Stronger Trade Ties

During his visit, Goyal led a delegation of over 100 Indian business leaders aimed at reinforcing bilateral trade ties. He announced that India and Canada are working toward concluding negotiations for a Comprehensive Economic Partnership Agreement (CEPA) by the end of the year.

The two nations have also set an ambitious goal of increasing bilateral trade to $50 billion by 2030, up from current levels.

In 2024, trade in goods and services between India and Canada reached approximately $23 billion, with services emerging as one of the fastest-growing components of the partnership.

New Areas of Cooperation

While traditional sectors continue to anchor economic relations, new opportunities are emerging. Mining and energy have been identified as key growth areas, particularly cooperation in critical minerals that are essential for clean energy technologies and advanced manufacturing.

Earlier this year, Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney unveiled a strategic energy partnership. The initiative aims to deepen collaboration in renewable energy, liquefied petroleum gas (LPG), uranium supplies and critical and emerging technologies.

Complementary Trade Profiles

India’s imports from Canada include pulses, fertilisers, newsprint, wood pulp and industrial chemicals—inputs vital to agriculture and manufacturing. In return, India exports pharmaceuticals, gems and jewellery, textiles and engineering goods, underscoring a complementary trade structure.

The latest investment data suggests that Indian firms are not only expanding commercially in Canada but are also embedding themselves more deeply in local economies through job creation, innovation and community engagement. With trade negotiations progressing and new sectors opening up, the economic partnership appears set for further expansion in the years ahead.