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Two Indian firms to participate in inaugural Canada Investment Summit
The summit will be hosted by Prime Minister Mark Carney in Toronto next week. It is part of an “ambitious plan to catalyse US$ 724 billion in total investment in Canada over the next five years”
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Toronto: At least two Indian firms will participate in the inaugural Canada Investment Summit which will be hosted by Prime Minister Mark Carney in Toronto next week.
The two that are expected as this time are the public sector National Investment and Infrastructure Fund Limited and a private sector entity.
India’s consul general to Toronto Mahaveer Singhvi told the Hindustan Times on Wednesday there may be additional participants from India, but those have to be confirmed.
“They’re coming here, so obviously they have some interest,” he said of their participation at the summit which is aimed at drawing global capital to Canada amid the ongoing trade war with the United States.
Singhvi also said that as the bilateral relationship has been renewed, it has made such interest possible.
He expected such an initiative from Indian investors the further cement ties. “It’s a two-way process. We also require investment, they also require investment. Those who are interested a getting together. It works for both of us,” he said.
The summit was announced by Carney is April this year, and it will be held on September 14 and 15.
Carney said, “Canada has what the world wants. We’re an energy superpower, with the most educated workforce in the world and rock-solid fiscal strength. The first-ever Canada Investment Summit will capitalise on those advantages to help drive billions in new investments into Canada. That means more growth for our businesses, more high-paying career opportunities, and a stronger, more independent Canadian economy for all.”
He will host the summit in partnership with Canada Pension Plan Investment Board and Public Sector Pension Investment Board, two of Canada’s largest institutional investors.
It is part of an “ambitious plan to catalyse CA$1 trillion (US$724 billion) in total investment in Canada over the next five years,” according to the Canadian prime minister’s office.
It will “convene the world’s largest investors, including top CEOs, entrepreneurs, and prominent global business leaders”, it said.
According to the outlet news Globe and Mail, a prospectus for attendees has over 160 projects open for investment, including in infrastructure.
Despite the rhetoric targeting Canada coming from US President Donald Trump, over 30 American investors are expected to attend, forming the largest national contingent, according to the outlet CTV News.
