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Despite tensions, Canada’s investments in India going strong

17 Oct 2024

Canadian funds Caisse de Deport et Placement du Québec (CDPQ) and British Columbia Investment Management sustained their holdings in India in the past year.

Despite the geopolitical row between the two nations, Canada invested $4 billion in India between April 2000 and June 2024. Canada’s exports to India increased by 1.6% between October 2023 and August 2024. In the past five years, around one-fourth of Canada’s pension fund investments directed to Asia were invested in India, a considerable increase from 10% investments done between 2003-18.


Canada focused on India while trying to divert its focus from China. As an emerging global superpower, India holds access to several economic clubs that interest Canada.


Some Canadian funds, like the Canada Pension Plan Investment Board (CPPIB), have divested for various reasons besides geopolitics. Of the ₹45,000 crore listed equities held by CPPIB, it sold ₹8,500 crore in FY25. In June 2024, it held over a 1% stake in five listed companies in India, including Kotak Mahindra Bank, Delhivery, Nykaa, Indus Tower, Reliance Industries, Infosys, TCS, and Zomato.

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