During his week-long visit to India in February, Canadian Prime Minister Justin Trudeau met six of the country’s most influential business people, making deals that he said will create more than 5,800 new jobs in Canada.
Some of India’s biggest companies have said that they will invest more than $250 million in Canada, in everything from pulp mills to pharmaceuticals and the IT sector, while Canadian companies plan to invest $750 million in India. More than half the $750 million Canadian investment in India comes from Toronto’s Brookfield Asset Management, while another $200 million comes from Fairfax India Holdings Corp. of Canada.
Jubilant Life Sciences, India, will spend $100 million to expand its existing facility in Kirkland, Quebec, which manufactures medical devices. India’s Birla Group — which already owns pulp mills in Ontario and New Brunswick — has plans to expand in fiber, carbon black, and aluminum products. Other investments from India include a new operation in Canada from telecom equipment manufacturer Valiant Communications, a Canadian manufacturing facility to produce natural health products by Clarion Pharmaceutical, and an Ontario operation for Vision Controls, which works on automation.
