New Delhi, Aug 26: Union Finance and Corporate Affairs Minister Nirmala Sitharaman has invited Canadian investors and businesses to increase their participation in India’s economic growth, highlighting opportunities across banking, insurance, fintech, semiconductors, rare earths and other emerging sectors.
Speaking to the Indian diaspora and members of the Canadian business community in Toronto, Sitharaman highlighted India’s large consumer market, growing purchasing power and rising demand as key factors supporting its investment potential.
She said India’s banking and financial services sectors continue to attract international interest. The country’s banking system remains strong, while the expansion of non-banking financial companies is creating additional opportunities for global investors.
GIFT City was also highlighted as an important gateway for international financial activity. The International Financial Services Centre has attracted several foreign banks and financial institutions and is being developed as a platform for cross-border financial services.
The government is also seeking greater foreign participation in India’s insurance sector. With 100 per cent foreign direct investment now permitted in insurance, international companies have greater scope to enter and expand in the Indian market.
India’s fintech sector is another area offering significant opportunities. The country’s large-scale adoption of digital financial services has created an ecosystem that can support further investment and innovation.
Sitharaman also identified semiconductors, magnets and rare earths as sectors with strong long-term potential. Growing global demand for critical materials and more diversified supply chains could create opportunities for Canadian companies to establish or expand operations in India.
India’s expanding manufacturing capabilities and large domestic market could also make the country an attractive base for companies looking to build reliable and cost-effective supply chains.
The Finance Minister encouraged Canadian institutional investors, businesses and companies involved in critical minerals to explore opportunities in India and strengthen their engagement with the country’s growing economy.
The government expects stronger investment ties between India and Canada to create new opportunities for businesses while supporting India’s efforts to attract global capital, strengthen strategic industries and expand its role in international supply chains.