Prime Minister Justin Trudeau meets with CEO of Infosys Salil Parekh in Mumbai, India on Tuesday, Feb. 20, 2018. Some of India’s biggest companies say they will invest more than $1 billion in Canada in the coming years in everything from pulp mills to pharmaceuticals and the IT sector.THE CANADIAN PRESS/Sean Kilpatrick

Trudeau announces two-way $1 billion investment deal with India

Some of India’s biggest companies to invest more than $250 million in Canada in the coming years

Some of India’s biggest companies say they will invest more than $250 million in Canada in the coming years in everything from pulp mills to pharmaceuticals and the IT sector.

Canada, meanwhile, will invest $750 million in India.

The news came after Prime Minister Justin Trudeau spent his third morning in India meeting with six of this country’s most influential business tycoons making deals that he says will create at least 5,000 new jobs in Canada.

All of them say Canada is a welcome place to do business and their experiences so far have left them wanting more.

Related: Trudeau family arrives in India for state visit

Kumar Birla, the chairman of Indian conglomerate Aditya Birla Group and the country’s eighth wealthiest person, says the business friendliness of the federal and provincial governments in Canada makes for happy investors who will always come back looking for more.

He says his company — which is largely focused on the natural resources sector and already owns pulp mills in Ontario and New Brunswick — has three business expansions planned in Canada in fibre, carbon black and rolled aluminum products.

Salil Parekh, CEO of the IT consulting company Infosys, says their presence in Canada will double in the next two years while the pharmaceutical company Jubilant Bhartia says it plans to invest more than $100 million more in Canada in the next five years.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Johnny 2 Fingers and the Deformities play The Vat April 27th

Moose Jaw band is on a 39-day national tour from Quebec City to Vancouver

Council highlights

Council to fund Rimbey Boys and Girls Club for $15,000

WATCH: Second annual Our Best To You Craft Sale on now

Red Deerians can expect over 150 artisans, makers and designers

Red Deer RCMP look for James Holley on warrants

Holley is believed to be in possession of firearms

‘Battle of the Badges’ charity hockey game raises funds for Humboldt Broncos

Red Deer Emergency Services and RCMP will play hockey for a good cause

WATCH: ‘Battle of the Badges’ event raises money for Humboldt Broncos

Red Deerians get together at charity hockey tournament April 20th at Servus Arena

Austin Powers ‘Mini-Me’, Verne Troyer, dies at 49

Facebook page confirmed his death Saturday afternoon

Alberta man dead after snowmobile collision on B.C. mountain

The incident occurred on Boulder Mountain Friday morning

Speed Skating Canada fires coach Michael Crowe after investigation

Crowe was a coach on the American team from 1983 to 1991 and again from 1999 to 2006

5 things to know about the ongoing influx of asylum seekers in Canada

Number of illegal border crossings are up this year – as RCMP, military, politicians try to combat

Producer, DJ Avicii found dead at 28

Swedish-born artist Tim Bergling, was found in Muscat, Oman

Trudeau ends 3-country tour with global reputation, alliances intact

Prime Minister Justin Trudeau finds footing on the world stage after China and India controversies

Leafs’ Matthews has top-selling jersey, edging Crosby, McDavid: NHL

Austin Matthews jersey sales top Pittsburgh Penguins’ Sidney Crosby, Edmonton Oilers’ Connor McDavid

Victims grant may miss needy parents due to eligibility rules: report

Only 29 of 50 applicants between 2013 and 2017 received the grant across Canada, a federal report says

Most Read