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

Niek Theelen continues to build his comedian career

Engaging performer is a popular draw across the region

‘Flipping Amazing’ Pancake Breakfast welcomes 6,000 Central Albertans

Westerner Days is, unofficially, underway after Bower Place held their annual Pancake Breakfast.

RCMP execute search warrant at Syndicate Motorcycle Club Red Deer clubhouse

Four people face charges including kidnapping, forcible confinement and drug charges

Greyhound closure will affect approximately 380,000 passengers in Alberta

Red Deer cerebral palsy relied on the bus for medical appointments

France doubles up Croatia 4-2 to win World Cup

Played in Moscow Russia, latest Fifa World Cup marks the highest scoring final since 1966

Angry giant baby Trump balloon makes him feel ‘unwelcome’ in London

Trump told The Sun newspaper that he felt unwelcome in London because of protests, including a giant balloon that was being flown over Parliament on Friday.

Former NHL goalie Ray Emery drowns in Lake Ontario

Police say the 35-year-old’s death appears to be a ‘case of misadventure’

Pussy Riot claims on-field protest at World Cup final

Russian protest group claimed responsibility after four people ran onto field in police uniforms

Fans party on Montreal streets after French World Cup win

To city is home to nearly 57,000 French nationals

Almost every part of Canada’s largest national park deteriorating: federal study

Drawing on decades of research — the report lists 50 pages of citations

Canadian soccer fans brace for World Cup final between France, Croatia

First ever final for the Croatians, while it’s France’s third, going into match as betting favourite

Belgium finishes 3rd at World Cup, beats England 2-0

France and Croatia will play in the final on Sunday at the Luzhniki Stadium in Moscow

Police arrest Indigenous pipeline protester occupying B.C. park

Led by Kanahus Manuel, the Tiny House Warriors moved into park in Clearwater last week

MONEY MONITOR: Key steps to getting out of credit card debt

B.C. residents carry the third-highest amount of credit card debt in Canada

Most Read