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Finance Minister Nirmala Sitharaman has invited Canadian investors to explore opportunities in India, describing the country as the fastest-growing major economy and highlighting its large market, sustained growth, young population, rising consumption and expanding capital markets. Speaking to members of the Indian business community in Toronto, she said India’s economic transformation was being supported by urbanisation, a growing middle class and digital infrastructure. Sitharaman also pointed to opportunities for Canadian banks, fintech firms and regulators to work with India on digital financial infrastructure, while highlighting the strengthening economic relationship between the two countries.
India offers a combination of scale, sustained economic growth, a young population, rising consumption and deepening capital markets that can attract Canadian investors with a long-term investment horizon, Finance Minister Nirmala Sitharaman said while seeking greater investment from Canadian entities.
Addressing members of the Indian business community in Toronto, Sitharaman said India’s economic transformation was structural and was being driven by rapid urbanisation, the expansion of the middle class and the development of digital infrastructure. These changes, she said, were creating opportunities across a wide range of sectors.
Sitharaman also highlighted the impact of India’s digital ecosystem on financial and commercial services. She said the country’s digital infrastructure had lowered the cost of access while allowing financial and commercial services to reach a wider population.
She pointed to the Unified Payments Interface (UPI), which by transaction volume is the world’s largest real-time payments system. According to the minister, UPI has become an important tool for financial inclusion, efficiency and innovation.
The finance minister said there was scope for greater cooperation between Indian and Canadian banks, fintech companies and regulators, extending beyond payments to the development of the next generation of digital financial infrastructure.
Sitharaman also highlighted the role of the Indian diaspora in Canada in strengthening economic ties between the two countries. She said members of the community were present across Canadian boardrooms, Bay Street trading floors and pension fund risk committees, giving them an important role in connecting the two economies.
India-Canada bilateral relations have also seen renewed engagement. Sitharaman referred to the understanding reached between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney on the sidelines of the G7 Summit in June 2025 to reset bilateral ties. She said both countries had since reaffirmed their commitment to a future-focused strategic partnership.
The relationship gained further momentum during Carney’s visit to India earlier this year. The visit formally launched negotiations for the Comprehensive Economic Partnership Agreement (CEPA), alongside a CAD 2.6 billion uranium agreement with Cameco. The two countries also adopted ‘Vasudhaiva Kutumbakam’ as the overarching framework for their renewed strategic partnership.
India and Canada have also set an ambition to more than double bilateral trade to CAD 70 billion by 2030. Sitharaman said the partnership was increasingly moving beyond capital flows towards deeper institutional engagement between the two countries.
She added that capital markets were only one part of a modern financial partnership, pointing to the wider scope for economic and financial cooperation between India and Canada.
Source PTI
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