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

BC Nurses Union calls for decriminalization of opioids

BCNU president wants the federal government to do more to reduce preventable deaths

Pedestrian struck on Quadra Street

A pedestrian was struck by a vehicle on Quadra Street at Hulford… Continue reading

Victoria airport workers rally on Tuesday

Food service workers call for improved working conditions

Police respond after dog left in vehicle at the movies

West Shore RCMP determined the animal was not in distress

Saanich grants public hearing to senior housing proposal

Five-storey rental apartment would add 39 units near Cuthbert Holmes Park

VIDEO: Trudeau shuffles familiar faces, adds new ones to expanded cabinet

Justin Trudeau shuffles his front bench Wednesday to install the roster of ministers that will be entrusted with leading the Liberal team into next year’s election.

Wildfires erupt in B.C. Okanagan forcing evacuation orders and a highway closure

Check out a list of up-to-date information on blazes happening within the Kamloops Wildfire Centre.

‘Amazing Race Canada’ competitors face B.C. challenge

They drove Corvettes, mastered falconry basics, and ate blueberry pie in the Cowichan Valley

Grizzly bear jumps in river, chases B.C. kayaker

The bear got a bit too close for comfort along the Elaho River near Squamish

Island man convicted of 1999 sex assault at Fraser Valley music festival

James Allen Redden, formerly of Nanaimo, was found guilty of three charges

Parks Canada looks to shine light on cloudy future for historic sites

A plan is in place to produce 10-year plans designed to turn around sagging attendance figures

B.C. poet shines a bright light on struggle with homelessness

Book launch for John La Greca’s Homeless Memorial is at Vernon’s Gallery Vertigo July 21.

Former Vike returns to lead women’s rowing program

Williams rowed for UVic, Oxford and Canada

Ontario police say attack on Muslim man was motivated by hate

Two men, aged 27 and 19, have been charged with assault in the incident

Most Read