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

Saskia and Darrel kick off spring tour with Chilliwack concert

Stories of the Great Plains delivered in Gaelic, French and more

RCMP officer reaching out to youth about intimate partner violence

Chilliwack officer and friends of Maple Batalia team up to encourage bystanders to speak up

Sarah Wark faces do-or-die match at Scotties Tournament of Hearts

Wark’s rink will face Manitoba Thursday morning with a championship pool berth on the line.

Chilliwack Chief Kevin Wall nominated for BCHL awards

Wall is in the running for MVP and top rookie, and will find out if he’s won before the playoffs.

Permaculture group planning a seed swap

The AGM is Feb. 23 for Valley Permaculture Guild members

VIDEO: North Delta elementary school closed following stabbing that left cop, woman in serious condition

An off-duty police officer and a woman were injured outside of the school Wednesday afternoon

70% of Canadians agree with mandatory vaccines for children: poll

The debate for pro and anti vaccinations has heated up after a measles outbreak in Vancouver

VIDEO: Woman, off-duty cop in serious condition after stabbing outside B.C. elementary school

The officer was interceding in an alleged assault when he and the woman were stabbed

5 to start your day

Two people are in critical condition after stabbing, searchers recover body of missing snowshoer and more

‘A little baloney’ in PM’s claim about solicitor-client privilege on SNC-Lavalin

The Conservatives and NDP want Trudeau to waive that privilege so Wilson-Raybould can offer her side of the story

Proposed edible pot rules are wasteful, would leave products tasteless: critics

When Canada legalized weed last fall, it only allowed fresh or dried bud, oil, plants and seeds

Most Read