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

Fraser Institute school evaluation report criticized

Central Okanagan School District says school assessment test results flawed

Teaching children how to feel empathy for others

Roots of Empathy program mission gains foothold in Central Okanagan schools

TSB findings on plane crash that killed former Alberta Premier Jim Prentice today

The TSB will announce its findings and the Capital News will follow.

Suspicious fire in West Kelowna

A fire that was of suspicious origin was started and was put out quickly

Pizza places help make dreams come true

The fourth annual Papa John’s Dreams for Kids Day is held today in Kelowna and West Kelowna

Toronto sports fans come together in wake of van attack

Police probe Toronto van attack as details emerge

Prince William to be Harry’s best man

Prince William will be Prince Harry’s best man at May wedding

Humboldt arena memorial ring to be removed

Arena ring of tribute to Saskatchewan hockey team to be removed as summer nears

14 galaxies set to collide and form colossal cluster

Astronomers say this could be the largest structures in the universe

Former Social Credit MLA dies at 88

Lyall Hanson was mayor of Vernon in 1981 and moved to provincial politics from 1986-96

Ailing health care biggest hurdle for Okanagan jail

PART SIX: Inmates reportedly wait weeks for broken bones to be seen, challenges with maintaining medical staff

Police searching for escaped prisoner in B.C.

Ralph Whitfield Morris, 83, is serving a life sentence for second-degree murder

B.C. set to introduce pot laws, but years of fine tuning likely: minister

Legislation regulating recreational marijuana is expected to be introduced Thursday

Most Read