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

Ocean “Blob” returns to North Coast of B.C.

A 2,000 kilometre patch of warm ocean water could signal a warm winter in Prince Rupert

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

10 things still illegal in the new age of recreational cannabis

Pot is legal – but there are still a lot of rules, and breaking some could leave you in jail

CCRD Candidates detail their election platforms

More candidate profiles to come….

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

B.C. passenger caught smoking weed in a car issued $230 fine

Saanich police did a field sobriety test on the driver and deemed it safe for him to drive

Payette invites critics to ‘come and spend a few days’ with her

Governor General Julie Payette made her first official to B.C. back in March

More pot stores expected in B.C. in coming ‘weeks and months’: attorney general

Attorney General David Eby and Public Safety Minister Mike Farnworth visited the new BC Cannabis Store in the province’s Interior

Telus launches charitable foundation to help vulnerable youth

The Telus Friendly Future Foundation complements other social initiatives by the company, including Mobility for Good

Police say suspicious death of B.C. artist ruled a homicide

Patrick Zube Aylward’s body was found in a residence on a rural road outside of Seton Portage, west of Lillooet, B.C.

Temporary roads being built in areas affected by landslide in northern B.C.

Emergency Management BC news release says Disaster Financial Assistance is available to eligible residents of the Peace River Regional District who may have been affected by the landslides

B.C. tickets win big in Lotto Max draw

Jackpot carried over; B.C. tickets share Max Millions prizes

Most Read