New Delhi, August 26 (IANS). Union Minister of Finance and Corporate Affairs Nirmala Sitharaman invited Canadian investors to partner in India's growth journey. During this, he told the investors about the investment opportunities available in the country in banking, insurance, fintech, semiconductor, rare earth elements and other emerging sectors.
Addressing a welcome ceremony for the Indian expatriate business community in Toronto, the Finance Minister said India's scheduled commercial banks are in a strong position and there is significant investment in the banking sector.
India's financial sector, especially banking and NBFCs, is attracting international investment, the Finance Minister said in a post on social media platform X.
The Finance Minister said India's International Financial Services Center (IFSC) GIFT City has already attracted many foreign banks and there is ample scope for more international financial institutions to set up their business here.
“The Indian government has a commitment that we want Canadian investors to come to India and establish greater engagement with India,” he said.
The Finance Minister cited India's large population, purchasing power, consumption and demand as key factors that make the country an attractive destination for investment.
In another ex-post, the Finance Minister said that India is creating new avenues for international capital through GIFT City, which is emerging as a global platform for international financial institutions.
He said the regulatory and tax framework of GIFT City is specifically designed to facilitate cross-border financial activities.
Additionally, 100 percent foreign direct investment (FDI) is now allowed in the insurance sector. According to the Finance Minister, India's leadership in the large-scale fintech sector is creating significant opportunities for global capital.
The Finance Minister also cited emerging sectors such as semiconductors, magnets and rare earth elements as areas with significant potential for Canadian investors.
“India can also provide reliable and cost-effective supply chain options for global markets,” he said.
According to the Finance Minister, these opportunities for Canadian institutional investors are not limited to just participating in India's growth journey, but they can also use India as a platform for broader regional and global financial activities.
–IANS
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