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

Terrace Northmen earn third place in rugby provincials

The two-time reigning champs took home the bronze medals this year

Interest high for local elections in Terrace and area

City council, regional district and school district seats contested

Open burning bans lifted in northwest B.C.

Only campfires are allowed within Terrace city limits

New RCMP Inspector named for Terrace detachment

Inspector Jayson Lucash transferring in from Prince George

12 and 17-year-old Block boys take first at The Northern View Cannery Road Race

Approximately 150 people competed in 10 events after one year hiatus

B.C. tent city ‘devastated’ after flash flood

Maple Ridge mayor says that residents shouldn’t have to return to their flooded tents

Syrian family can, finally, feel safe after settling in B.C.

Anglican Church of the Holy Trinity White Rock meets sponsored family for the first time

1st private moon flight passenger to invite creative guests

The Big Falcon Rocket is scheduled to make the trip in 2023, SpaceX founder Elon Musk announced at an event Monday at its headquarters near Los Angeles.

‘Game of Thrones,’ ‘Mrs. Maisel’ triumph at Emmys

In a ceremony that started out congratulating TV academy voters for the most historically diverse field of nominees yet, the early awards all went solely to whites.

Korean leaders meet in Pyongyang for potentially tough talks

South Korean President Moon Jae-in began his third summit with North Korean leader Kim Jong Un on Tuesday.

Russia blames Israel for plane shot down by Syrian missile

A Russian reconnaissance aircraft was brought down over the Mediterranean Sea as it was returning to its home base inside Syria, killing all 15 people on board.

Vancouver park board passes motion to learn Indigenous place names

The name of Vancouver’s Stanley Park is now up for debate as the city’s park board confronts its colonial past and pursues reconciliation.

Champ golfer from Spain killed in Iowa; suspect charged

Police said Celia Barquin Arozamena was found dead Monday morning at Coldwater Golf Links in Ames, about 30 miles north of Des Moines.

Trudeau upset after meeting with Saskatchewan chiefs

Trudeau is upset about how time was managed in a recent meeting

Most Read