Government sources have indicated that there's no reason for Canadian Pension Funds to back out from India due to the current diplomatic standoff between both the countries.

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On the condition of anonymity, a government official said that the investments have been made by Canadian pension funds in Indian infrastructure for higher returns as they can't get such returns anywhere else. Stating that the no immediate impact is expected on Indian investments in Canada for now, the official added that Canada currently ranks 9th or 10th in terms of the total FDI (Foreign Direct Investment) in India.

CNBC-TV18 has earlier reported that the Canadian Pension Plan Investment Board (CPPIB) has made several investments in India both in listed as well as unlisted companies. As per recent filings, those investments totalled to over Rs 1 lakh crore.

Canada accounts for one of the largest Indian diasporas in the world. People of Indian Origin (PIO) account for three percent of Canada's population. The country has 1.6 million Indian origin residents and more than 7,00,000 Non-Resident Indian (NRI's).

Also Read:As India-Canada ties hit a new low, here's a look at deep linkages between the two nations

First Published:Sept 21, 2023 10:34 PM IST