Indian Companies in Canada
The first survey edition of this report found that the aggregate amount of tangible investments made by Indian companies in Canada exceeds CAD 6.6 billion.
The investments made since inception reflect capital expenditure which includes real estate, fixed assets, machinery and technology, as well as mergers and acquisition activity.
While most companies show a single entity presence in the country, several technology and pharmaceutical companies reported having a number of subsidiaries to maximize investment impact and enhance proximity to their customer base.
The sample size of almost 30 Indian companies that reported into the survey only points to a much higher investment amount on the ground, as the estimated number of Indian headquartered-companies present in Canada is close to 75-80.
The collective sum of jobs created by Indian companies who responded to the survey is over 17,000, which includes both full-time and part-time hires. Indian investment generates employment throughout most of the country – in 8 out of the 10 provinces in Canada.
Another point to be noted is that the survey reports only direct employment figures, and does not extrapolate the additional employment and opportunities created by Indian investment. It is important to acknowledge the amplifying effect of indirect employment for which Indian Industry is responsible through supporting industries and ancillary services.
The substantial diversification of industry sectors in which Indian companies are engaged in Canada is well-demonstrated in the survey results.
Technology Services lead the charge with 32% of the companies operating in the ICT and Telecom sectors.
Manufacturing and Engineering as well as Life Sciences, Pharmaceuticals and Healthcare are a close second, with a near-equal distribution.
Other represented sectors include Financial Services, Food & Retail, and Energy and others.
"While trade and investment partnership between India and Canada has continued to grow, the story of Indian companies in Canada and their economic impact is yet to be told. Today, Indian companies across Canada are expanding their investments, creating jobs, funding local research and development initiatives, and supporting their adopted communities through corporate social responsibility programs that CII is pleased to document in the first edition of this survey report: From India to Canada: Economic Impact and Engagement.
It is our intention that this inaugural report will begin a legacy of documenting the increasing strength and impact of Indian Industry within the India-Canada partnership, which will help push the relationship towards faster growth through a data-based approach. CII is grateful to our membership and partners who have supported this flagship document and stand together in our dedication to expanding bilateral ties. As India’s business footprint grows in Canada, our economic collaboration will lead to a stronger, more integrated strategic and comprehensive partnership."
-Chandrajit Banerjee, Director General, CII
Remarks from Victor Thomas, President and CEO
It is clear Canada and India have enormous potential for deeper economic ties. Recently, Canada has come out with an Indo-Pacific strategy and we believe significant engagement with India is critical to its success. Private companies of both countries have the opportunity to increase bilateral relations across sectors which will foster long term prosperity. With recent geopolitical changes, the time to significantly strengthen the Canada-India economic corridor is now.
The report From India to Canada: Economic Impact and Engagement serves as an important document as it is the first to capture the growing presence of Indian businesses in Canada. Hopefully this will be a baseline of what is possible for the future. We were privileged to partner on this special report.
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