Canadian and Indian companies ink deals worth $1B during Trudeau's trade trip

February 21, 2018

Canadian and Indian companies have signed 66 new contracts worth $1 billion in total in a deal expected to create 5,800 jobs in Canada.

Prime Minister Justin Trudeau made the announcement Tuesday in front of an audience at the Canada-India Business Forum.

He spent the morning in Mumbai, India's financial capital, meeting with titans of industry and finance at the Taj Mahal Palace Hotel, scene of a deadly terror attack 10 years ago.

Most of the jobs will come from $250 million in new investments by Indian companies in Canada. Canadian companies will also invest $750 million in India. The lion's share of that Canadian investment is Brookfield's acquisition of a Mumbai office complex currently owned by an insolvent Indian company.

This was excerpted from the 20 February 2018 edition of CBC News.

Topic(s)

Exports

International Trade and Border Management

Information source

Canadian News Channel

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