Canada and India have developed a robust economic relationship across borders. Canadian companies have successfully entered the Indian market, contributing to India’s economic growth and strengthening bilateral ties between the two nations. This collaborative effort has resulted in various Canadian businesses establishing their presence in India across diverse industries, including information technology, manufacturing, healthcare, energy and more.
Business landscape in India
India’s business landscape is a dynamic mix of IT services, manufacturing, agriculture, retail, pharmaceuticals and renewable energy. It boasts a thriving startup ecosystem, expanding healthcare and robust infrastructure development. India’s financial services sector, mobile technology and education contribute significantly to its economy. With a focus on innovation and sustainability, India continues to attract global investments, cementing its role as a major player in the global business arena.
List of top canadian companies in India
Apotex Pharmachem
- Industry: Pharmaceutical
- Company Type: Private
- Location: Headquarters in Brantford, Ontario, Canada, with global facilities in India, Canada, Mexico, and China.
- Founded in: 1974
Apotex Pharmachem is a fully integrated global organisation specialising in API (Active Pharmaceutical Ingredient) research and manufacturing. It is one of the prominent Canadian enterprises operating in India.
CGI Information Systems & Management Consultants
- Industry: Information Technology and Services
- Company Type: Private Limited
- Locations: Offices in Hyderabad, Chennai, Bangalore and Mumbai
- Founded in: 1991
CGI Information Systems & Management Consultants provides extensive services encompassing application services, business consulting, IT outsourcing, infrastructure management, system integration, cybersecurity, cloud computing, hybrid IT solutions, intelligent automation, and DevOps. Notably, it ranks among the leading Canadian enterprises operating in India.
Sun Life Financial Inc.
- Industry: Financial Services
- Company Type: Insurance and Financial Services Provider
- Location: Global operations with a significant presence in India
- Founded in: 1994
Sun Life Financial Inc. is a prominent player in the financial services industry, holding a 49% stake in the life insurance joint venture, Aditya Birla Sun Life Insurance, founded in 1994. This joint venture was established with the global conglomerate Aditya Birla Nuvo Limited.
CPP Investment Board
- Industry: Financial Services
- Company Type: Investment Management
- Location: Headquarters in Toronto, with an office in Mumbai
- Founded in: 2016
Canada Pension Plan Investment Board (CPPIB) is a renowned player in the financial services industry, with its headquarters situated in Toronto. It expanded its global footprint by establishing an office in Mumbai in 2016, one of its eight international offices.
McCain Foods India
- Industry: Food Processing
- Company Location: Headquarters in Florenceville, New Brunswick, Canada, with facilities in India
- Founded in: 1998
McCain, headquartered in Florenceville, New Brunswick, Canada, is a prominent player in the production of French fries and potato-based specialties. Renowned as a global leader in the frozen food industry, the company has been a wholly-owned subsidiary of McCain Foods Ltd in Canada since 1998.
IBI Group
- Industry: Architecture and Infrastructure Design
- Location: IBI Group operates globally, with multiple offices worldwide.
IBI Group specialises in the design of high-rise buildings, industrial facilities, schools, hospitals and various infrastructure projects for integrated cities. The company has actively participated in several smart city initiatives in India, including the notable Bhubaneswar smart city project.
British Columbia Investment Management Corporation (BCI)
- Industry: Financial services
- Location: Based in British Columbia, Canada.
BCI ranks among the largest asset management firms in Canada. Notably, it initiated its inaugural direct physical investment in India, partnering with co-investors in the Tower Infrastructure Investment Trust, which holds assets related to Reliance Jio.
Magna International Inc
- Industry: Automotive and Mobility Technology
- Location: Headquartered in Canada, with operations in 28 countries across 5 continents.
- Founded in:1957
Magna International Inc. is a Canadian company specialising in automotive parts and mobility technology. Its global reach spans 28 countries across five continents. Magna has a robust presence in India with 13 manufacturing and assembly facilities, employing over 7,000 individuals.
Bank of Nova Scotia
- Industry: Banking and Financial Services
- Location: Headquartered in Toronto, Ontario, Canada.
- Founded in: 1832
The Bank of Nova Scotia, founded in 1832 in Halifax, is a prominent player in the banking and financial services industry. It holds membership in the London Bullion Market Association and is among the select group of five banks participating in the London gold fixing.
Brookfield Asset Management
- Industry: Alternative Asset Management
- Location: Headquartered in Toronto, Canada
- Founded in: 1899
Based in Toronto, Canada, Brookfield Asset Management Inc. is a prominent alternative asset management company focusing strategically on real estate, renewable power, infrastructure and private equity investments. In the Indian market, Brookfield is one of the largest private investors, boasting an impressive infrastructure and real estate portfolio.
Lea Associates South Asia
- Industry: Construction, Infrastructure, Coworking, Consulting
- Company Type: MNC
- Location: Mohan Cooperative Industrial Estate, Mathura Road, New Delhi Delhi -110044
- Founded in: 1993
Lea Associates South Asia is a part of the LEA Group, Canada. It’s a leading consulting firm specialising in engineering and planning, with expertise in various sectors, including roads and highways, urban development and planning, traffic, transportation engineering and planning, water resources, and more. With a presence in India, Africa, South Asia, South East Asia and the Middle East, LEA is known for its quality services and commitment to infrastructure development.
Thomson Reuters India
- Industry: Advertising, Media
- Company Type: MNC
- Location: Nicholas Piramal Tower, ‘B’ Wing, Peninsula Corporate Park, Lower Parel (West), Mumbai Maharashtra – 400013
- Founded in: 1994
Thomson Reuters is critical in the corporate enterprise, financial risk, government and legal sectors. It combines industry expertise with technology to deliver essential information to professionals in India and neighbouring countries. Providing required information to law, tax, compliance, government and media professionals, Thomson Reuters combines industry expertise with innovative technology.
Air Canada (RL Group)
- Industry: Airlines, Aviation, Defence, Drone
- Company Type: MNC
- Location: Ansal Bhawan, New Delhi, Delhi -110001
- Founded in: 1937
Air Canada, represented by RL Group, is a leading player in India’s aviation sector. With major hubs at prominent international airports like Calgary, Montréal, Vancouver and Toronto, Air Canada has significantly contributed to the growth of India’s airline industry. RL Group’s expertise in managing airlines has reinforced Air Canada’s position in the Indian market, making it an integral part of the nation’s aviation landscape.
OMERS
- Industry: BFSI, Fintech
- Company Type: MNC
- Founded in: 1962
Ontario Municipal Employees Retirement System (OMERS) is one of Canada’s largest defined benefit pension funds. OMERS Infrastructure has invested in India’s toll road assets and solar power, further strengthening the relationship between Canada and India in the financial sector.
Ontario Teachers’ Pension Plan
- Industry: BFSI, Fintech
- Company Type: MNC
- Location: Maker Maxity, Bandra Kurla Complex, Bandra (E), Mumbai – 400051
- Founded in: 1990
Ontario Teachers’ Pension Plan is Canada’s largest privately-owned pension fund. It contributes to India’s economic growth via investments in India across sectors, including infrastructure, financial services and e-commerce. Its commitment to the Indian market is evident through its office in Mumbai and its substantial portfolio of investments in the country.
Fairfax Financial Holdings
- Industry: BFSI, Fintech
- Company Type: MNC
- Founded in: 2014
Fairfax Financial Holdings is a financial holding company based in Toronto, Ontario, engaged in property, casualty insurance, investment management and insurance claims management. It has invested in various businesses in India, including IIFL Holdings, Fairchem Specialty and more.
Commercial real estate demand in India
The demand for commercial real estate, specifically for office space and rental properties, has recently experienced notable shifts driven by various factors.
Office space demand: India’s office space demand has traditionally been robust, with major cities like Mumbai, Delhi and Bengaluru at the forefront. The country’s thriving IT and outsourcing industries have consistently driven this demand.
Rental property demand and impact: The demand for rental properties in India extends beyond commercial spaces to residential sectors.
Housing in India profoundly impacts various facets of society. It influences economic growth by generating employment in the construction sector. Adequate housing also plays a crucial role in improving living standards and overall quality of life. However, challenges like affordable housing shortages and urban overcrowding persist. These issues impact infrastructure, public health and environmental sustainability. Effective housing policies and sustainable urban planning are essential to mitigate these challenges and ensure a positive impact on India’s development.
FAQs
How many Canadian companies operate in India?
India hosts over 600 Canadian companies, with 1,000 Canadian enterprises actively engaged in business endeavours within the Indian market.
Is working for a Canadian company while residing in India possible?
Yes, you can work for a Canadian company while residing outside Canada, such as in India. In this scenario, you are not subject to Canadian Immigration Law, so you are not obligated to pay taxes in Canada.
Are there any trade collaborations between Canada and India involving these companies?
Canada and India engage in bilateral trade and investment, and Canadian companies often foster these collaborations.
Can I work remotely for a Canadian company in India?
Many Canadian companies offer remote work opportunities, allowing individuals to work for them from India or other locations outside Canada.
What benefits do Canadian companies in India provide to their employees?
Employee benefits may vary, but Canadian companies often offer competitive salary packages, healthcare and career development opportunities to their staff.
Are there any networking events or associations for employees of Canadian companies in India?
Some Canadian business associations and chambers of commerce in India organise networking events for employees to connect and collaborate.
How can I stay updated about job openings with Canadian companies in India?
To stay informed about job openings, it's advisable to regularly check the official websites of these companies, job boards and LinkedIn.
Are there any tax implications for Indian employees working for Canadian companies in India?
Tax implications can vary depending on the individual's tax status and the specific arrangement with the company. It Is advisable to consult a tax professional for guidance in such cases.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
