By Accommodation Times News Services
Canada has announced that they are very much keen in investing in India’s urban development and infrastructure projects, for the same they are planning to invest their pension funds and want to open an office in Mumbai by next month to operate the investments.
High Commissioner of Canada Nadir Patel at a meeting with Urban Development Minister M Venkaiah Naidu informed the minister about their plans. He also informed that his government is thinking of entering into a Bilateral Investment Policy Agreement with India.
Patel said that Canadian government has about USD 750 billion of pension fund and is looking at huge investment opportunities now available in India in the context of new urban sector initiatives and stress on infrastructure development, according to a UD Ministry official.
He informed Naidu that urban initiatives like Smart City Mission, Atal Mission, Housing Mission top the agenda of his discussions with business leaders and investors. Patel also said that with three of the world’s top five smart cities in Canada, his country has vast experience of building smart cities which could be shared with the states and urban local bodies in India.
Canada also has successfully implemented public-private- partnership projects with a separate organisation ‘PPP Canada’ and Indian authorities could also benefit from this, he said.