Canadian funds step up investments in India

Mumbai: Canadian institutions are stepping up investments in India, seeking to tap the changes under way that will sharpen the country’s competitive edge.

In the last two weeks alone, two large Canadian funds—Brookfield Asset Management and Caisse de Dépôt et Placement du Québec (CDPQ)—have announced investments worth about $2 billion in the country.In the last couple of years, the top Canadian funds have made investments worth more than $5 billion in India, according to public data. CDPQ, which set up its India office in March, announced a commitment of $150 million to renewable energy in India.Last month, CDPQ joined hands with Tata Power International Pte. Ltd, ICICI Venture, Kuwait Investment Authority (KIA) and State General Reserve Fund (SGRF) of the Sultanate of Oman, to launch a platform to facilitate investment in power projects in India with an initial capital of up to $850 million.Last week, CDPQ, the …