Capital investments from Canada into India have grown in the past few years despite various issues and controversies between the two countries. Canadian investments reached $57 billion in the year 2024, with half of them coming in the 2018-24 period. In the first quarter of 2024, Canadian FDI into India reached $7.7 billion which is more than double of $3.3 received in the year 2023. There are over 600 Canadian companies operating across numerous sectors in India, including IT, manufacturing, healthcare, finance, energy and infrastructure development. The Indo-Canadian Business Chamber is actively involved in taking steps to promote mutual business interests between India and Canada, and also enhance bilateral partnership between the two countries. Even though Canada is not among the top investors in Indian economy, its companies are expanding their operations in India. Let’s have a look at the top 10 Canadian companies in India for the year 2025.
1. Apotex Pharmachem
Apotex Pharmacem, founded in the year 1974, is a Canadian multinational pharmaceutical company engaged in the manufacturing of generic medicines, biosimilar and branded pharmaceuticals, and consumer health products. The company entered India in the year 2003 with the establishment of its subsidiary, Apotex Pharmachem India Private Limited. AP India is engaged in the manufacturing of pharmaceutical products for multiple health conditions like diabetes, gastrointestinal problems, cardiovascular diseases, viral diseases and more.
Apotex Pharmachem India manufactures finished doses and active pharmaceutical ingredients or APIs. Its facilities are located in Bangalore and Mumbai.
2. Sunlife Financial Inc.
Sunlife Financial Inc., established in the year 1865, is a Canadian multinational financial services company specialising in insurance, financial planning, asset management, retirement savings, mutual funds and more. The company holds 49% stake in its joint venture with the Indian corporate house Aditya Birla Group, named Aditya Birla Sunlife Insurance Company Limited, founded in the year 2000.
ABSLI provides a wide range of services, including unit-linked insurance plans, wealth protection plans, health insurance, retirement and pension solutions, children future plans and more. The company has more than 340 branches across India and over 49,000 direct selling agents and brokers.
3. Air Canada
Air Canada, founded in the year 1937, is the largest airline of Canada in terms of both passengers carried and size of operations. The airline entered India in the year 2004 with the launch of its flight operations between New Delhi and Toronto. Over the years, Air Canada has expanded its routes and increased its flight frequency in India. Currently, it is operating in multiple routes like Delhi-Toronto, Ahmedabad-Vancouver, Kolkata-Toronto and more.
Air Canada halted its India operations in the year 2007 but restarted the same in the year 2015. In October 2024, Air Canada introduced daily flights from Delhi to Western Canada via London Heathrow.
4. CGI Inc.
CGI Inc., founded in the year 1976, is a Canadian multinational company specialising in IT and business consulting and outsourcing services alongside software development. The company entered India in the year 1996 with the establishment of its first office in Bangalore. CGI India provides a number of services and solutions, including IT outsourcing, business consulting, business process services, systems integration, business application development, enterprise resource planning platforms and payment integrity services.
CGI India has multiple global delivery centres in the country. They are located in Bangalore, Mumbai, Pune, Hyderabad and Chennai.
5. McCain Foods Limited
McCain Foods Limited, founded in the year 1957, is a Canadian multinational frozen food manufacturer specialising in French fries, appetizers, oven meals and potato specialties. The company is operating in India since the year 1998 through its subsidiary, McCain Foods India. McCain Foods India has launched multiple products in the Indian market, including aloo tikki, fries, smiles, mini cheese samosas, veggie fingers and cheese bites.
McCain Foods India operates a production plant located at Mehsana in Gujarat. The company is known for using locally grown potatoes for its products.
6. Canada Pension Plan Investment Board
Canada Pension Plan Investment Board, established in the year 1997, is a Canadian state-owned enterprise which oversees and invests the funds on behalf of 18 million contributors and beneficiaries of the Canada Pension Plan. CPPIB has been investing in India since the year 2010 and opened its first India office in Mumbai in the year 2015.
CPPIB invests across sectors in India, including infrastructure, real estate and financial services. It holds shares in multiple Indian companies like Kotak Mahindra, L&T Infrastructure, Piramal Enterprises and more.
7. IBI Group Inc.
IBI Group Inc., established in the year 1974, is a Canadian architecture, engineering, planning, consulting and technology firm with a presence in 12 countries worldwide. The company entered India in the year 2006 with the establishment of its subsidiary, IBI Group India Private Limited. IBI Group India provides infrastructure planning and execution services alongside technical consultancy. It operates through an office located in Gurgaon, Haryana.
8. Thomson Reuters
Thomson Reuters, founded in the year 2008 with the merger of Reuters Group and Thomson Corporation, is a Canadian multinational information and technology company specialising in news, data and analytics for businesses and professionals across sectors. The company has been present in India since the year 1851 when Reuters Group opened its office in Mumbai. Thomson Reuters provides news from India to media houses all over the world and also offers specialised tools and information services for diverse fields, including law, taxation and accounting.
9. Scotia Bank
Scotia Bank, established in the year 1832, is a Canadian multinational banking and financial services company and one the five largest banks in Canada. The bank entered India in the year 1983 with the establishment of a representative office in Mumbai. Scotia Bank provides a broad range of services in India, including corporate banking, personal banking, foreign exchange, trade finance and investment banking. It has branches in Mumbai, Delhi and Bangalore.
10. LEA Group
LEA Group, founded in the year 1953, is a Canadian multinational firm providing consulting and advisory services on global infrastructure projects like roads, buildings, highways and transit infrastructure. The firm’s subsidiary, LEA Associates South Asia Private Limited, established in the year 1993, is based in India but also the hub of operations for Asia, Africa and Middle East. LEA India provides consulting services for infrastructure development projects and has also worked in projects funded by international agencies like World Bank and Asian Development Bank.
Conclusion
Top Canadian companies are playing an important role in the Indian economy by bringing in capital investments and generating employment. With more innovations and expansions, Canadian companies are set to improve their standings in India.