Canada’s biggest public pension fund eyes investments in India

Vastavam web: Canada’s biggest public pension scheme sees India as its main focus for investment in Asia as the country pours money into infrastructure development. Canada Pension Plan Investment Board (CPPIB), which manages Canada’s national pension fund, has invested nearly C$7 billion ($5.30 billion) in India since entering the market a decade ago and is looking for opportunities to invest in Indian infrastructure, power and real estate projects. Indian Prime Minister Narendra Modi’s government plans to boost the economy and create more jobs by tripling public spending on infrastructure to 5.97 trillion rupees ($87 billion) in the financial year ending next March, from levels seen in 2014/15, as India heads towards elections by next May.

“We’re going to continue to expand our real estate, power, renewable and infrastructure investments,” Kim said. The fund would also be interested in the consumer sector, she said, but did not specify further. CPPIB currently owns shares in some leading fast moving consumer goods companies like ITC Ltd, Hindustan Unilever Ltd and Britannia Industries Ltd.