Why in the news ?
- Canada’s biggest public pension scheme sees India as its main focus for investment in Asia as the country pours money into infrastructure development.
More on news
- Canada Pension Plan Investment Board (CPPIB) is looking for opportunities to invest in Indian infrastructure, power and real estate projects.
- 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.
- CPPIB said that India is our focus market in Asia Pacific as a long-term investor.
- Some of CPPIB’s recent deals have been with private sector lender Kotak Mahindra Bank and real estate developer Phoenix Mills Ltd.
- “We’re going to continue to expand our real estate, power, renewable and infrastructure investments,” it said.
- The fund would also be interested in the consumer sector.
- CPPIB currently owns shares in some leading fast moving consumer goods companies like ITC Ltd, Hindustan Unilever Ltd and Britannia Industries Ltd.
- The fund also expects more deals with logistics platform IndoSpace Core, its joint venture with Indian property developer IndoSpace.
Source
The Hindu