Canada eyes wider Indian investment after IDBI Bank stake deal, minister says

what happened

Canadian trade minister Maninder Sidhu told ANI in an exclusive interview that Ottawa sees considerable room to expand its investment in India. He said Canada has already put close to USD 107 billion into the Indian economy, with infrastructure, aviation, energy and critical minerals among the priority sectors.

Sidhu praised Fairfax Financial Holdings and Prem Watsa for their work building airports in India. He noted that India plans to add 100 airports and needs around 2,000 more aircraft, areas where Canada's aerospace industry and energy expertise could contribute. He also pointed to Canadian pension funds taking part in infrastructure projects, including highways.

The remarks follow Wednesday's cabinet approval of a plan that pairs a strategic sale of IDBI Bank to Fairfax with a reorganisation of the lender, valued at Rs 52,878 crore. Under the proposed transaction, LIC would reduce its holding in the bank to 19 per cent. The report was distributed by ANI via HT Digital Content Services.

why it matters

For markets, the deal signals continued foreign interest in Indian banking and infrastructure assets, as well as ongoing disinvestment efforts in the banking sector. The report does not detail financial effects beyond the stated valuation and LIC's planned stake level.

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