India-Canada news: Canada Pension fund investment stood at $21 billion in about 70 listed stocks in 2022
Hardeep Singh Nijjar, a pro-Khalistan leader in Canada, followed by the expulsion of diplomats, experts think it will have very little impact on Canadian investment in India and the overall market sentiment. Concerns have been growing that the fresh tensions in the India-Canada relationship will see some outflow as Canada Pension Plan Investment Board, the largest pension manager in Canada, has significant holdings in some of the Indian companies.
Canada Pension Plan Investment Board disclosed an investment of $21 billion ( ₹1.74 lakh crore) in India about a year ago. Major holdings include a stake in Mumbai-based Kotak Mahindra Bank and stakes in approximately 70 other Indian publicly traded firms.
Read more: Billions at stake: India-Canada economic ties have been flourishing; then, Justin Trudeau accused New Delhi of murder Also read: Mint Primer: Why India-Canada relations have soured Experts observe that the Canadian Pension Fund has overall investments of over ₹1 lakh crore in some of the Indian firms and even though there are no immediate risks, these companies may feel some pressure if the India-Canada tensions escalate further. June-quarter shareholding pattern data available on BSE shows that the Canadian Pension Fund held a 6 per cent stake in Delhivery at the end of the June quarter.
Besides, it held about 2.68 per cent stake in Kotak Mahindra Bank, 2.42 per cent stake in Zomato and 2.18 per cent stake in IndusTower as of June 30, 2023. The Canadian Pension Fund also held a stake of 1.76 per cent in Paytm and a stake of 1.47 per cent in Nykaa.
Apart from this, the Canadian Pension Fund holds a stake in some of those Indian firms that are listed overseas. For example, it owns a stake worth nearly $11.92 million
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