PM a hit in Canada
Prime Minister Narendra Modi’s visit will give a huge boost to Canadian investment in India, says Excel Funds, which is the largest Canadian Mutual Fund geared towards India. Indian-origin Mr Bhim D. Asdhir, who is the president and CEO of Excel Fund, says the visit of the Indian prime minister will set a new milestone in India-Canada investment relations. “As the world’s fastest growing economy, India is firing on all cylinders and has become attractive to foreign investors,” says Mr Asdhir who has just returned from a business trip to India. “Since assuming office last May, Modi has been instrumental in influencing significant investments from several major countries, among them the US, Japan, China and France. Canada is expected to follow suit,” he said.
He further said that the new institutional and regulatory reforms coupled with a strong currency will spell boon for India in the coming years. Pointing to the huge success of Excel India Fund as an indication of Canadian investors’ huge interest in India, he said, “We anticipate that Prime Minister Modi’s visit will raise awareness of India as one of the best investment destinations.”
According to Asdhir, India’s large highly educated labor force, and a growing, upwardly mobile middle class increase “its desirability as an investment destination”. The Excel India Fund is managed by Birla Sun Life Asset Management Company Limited in India.