Canadian companies keen to bring pension funds to invest in

Canada today said that it is keen to bring in investable capital in the form of its pension funds into India which provides a long-term secure and stable capital investment.
Canadian High Commissioner Stewart Beck said his country has the strongest pension funds in the world and it wants these funds to come to India.
"He said that last week representatives of five largest Canadian pension funds were in India to talk about how to bring Canadian capital in this market. Those five funds alone represents around 700 billion dollars of investible capital," said Beck.
Beck said his country believes that India provides a long-term secure and stable capital investment.

"One of the concerns the Canadian pension funds have is the taxation system in India. India has layers of tax. Canadians do not have any problems in paying tax. Already, some Canadian pension funds have invested in India and although they are not large investments, by normal standards its pretty large and we want to bring in more because we see the opportunities," said Beck.
The comments come after India recently passed the Pension Fund Regulatory and Development Authority Bill which provides for investment in funds in equity markets and opens the sector up to 26 per cent FDI.