Leading Indian tech and life sciences companies announce new investments and expansions to province
TORONTO — The Ontario government has concluded a successful business mission to India to build on the longstanding economic partnership between both jurisdictions. The mission, led by Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, focused on attracting new investments and strengthening ties in key sectors like technology, life sciences, and advanced manufacturing.
“Our global presence keeps Ontario top of mind for business leaders and investors in key markets like India,” said Minister Fedeli. “During this business mission, our message to the companies we met with was clear: with a world-class workforce, state-of-the-art research and development facilities and competitive business environment, the opportunities for growth in Ontario are endless.”
From February 12 to 16, Ontario’s delegation participated in events hosted by the Indo-Canadian Business Chamber in Mumbai and Bengaluru, met with senior executives from several Indian-based companies and welcomed two new investments to our province.
Piramal Pharma Ltd., a global drug manufacturer specializing in cancer and eye and kidney disease treatments, announced a $4.7 million investment — through their subsidiary Piramal HealthCare Canada Ltd. — to modernize its research, development and manufacturing facility in Aurora. The upgrades to the facility were made possible with the support of a $1.2 million investment through the Ontario Together Fund.
And, in Mumbai, CSM Technologies announced that they will be opening a new office in Toronto and shared details about their plan to hire 150 highly-skilled tech employees over the next three years. “International companies, across all sectors and industries, are choosing Ontario,” added Minister Fedeli. “We’re building international partnerships, boosting trade, attracting billions of dollars in new investments and creating more good-paying jobs for people right across the province.”