Accompanied by ministers, parliamentarians, and especially the leaders of Canada’s nine largest pension funds (often referred to as the “Maple 8” or “Maple 9,” including CPP Investments, CDPQ, OMERS, Ontario Teachers’ Pension Plan, and others), Mark Carney held numerous meetings in Mumbai and New Delhi from February 27 to March 2, 2026. This unprecedented delegation underscores Ottawa’s priority on long-term institutional investments in emerging markets. Figures cited by official sources vary slightly: India claims that Canadian pension funds and sovereign wealth funds have already invested between $73 billion and $100 billion in the country, primarily in infrastructure, airports, logistics, renewable energy (hydro, solar, wind), roads, healthcare, and digital technologies. Giants such as Brookfield (where Carney held significant roles before entering politics) hold substantial portfolios in India, estimated at several tens of billions on their own. During his meeting with Narendra Modi at Hyderabad House, the Canadian Prime Minister highlighted the “deep confidence” of Canadian institutional investors in India’s “growth story.” The two leaders announced the rapid conclusion of a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, with the stated goal of doubling bilateral trade to approximately CAD 70 billion by 2030—or even targeting an additional CAD 50 billion in trade and investment. “Canadian pension funds are among the largest foreign investors in India. This symbolizes their faith in the country’s future,” Narendra Modi declared during the joint press conference, explicitly referencing the $100 billion already committed. For his part, Mark Carney gathered the executives of the funds present in India to discuss further opportunities, particularly in clean energy, critical minerals, and sustainable infrastructure. This push toward India fits into a broader Canadian strategy of economic diversification amid persistent trade tensions with the United States. The visit also resulted in about ten commercial agreements worth more than CAD 5.5 billion in total, including a major Canadian uranium supply contract (CAD 2.6 billion) for India’s nuclear program, as well as deals on rare earths, technology, and renewables. Critics and observers note, however, that Mark Carney’s past at Brookfield Asset Management raises questions about potential conflicts of interest, although the Prime Minister insists on a strict separation between his former private roles and his current responsibilities. By inviting Narendra Modi to visit Canada in the near future, Mark Carney has laid the groundwork for a lasting rapprochement. For Canadian pension funds, India now represents a privileged investment terrain: stable, with strong long-term return potential, and aligned with global priorities in the energy transition. It remains to be seen whether these ambitions will translate into new concrete commitments in the coming months.