<p>Canada Pension Plan Investment Board (CPPIB) plans to invest CAD330m (&euro;231m) in its first retail property joint venture in India.</p> <p>The arrangement will eventually give the Canadian investor a 49% stake in a platform to build and redevelop shopping malls in a country that is forecast to become the world&rsquo;s third-largest consumer market.</p> <p>CPPIB has signed a definitive agreement with The Phoenix Mills Limited (PML) to develop, own and operate retail-led, mixed-use developments.</p>