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With a combined household income of 45 lakhs also I'm deliberating if it is worth the move. For you it is going to be tricky.
Yes it is very !!
There are many factors one tends to miss while making this decision. Education in India is getting pricier by the year. Healthcare is no better and again, pricier. A medical insurance with 10lacs claim would be burned out with a single procedure or treatment. Moreover, the interest rates to get a loan (and every Indian's dream - a house) itself is starting at 9-12%.
In Canada, you have free healthcare, free primary education for your kids and with a good credit score, you can secure a housing loan at 1-2% interest. Many friends in my circle have bought a house in the first 2 years after landing in Canada along with a decent car.
Moreover, once your kids attain citizenship (which can be easily attained after spending 3 years in the country), they are looking at paying a fraction of what foreign students pay for their college.
Doing a cost-benefit analysis on the above factors alone can help you make the right decision.
Do both of you plan to work in Canada?
That's the plan but not sure if we would get the same equivalent in canada