I am currently an Indian passport holder and have booked my tickets to land @ Toronto and I have transit at Frankfurt, Germany with around 3 hours of waiting time. Do I need a transit visa?
Now the german website states the below for Indian citizens "Nationals of the above mentioned countries Do NOT require an airport transit visa if: have a valid visa for the UK, Ireland, Japan, Canada, USA, Romania, Bulgaria, Cyprus, Lichtenstein".
Does the immigrant visa that is stamped on our passport be considered under the above exemption? Or do I need to apply for a transit visa?
No, you won't. As long as you stay airside (basically inside the terminal) you don't need to worry. With a three hour layover you're not going to go out anyway. Frankfurt is a nice airport, I usually transit through there.