The ‘Ontario Trade Mission’ Will Strengthen Indo-Canadian Ties
India and Canada share enduring bilateral ties that have been strengthened with the presence of a notable Indian diaspora in the country. Taking Indo-Canadian relationships further, the Premier of Ontario, Kathleen Wynne will be leading a Canadian delegation to India as part of the ambitious ‘Ontario Business Mission to India.’ This trade mission will span between January 31 and February 5 and the delegates will travel across India to the cities of New Delhi, Chandigarh, Hyderabad and Mumbai.
The delegation will include 50 business persons, representatives of post-secondary institutions and municipal leaders. The key purpose of the mission is to explore and increase partnerships between the two regions. Wynne who is passionate about business growth recently tweeted “I am leading a mission to India to find new ways to grow our economy and create good jobs for people in Ontario”
Talking About Trade
Canadian businessmen and expats based in India have hailed the mission as much needed to boost the relations between the two countries. Renato Cudicio, CEO of Arsha Consulting and Chairperson – Indo-Canadian Business Chamber (ICBC), Bangalore says, “The visit of the Ontario Premier is great news for the Canadian business community already installed in India and a clear sign for those in Canada who are still hesitant to do business in India. India is huge, but, a complex market and we understand that it may be a little frightening to make the jump. However, the size of the population and its fast growing economy justify the close attention that Kathleen Wynne will bring at the right moment in the history of this country.”
The areas of negotiation and discussions of the Ontario Business Mission will include clean technology, information and communications technology, life sciences, education, energy, agriculture, aerospace and culture. However, the two main themes chosen are sustainable development and urban infrastructure – sectors that both India and Canada are passionate about in their efforts to mitigate climate change and build smart cities.
Cudicio who lives and works in Bangalore – the Indian Silicon Valley – since 2014, says “The need in India for public and private infrastructures is beyond everything imaginable. Anyone circulating a few minutes in the streets of Bangalore or the suburbs of Mumbai will discover the huge potential this country offers to a vast spectrum of Canadian companies with the right technologies and expertise.”
Tale of Two Regions – Ontario and India
The province of Ontario and India hold several connections. The chief among these is the fact that Ontario is home to the largest Indo-Canadian community.
What makes business with the region attractive are its proven credentials. Ontario is known to offer investors and entrepreneurs one of the world’s best places to do business. It has a competitive corporate tax rate and a robust financial sector. It also boasts of the most minimal business costs in the G7 and has one of the most well-educated workforces around the globe.
Ontario’s interest in India, which is the world’s fourth-largest economy has also continued to grow and there are more reasons to do business in India than ever before today. Trade and investment between the two regions have been picking up. In 2014, two-way trade totalled $1.9 billion, up 20 per cent from 2010. The potential of opportunities that will follow the trade mission will be numerous for both countries.
Elizabeth Raj | Blogger- Arsha Consulting
Image Credit: Padmanaba01