Meets with government officials, businesses, associations and students
DELHI, India, Nov. 8, 2016 /CNW/ - Delhi is the seat of India's government and the gateway to the country's dynamic economy. It's also the perfect place to begin a week-long economic mission to this rising Asian power. The governments of Canada and India have identified trade as a shared priority. It can enhance the standard of living in both countries and create opportunities for the middle class.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, was in Delhi this week to discuss the deep bilateral ties between Canada and India, and the importance of international trade to both economies to improve the lives of citizens.
Minister Bains met with key figures in the Indian government. They include Arun Jaitley, Minister of Finance, and Ravi Shankar Prasad, Minister of Law and Justice and Electronics and Information Technology. Issues discussed with ministers Jaitley and Prasad included economic reforms in India and Canada's welcoming investment climate. Also on the agenda were potential opportunities for both countries to collaborate in sectors such as financial technology and cybersecurity.
Minister Bains also met with Dr. Harsh Vardhan, Minister for Science and Technology, to review science and technology cooperation between Canada and India and to explore new possible opportunities for innovation and research and development commercialization. The two ministers announced details of 10 new projects funded under the IC-IMPACTS program—a partnership between Canada and India aimed at building sustainable communities.
Also announced were five new projects funded under the Canadian International Innovation Program, which is managed by Global Affairs Canada. The program supports collaborative industrial research and development opportunities between Canada and partner countries.
Minister Bains also helped announce three new business deals between SOTI, a company based in Mississauga, Ontario, and client firms in India, including:
- Automaker Maruti Suzuki, which will use SOTI technology to manage in-store dealership displays at 5,000 new car dealerships;
- Reckit Benckiser, a global consumer-goods firm, which will use SOTI technology on all its tablets; and
- The Lalit, a hotel group, which will use SOTI technology to enhance its guests' experiences.
Finally, Minister Bains met some of India's leading business leaders. Among them were Pawan Munjal, Chairman and CEO of motorcycle manufacturer Hero MotoCorp. He also met officials from the National Association of Software and Services Companies and the Confederation of Indian Industry.
"Trade among nations brings tremendous economic benefits. It can enhance the standard of living in both our countries and create opportunities for the middle class. Frankly, I can think of no better partner for Canada than India. For one thing, more than one million Canadians, including my parents, trace their roots back to India. Canadians share tight bonds with India through their friends, family and business associates. The purpose of this mission is to strengthen the relationship between our two countries. My goal is to open doors for Canadian companies to do business in India. I also want to encourage more Indian companies to look to Canada for investment opportunities. There is so much that our two countries can offer one another. I see a future where Canada and India stand together as partners to advance common goals."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- India's economy grew at a rate of 7.5 percent in 2015, making it the world's fastest-growing economy. According to the International Monetary Fund, the country is on track to be the world's top economic performer again in 2016.
- Bilateral trade between Canada and India surged last year to $8.1 billion from $6.8 billion the year before.
Follow Minister Bains on social media.
SOURCE Innovation, Science and Economic Development Canada
For further information: Philip Proulx, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, firstname.lastname@example.org