TORONTO, May 26, 2017 /CNW/ - The trade partnership between Canada and India represents an important opportunity for both nations to build innovative communities and smart cities, strengthen businesses of all sizes and generate more jobs for the middle class.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, today delivered remarks at the Canada-India Partnership Summit, an event hosted by the Canada-India Business Council. The Minister highlighted some of the important actions the Government of Canada is taking to enhance the countries' significant bilateral trade relationship, including his recent trip to key economic regions in India, where he promoted the interests of Canadian businesses and communities.
The Minister also participated in a panel discussion on Canada and India as smart country partners. He was joined by His Excellency Vikas Swarup, High Commissioner of India to Canada, and Mukesh Aghi, President of the U.S.-India Business Council.
Later that day, Minister Bains hosted his third Spotlight India meeting. This gathering brings together the Minister and stakeholders interested in strengthening Canada-India business relations.
"Forging closer economic ties with India is a big priority for the Government of Canada. The benefits of this partnership extend beyond simply accelerating our respective GDP and generating more jobs. Together, we are also taking action to foster more innovative urban centres, strengthen businesses of all sizes and create a brighter future for the middle class."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"The Canada-India economic relationship will increasingly be one where our trade in commodities and resources will be augmented by the compelling innovation agenda of the two countries. The imminent launch of Air Canada's direct Toronto-Mumbai flight, the increase in our trade and investment engagement with India, and now the developing brain chain between Canada and India all point to a promising road ahead."
– Kasi Rao, President and CEO, Canada-India Business Council
- The Canada-India Business Council is a not-for-profit trade association that links international corporations and small and medium-sized businesses in Canada and India.
- Two-way merchandise trade between Canada and India was worth almost $8 billion in 2016.
- India's GDP is expected to grow by 7.2 percent in 2017 and will be among the world's highest (it was the world's highest in 2015).
- More than 400 Canadian companies have a presence in India, and more than 1,000 companies are actively pursuing business in the Indian market.
- Canada's connection to India goes well beyond trade: more than one million Canadians trace their roots back to India.
Follow Minister Bains on Twitter: @MinisterISED
SOURCE Innovation, Science and Economic Development Canada
For further information: Karl W. Sasseville, 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, [email protected]