Strengthening Canada-India relations through trade and investment

Canada's Innovation Minister encourages Indian entrepreneurs and innovators to invest in this country

TORONTO, June 8, 2017 /CNW/ - Increasing trade and investment between Canada and India will create well-paying jobs and business opportunities that benefit citizens in both countries.

That was the message delivered by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, prior to a symposium attended by a visiting delegation of entrepreneurs and innovators from India. The Canada India Business Symposium, supported by the Government of Canada, the Indo-Canada Chamber of Commerce and the Consulate General of India in Toronto, promotes bilateral trade between the two countries.

At a time when other parts of the world are turning inward, Canada remains open to forging stronger ties with India, which has become the world's fastest growing economy. This mutually beneficial relationship could lead to more partnerships among researchers, entrepreneurs, business leaders and investors in both countries. These partnerships would be particularly beneficial for people working in high-growth sectors, such as technology, manufacturing and agri-food, where Canada and India have shared strengths.

Quote

"Canada and India have a lot in common. We are bound by family ties and personal friendships. And both countries have globally competitive strengths in sectors such as technology, manufacturing and agri-food. We also have a growing number of partnerships among our entrepreneurs, innovators and business leaders. Canada and India have a unique opportunity to strengthen our mutually beneficial trading relationship. Together, we can create companies and business opportunities while equipping our people with the skills they need for the jobs of the future."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

Quick facts

  • The Global Skills Strategy, launching on June 12, will enable Canadian companies to recruit top international talent more quickly and easily.
  • Two-way trade in goods between Canada and India was worth nearly $8 billion in 2016.
  • India's GDP is expected to grow by 7.2 percent in 2017, a growth rate that will be among the world's highest.
  • 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 and India are bound by many family ties and personal relationships. 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, ic.mediarelations-mediasrelations.ic@canada.ca

RELATED LINKS
http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home

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