Trudeau visit to India Welcomed by Business Group

PM's trip will strengthen our economic relations, Canada-India Business Council says

TORONTO, Jan. 22, 2018 /CNW/ - Prime Minister Justin Trudeau's visit to India next month is a significant and welcome catalyst for boosting Canada's trade and investment in India, the Canada-India Business Council (C-IBC) says.

"This visit by the Prime Minister is a momentous one.  Canada and India are natural partners sharing common values and objectives relating to economic relations, ideas and innovation, and pluralism and democracy," said Kasi Rao, President & CEO of the C-IBC.

"Diversifying our trade and investment flows are vital for Canada's future. Prime Minister Trudeau's visit provides an extraordinary platform to advance the Canadian advantage," Mr. Rao said.

The Prime Minister will visit India at the invitation of Indian Prime Minister Narendra Modi for a state visit from February 17 to 23.

"During the visit, Prime Minister Trudeau and Prime Minister Modi will reaffirm the close friendship between our two countries, and discuss ways to create good middle class jobs for Canadians and Indians alike," the Prime Minister's Office said.

India, with 1.3 billion people, is among the fastest-growing markets in the world.

Two-way trade between Canada and India was about $8 billion in 2016, and Canadian institutional investors are among the most significant global investors in India.

Mr. Rao said the C-IBC will hold two business-related events in India during Prime Minister Trudeau's visit, in collaboration with Canadian and Indian business chambers. Events are scheduled for Mumbai on Tuesday, February 20 and Delhi on Thursday, February 22.

Registration for the business-related events will be led by C-IBC in Canada and ICBC in India. Those interested in these events will find updated information on both organizations' websites. 

"C-IBC will work with leading Canada-based organizations such as the Indo-Canada Chamber of Commerce (ICCC) and the Canada-India Foundation (CIF) as well as the India-based Indo-Canadian Business Chamber (ICBC) to promote the business linkages between Canada and India," Mr. Rao said.

Discussions are also underway with leading Indian organizations such as Assocham. the Confederation of Indian Industry (CII), Invest India and the Federations of Indian Chambers of Commerce and Industry (FICCI).

"These organizations play a distinctive role and their valued participation will be sought in the context of this high-level Mission," Mr. Rao said.

"Our economic relationship with India, while growing, is still modest. This visit by Prime Minister Trudeau will provide an excellent opportunity to increase our trade and investment engagement as well as profile the Canadian brand," Mr. Rao explained.

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About the Canada-India Business Council

The Canada-India Business Council (C-IBC) is a leading organization promoting trade, investment and business development between Canada and India. The C-IBC has a multi-dimensional approach, working closely with global corporations based in Canada and India, as well as smaller and medium-sized businesses.  We also work with legal, accounting, engineering and other professional service organizations, institutional investors and various levels of government. Our memberships reflect a mix of these organizations.

SOURCE Canada-India Business Council