Canada for closer economic ties with India
Seeking to increase its commercial presence in Indian markets, Canada has stepped up efforts to expand economic cooperation with India.
By PTI |
OTTAWA: Seeking to increase its commercial presence in Indian markets, Canada has stepped up efforts to expand economic cooperation with India, a senior official has said.
"We have stepped up efforts to expand our level of cooperation that would be beneficial for both the countries," Deepak Obhrai, newly appointed Parliamentary Secretary to the Minister of International Cooperation, said.
Obhrai, who is also the Parliamentary Secretary to the Minister of Foreign Affairs, said Canada was focusing on increasing its commercial presence in rapidly-growing markets in India and to support Canadian investment there. He was speaking at a Indo-Canada Chamber of Commerce meeting here yesterday.
R L Narayan, Indian High Commissioner to Canada said that trade relations between the two nations were about to take-off and high-level exchanges at official and political level were going on.
He stressed there has been a rapid increase in foreign direct investment in Canada by Indian software companies.
Areas of Indian investment also included minerals and metals, pharmaceuticals, petro-chemicals, oil and gas, auto ancillaries, financial services.
Citing the examples of State Bank of India and ICICI, he said that the Indian banks were expanding fast in Canada.
Narayan said that more and more Canadian companies were investing in the country as they realised that Indian economy was one of the worlds fast expanding economies.
The Indian ambassador also highlighted the cooperation in field of education and said that more and more educational institutions and universities were establishing closer linkages between the people of two countries for mutual benefits.
"We have stepped up efforts to expand our level of cooperation that would be beneficial for both the countries," Deepak Obhrai, newly appointed Parliamentary Secretary to the Minister of International Cooperation, said.
Obhrai, who is also the Parliamentary Secretary to the Minister of Foreign Affairs, said Canada was focusing on increasing its commercial presence in rapidly-growing markets in India and to support Canadian investment there. He was speaking at a Indo-Canada Chamber of Commerce meeting here yesterday.
R L Narayan, Indian High Commissioner to Canada said that trade relations between the two nations were about to take-off and high-level exchanges at official and political level were going on.
He stressed there has been a rapid increase in foreign direct investment in Canada by Indian software companies.
Areas of Indian investment also included minerals and metals, pharmaceuticals, petro-chemicals, oil and gas, auto ancillaries, financial services.
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Citing the examples of State Bank of India and ICICI, he said that the Indian banks were expanding fast in Canada.
Narayan said that more and more Canadian companies were investing in the country as they realised that Indian economy was one of the worlds fast expanding economies.
The Indian ambassador also highlighted the cooperation in field of education and said that more and more educational institutions and universities were establishing closer linkages between the people of two countries for mutual benefits.
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