'Huge scope for Canadian investment in the country'
Commerce and Industry minister Kamal Nath said on Sunday that Canadian companies have extensive opportunity in India for joint ventures and investments in sectors such as infrastructure, automobile, power generation, petroleum, mining and environm...
By Gireesh, ET Bureau |
NEW DELHI: Commerce and Industry minister Kamal Nath said on Sunday that Canadian companies have extensive opportunity in India for joint ventures and investments in sectors such as infrastructure, automobile, power generation, petroleum, mining and environment.
"India needs $480 bn investment in infrastructure in the next five years," said Mr Nath, who met Canadian minister of industry Tony Clement here. Bilateral trade between India and Canada which has increased from $ 1.4 bn in 2003-04 to $ 3.2 bn in 2007-08 is a healthy increase of 2.5 times, Mr Nath said adding that the two countries are only just warming up to realising the huge potential for bilateral trade.
As regards FDI inflows from Canada to India, the minister said, "Momentum needs to be built up as during the period April 2000 to October 2008, FDI inflows have been $ 262 mn dollars - just 0.27% of the total FDI inflows in the country."
"India needs $480 bn investment in infrastructure in the next five years," said Mr Nath, who met Canadian minister of industry Tony Clement here. Bilateral trade between India and Canada which has increased from $ 1.4 bn in 2003-04 to $ 3.2 bn in 2007-08 is a healthy increase of 2.5 times, Mr Nath said adding that the two countries are only just warming up to realising the huge potential for bilateral trade.
As regards FDI inflows from Canada to India, the minister said, "Momentum needs to be built up as during the period April 2000 to October 2008, FDI inflows have been $ 262 mn dollars - just 0.27% of the total FDI inflows in the country."
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