Sun Life Chief urges for better ties with India
Canada must intensify its diplomatic and trade missions to New Delhi, including pursuing a bilateral trade agreement, failing which Canadian companies may lose out on India's "extraordinary potential", a top business figure has said.
By PTI |
TORONTO: Canada must intensify its diplomatic and trade missions to New Delhi, including pursuing a bilateral trade agreement, failing which Canadian companies may lose out on India's "extraordinary potential", a top business figure has said.
Addressing a gathering of top executives of Canadian companies here, Don Stewart, CEO of Sun Life Financial company, said there is a great potential for trade relations between the two countries.
"We need to engage Indian decision-makers deliberately, continuously and strategically," Stewart said, adding "The most effective place to start is government to government. The highest level engagement is critical." "Canada needs to promote a stronger national brand in India," he said on Thursday at the event organised by the Canada India Business Council (C-IBC).
Canadian Finance Minister Jim Flaherty, who was also present, acknowledged that Canada's trade with India is currently "far below the potential."
Stating that Canada is the 14th largest exporter to India, while India is Canada's 24th largest export market, Flaherty said "a high quality free trade agreement with India should be our long term aim."
Sun Life Birla, a partnership with India's Aditya Birla Group, has a sales force of more than 40,000 people in India and is one of the top five privately owned life insurance businesses in the country.
Flaherty presented the Business Person of the Year Award for 2007-2008 to Gary Comerford of Sun Life Financial. Indian High Commissioner R L Narayan lauded the efforts being undertaken by the C-IBC to promote trade, investment and services between Canada and India.
Addressing a gathering of top executives of Canadian companies here, Don Stewart, CEO of Sun Life Financial company, said there is a great potential for trade relations between the two countries.
"We need to engage Indian decision-makers deliberately, continuously and strategically," Stewart said, adding "The most effective place to start is government to government. The highest level engagement is critical." "Canada needs to promote a stronger national brand in India," he said on Thursday at the event organised by the Canada India Business Council (C-IBC).
Canadian Finance Minister Jim Flaherty, who was also present, acknowledged that Canada's trade with India is currently "far below the potential."
Stating that Canada is the 14th largest exporter to India, while India is Canada's 24th largest export market, Flaherty said "a high quality free trade agreement with India should be our long term aim."
Sun Life Birla, a partnership with India's Aditya Birla Group, has a sales force of more than 40,000 people in India and is one of the top five privately owned life insurance businesses in the country.
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Flaherty presented the Business Person of the Year Award for 2007-2008 to Gary Comerford of Sun Life Financial. Indian High Commissioner R L Narayan lauded the efforts being undertaken by the C-IBC to promote trade, investment and services between Canada and India.
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