rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Ontario plans 'India desk' to boost trade

Ontario plans 'India desk' to boost trade

March 24, 2006 12:39 IST

Ontario, a leading province in Canada has evinced interest in building economic bridges with India and encouraging investments from the emerging south Asian superpower in different sectors including diamond mining.

Ontario has decided to educate Canadians on regular basis about business opportunities in India, State Minister of Economic Development and Trade Joseph Cordiano has said.

"The state has decided to set up 'Indian desk' in the ministry that will formulate strategies so that Canadians should understand, appreciate, and invest in new India, the emerging super power," the minister said while addressing a meeting organised by the Indo-Canada of Chamber of Commerce in Toronto on Thursday.

The minister said the state would market India in Canada on a regular basis so that Canadians could effectively contribute in development of the country and take advantages of business opportunities.

Despite the distance in geography, Canada and India shared common values like rules of law, parliamentary democracy, independent judiciary and were members of the Commonwealth, Cordiano said.

Appreciating the role that Canadians of Indian origin played in economic development of Canada, the minister said the state wanted to use the half million Indian community that lived in the province to act as Canada's bridge to the emerging south Asian giant.

He said Canada would welcome increased Indian investments in different sectors including diamond mining. There was a need to diversity trade in terms of both products and markets as well as the need to enhance competitiveness in an era of globalisation, the minister added.

Replying to a question about difficulties faced by Indian entrepreneurs in getting visa, Cordiano said the state was working with the Federal government to resolve the issue so that India could become more accessible to entrepreneurs and students.

ICCC president Ajit Khanna while welcoming the minister said that there was great potential for expanding trade and investment ties between India and Canada. India's great need is energy and Canada is an energy power.

Both countries could help each other in hydro, coal, oil, gas, nuclear and renewable energy, automobiles and environment management. There was a great scope for investment in these areas, he added.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.