"We have trade relations with America and other European markets, we are situated at the heart of the North American free trade zone, which has more than 400 million people and generate a GDP of almost $14 trillion," Premier of Ontario, Dalton McGuinty said at a CII meeting.
As many as 13 MoUs were signed between universities, industry chambers and science and technology departments of India and Ontario for sharing information, expertise and trade opportunities and Ontario-India business relations.
"We are the economic engine of Canada and India is one of the world's fastest growing economies. We are intent in playing a bigger role in India's future," McGuinty said.
India and Ontario should share knowledge in areas of agro-technology and new forms of energy like gas hydrates available in that part of the globe, which can be explored to fulfill the fuel requirements of the world, Minister for Science and Technology and Ocean Development Kapil Sibal said.
"We need new solutions. India has a high quality human resource base and investing in India would have a globally beneficial impact," Sibal said.
Around 100 delegates, representing 87 Ontario companies, universities and government and led by the Premier, have come to India for a eight-day visit. The delegation would focus on infrastructure, financial services, culture and education.
He said trade between India and the province was built on strong foundation. Out of the total $2.5 billion trade between India and Canada in 2005, around $1 billion was accounted by Ontario's trade with India, he said.
