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Indo-Canadian Business Chamber to set up more centres in India
Chandigarh, Aug 23: The Hyderabad-based Indo-Canadian Business Chamber has decided to set up its centres in Chandigarh and Bangalore shortly to give a push to bilateral trade between the two countries.
Chandigarh, Aug 23: The Hyderabad-based Indo-Canadian Business Chamber has decided to set up its centres in Chandigarh and Bangalore shortly to give a push to bilateral trade between the two countries.
Stating this at a seminar organised by PHD Chamber of Commerce and Industry (PHDCCI) here yesterday, Canadian High Commissioner in India Peter H Sutherland underlined the need for synergising bilateral trade in agriculture, agri-processing, bio-technology, information technology, environment and tourism. He added that the two countries could also join hands in the education sector.
Mr Sutherland said while Canada is strong in bio-technology, India has made an impact in information technology and, therefore, the two countries could benefit from each other in these fields. He said though Canada's bilateral trade with China is five times more than is with India as the process of economic reforms in China had started much earlier in 1978, yet India had, of late, picked up momentum.
Dwelling on the century-old business ties between the two countries, Mr Sutherland said India, being the 12th largest economy based on GDP and fourth largest based on purchasing power parity in the world, has become a priority area for giving a further push to bilateral business in the liberalised trade regime in India.
He said Canadian Prime Minister would be visiting India in October for giving a fillip to bilateral trade and cooperation. The High Commissioner said there had been a 25 per cent increase in Canadian exports to India last year over the year 2001.
The chamber's Chandigarh committee chairman Vikram Sahgal said bilateral trade could be taken to a new height by combining Canada's financial resources and technical expertise with India's vast reservoir of skilled manpower and natural resources. He added this would also help Indian business cater to the domestic market and the neighbouring Asian markets.
Mr Sahgal said trade balance of Rs 603 crore favoured India in 2002-03 in the bilateral trade of about Rs 6083 crore between the two countries and added, India's exports to Canada were worth Rs 3343 as against imports of Rs 2740 crore. Bureau Report
Mr Sutherland said while Canada is strong in bio-technology, India has made an impact in information technology and, therefore, the two countries could benefit from each other in these fields. He said though Canada's bilateral trade with China is five times more than is with India as the process of economic reforms in China had started much earlier in 1978, yet India had, of late, picked up momentum.
Dwelling on the century-old business ties between the two countries, Mr Sutherland said India, being the 12th largest economy based on GDP and fourth largest based on purchasing power parity in the world, has become a priority area for giving a further push to bilateral business in the liberalised trade regime in India.
He said Canadian Prime Minister would be visiting India in October for giving a fillip to bilateral trade and cooperation. The High Commissioner said there had been a 25 per cent increase in Canadian exports to India last year over the year 2001.
The chamber's Chandigarh committee chairman Vikram Sahgal said bilateral trade could be taken to a new height by combining Canada's financial resources and technical expertise with India's vast reservoir of skilled manpower and natural resources. He added this would also help Indian business cater to the domestic market and the neighbouring Asian markets.
Mr Sahgal said trade balance of Rs 603 crore favoured India in 2002-03 in the bilateral trade of about Rs 6083 crore between the two countries and added, India's exports to Canada were worth Rs 3343 as against imports of Rs 2740 crore. Bureau Report