Historic trade mission to India unleashes new partnerships between Indian and Canadian businesses
November 17, 2017 - Ottawa, Ontario - Global Affairs Canada
The Government of Canada is committed to diversifying trade markets to ensure future growth and prosperity for Canadians and Canadian businesses, including small and medium-sized enterprises (SMEs). India is one of the world’s fastest-growing economies and a vibrant market for Canadians seeking to grow their businesses into the Asia-Pacific region and create well-paying jobs at home.
The Honourable François-Philippe Champagne, Minister of International Trade, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and the Honourable Marc Garneau, Minister of Transport, today concluded a successful trade mission to India aimed at showcasing the Canadian talent and technologies shaping tomorrow’s economy. Some 120 representatives from more than 85 Canadian companies participated in the trade mission.
More than 300 meetings in total were facilitated over the week to enhance Canada-India commercial relations. These included 200 business-to-business meetings surrounding India’s 23rd Technology Summit, held in New Delhi, as well as numerous high-level interactions with Indian ministers and chief ministers in five cities.
During their mission, the ministers opened doors for Canadian businesses of all sizes seeking to partner with Indian companies and helped to support growth opportunities in a variety of fields, including advanced manufacturing, transportation, health, technology and the digital economy. The ministers highlighted the government’s commitment to diversity and the untapped potential of Canada’s people-to-people ties by engaging with Canadian and Indian female business leaders and small-business owners.
Canada and India have much in common and continue to have well-established partnerships in many areas. Strengthening relations between Canada and India helps foreign investors partner with innovative Canadian firms and contributes to the growth of the middle class through new jobs and business opportunities.
“India is a vibrant market that offers boundless opportunities for Canadian companies looking to diversify into the Asia-Pacific region. This historic trade mission to India allowed Canadian companies to share their expertise and take advantage of multiple networking and partnership development opportunities. By deepening Canada’s trade and investment ties with India, we are helping our businesses succeed in creating more jobs, prospects and growth for our middle class.”
- François-Philippe Champagne, Minister of International Trade
“Canada and India share values that are the very foundation of successful trading relationships. Our mutual appreciation for a diverse and inclusive economy will facilitate growth and prosperity for our respective countries. Supporting innovation and strengthening our relationships with global partners will diversify markets, expand industries and promote investment. Canada is home to a strong, hardworking and diversified labour force. Fuelling innovation and encouraging global investment in Canada are important steps that will create more jobs and grow our middle class.”
- Navdeep Bains, Minister of Innovation, Science and Economic Development
“When it comes to innovation, Canada and India are not only world leaders, but also ideal trading partners. Modern trends in technology and in society are changing how people and goods travel. This week, I witnessed first-hand how shared best practices, collaborative ideas and cooperation on transportation issues will help Canadian companies enhance private sector opportunities in India. Ultimately, this will improve lives and allow Canada to trade more efficiently with our international partners.”
- Marc Garneau, Minister of Transport
While in India, the travel itineraries of ministers Bains, Champagne and Garneau included Bangalore, Hyderabad, Mumbai, New Delhi and Pune.
Minister Bains was the first Canadian federal minister ever to make an official visit to the city of Pune. Sometimes referred to as “the Oxford of the East” for its role as a major education hub, Pune is also recognized for its auto manufacturing industries and its emerging position as a technology hub.
During his visit to India, Minister Champagne visited four cities and announced this year’s recipients of the Canadian International Innovation Program—a funding program offered by Global Affairs Canada designed to support Canadian SMEs undertaking bilateral research and development projects.
While in India, Minister Garneau signed the extension of the Canada-India memorandum of understanding (MOU) on cooperation in road transportation. The updated MOU covers cooperation in road transportation and intelligent transportation systems and creates opportunities for Canadian companies in India.
Recognizing the significance of the Indian market, Canada has been increasing its trade support network, which now includes close to 50 trade commissioners in eight different locations.
In 2016, merchandise trade between Canada and India was valued at $8 billion.
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Office of the Minister of International Trade
Innovation, Science and Economic Development Canada
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Karl W. Sasseville
Office of the Minister of Innovation, Science and Economic Development
Transport Canada, Ottawa
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