Canada-India commercial exchange may double in 3yr

Jan 21, 2021

“Canada can play an important role in realising India’s mission of USD 5 trillion economy in the next five years. Already, the size of bilateral engagement is USD 100 billion, including two-way trade, investment, education exchange and remittances. I expect this size to double in the next three years.” said H. E. Mr. Ajay Bisaria, High Commissioner of India to Canada at a webinar on Canada (British Columbia)-India Trade and Investment Opportunities with special focus on Infrastructure (Engineering) sector. The webinar was jointly organised by Govt. of British Columbia, Canada, WTC Mumbai, BC-India Business Network and WTC Vancouver, Greater Vancouver Board of Trade.

Speaking on this occasion, Ms. Selena Basi, Assistant Deputy Minister, Trade and Industry Development - Ministry of Jobs, Economic Recovery and Innovation, Govt. of British Columbia, Canada remarked, “India and British Columbia can collaborate in promoting green economic recovery in the Post-Pandemic era, with focus on clean technology, renewable energy, smart city projects, and others.”

Dr. Harshadeep Kamble, Development Commissioner – Industries, Govt. of Maharashtra pointed out, “Maharashtra has more than 30 mega projects lined up across the state. The state has planned USD 40 billion in public infrastructure projects, including Mumbai-Nagpur Expressway, Mumbai TransHarbour Link, various metro rail projects and integrated industrial infrastructure projects across the state. The USD 7 billion Mumbai-Nagpur Expressway will be a game changer as it will have 19 industrial nodes, residential townships and electric vehicle charging infrastructure.”

Speaking on this occasion, Mr. Pratap Reddy Bhimireddy, Special Representative - Investment Promotion & Infrastructure Development, Govt. of Andhra Pradesh said, “Andhra Pradesh has second largest coastline in India and the state government is focusing on port-led industrial development. The state plans to set up one world class skill development centre in the constituency of every Parliament Member in the state. The state has acquired more than 40,000 acre of industrial land for allotting to prospective investors.”

In his remarks, Mr. Rahul Agarwal, Assistant Vice President, Invest India said, “India is the 5th largest economy in the world today and it is poised to be the 3rd largest by 2025. India has planned to invest USD 1.4 trillion in infrastructure sector in five years, and this includes 66,000 km of highways, 100 airports, 100 smart cities, six high speed rail system, 600 station redevelopment and 7400 km of metro rail systems.”

Earlier in his Welcome Address, Mr. Vijay Kalantri, Vice Chairman, MVIRDC WTC Mumbai said, “The government of India has ensured that it will sustain the momentum of public spending in infrastructure for sustainable economic revival. The National Investment and Infrastructure Fund, is raising funds to support the development of critical infrastructure projects in India. We invite you all to explore trade and investment opportunities in India’s engineering and infrastructure sectors.”

Ms. Rupa Naik, Senior Director, MVIRDC WTC Mumbai proposed the Vote of Thanks.

The event was attended by representatives of trade and industry, consular corps and other government officials from India and Canada.