Canada identifies 4 core areas of business in Eastern India
In spite of having limited scope to do business in Eastern India, the Canadian High Commissioner in India feels that there is huge potential in furthering bilateral trade in the region, particularly in areas of education, infrastructure,food and energy security.
Speaking to reporters here last night after participating in an interactive sessiNn with CII members and captains of various industries in the East, Mr Stewart Beck said, 'no matter how India, or for that matter Eastern region, is seen as a difficult place to do business,things are now changing' and because of that his country had set its focus on four key areas.
Identifying these areas as education and infrastructure along with the food and energy security, he said his government was working overtime to boost trade and investment in wide ranging sectors in India for the past few years.
According to Mr Beck, Canada could bring world class efficiency and effectiveness in food processing industry and agricultural logistics, besides help in developing clean technologies and waste water management.
About the busines ambience in West Bengal, he said, "There has been a noticeable change in attitude to business here,' adding Canada was keen that Coal India invests in the country, chiefly in metallurgical and coking coal.
Asked about the scope of further growth in bilateral trade, the Canadian envoy said in 2013 the total bilateral trade stood around 5.5 billion USD with a growth of 12 per cent over the previouis.'But this year we expect a higher growth'.
According to him, innovation and entrepreneurship are two other important areas to which Canada could contribute significantly.
Mr Beck also called for removal of regulatory hurdles to attract top Canadian mining companies to invest in the Eastern Region.
Earlier, Mr Viresh Oberoi,Chairman,CII Eastern Region, welcoming the guest at the interactive session,described the possibilities of collaboration between India and Canada as tremendous.The complementary nature of the two economies presents a unique set of factors that can be leveraged for mutual benefit, he opined.
(Posted on 09-04-2014)