Global Affairs Canada : Ministers Champagne, Bains and Garneau join forces for technology and innovation trade mission to India
November 11, 2017 - Ottawa, Canada - Global Affairs Canada
The vibrancy of Canada's cultural and people-to-people ties with India is a competitive advantage that has yet to be fully tapped for the benefit of Canadians and Indians alike. Canada counts more than a million Indo-Canadians and $8 billion in annual trade. Deepening economic engagement now is the key to turning that strength in cultural diversity into an economic one for long-term growth, prosperity and more middle-class jobs for Canadians.
To that end, 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, will lead a trade mission to India from November 13 to 17, 2017, along with a delegation of Canadian business people.
Now is the time to seize opportunities, be ambitious as we grow exports to India, and expand two-way investment. This trade mission will begin in New Delhi, with India's 23rd Technology Summit, featuring Canada as the partner country, a clear indication of Canada's leading role at the forefront of the 21st-century economy. The delegation will then travel to Mumbai, Kolkata, Pune, Hyderabad and Bangalore for sector-specific business programs, drawing on the two countries' people-to-people ties from north to south and east to west across the subcontinent.
Progressive trade is about making trade work for people everywhere, and that means focusing on the interests and ambitions of smaller companies, including those owned by women, youth and Indigenous entrepreneurs. Much of Canada's economy depends on small to medium-sized enterprises, and these businesses will benefit the most from expanded market access.
Canada's trade mission will highlight the role of women in science and business. It will build on the government's Innovation and Skills Plan by providing support to Canadian entrepreneurs and global investors considering partnerships with innovative Canadian firms. Canada is leading the way in redefining how global trade is done. By putting people first and focusing on the middle class, Canada will ensure the future prosperity of Canadian companies, farmers and workers.
Canadian companies interested in participating in this upcoming trade mission to India can register to join the delegation. Canada's diversity is an economic strength that better positions Canadians to successfully diversify into new markets like India.
'The next chapter in Canada's economic success will be written by tapping into our multicultural diversity and translating it into stronger trade ties to the benefit of our middle class. Trade between Canada and India is critical to this effort. This mission will lead Canadian businesses at the forefront of innovation in goods and services, technologies and ideas to expand access to the bustling Indian economy of more than one billion consumers.'
- The Honourable François-Philippe Champagne, Minister of International Trade
'Canada is home to leading-edge innovation and strong economic growth-both critical factors in attracting investment here. Canada is known for its talented and highly skilled workforce. India is the world's fastest-growing major economy. Bringing our business communities together could create powerful and long-lasting synergies that will benefit a broader range of people in both countries.'
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
'This trade mission to India is a great opportunity to highlight Canada's expertise in innovative transportation technology, such as intelligent transportation systems, in a massive, dynamic economy with new and enhanced urban and transportation infrastructure needs. It will also allow us to further enhance our trade relations with India and advance investment opportunities for Canadian companies in the technology, aerospace and rail sectors.'
- The Honourable Marc Garneau, Minister of Transport
In 2016, merchandise trade between Canada and India was valued at $8 billion.
India is the world's fourth-largest economy and the second-most populous country. The World Bank estimates India to be the world's fastest-growing major economy and projects this trend to continue for the next five years.
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