Trade between India and Ontario up 13%

Ontario benefited from investments by the Aditya Birla Group, Essar Steel, the Tata Group etc.

Trade between India and Ontario, Canada's richest and most multi-cultural province, grew by 13% last year, Ontario's Minister of Economic Development Brad Duguid has said.

"The two-way trade between Ontario and India was $1.81 billion in 2011, showing a growth of 13% in one year," he said, addressing visiting senior Civil Service officials from India and Sri Lanka at a function organised by the Indo-Canada Chamber of Commerce.

Over 112 senior IAS officers were here on a study tour at the Institute of Public Administration of Canada. It was the second such programme organised by the institute to strengthen institutional linkages between India and Canada.

Duguid said, "In the 21st century, Ontario is a trading jurisdiction whose long-term prosperity depends on its strong relations with its trading partners. Trade between India and Ontario continues to grow and is becoming increasingly important to both our countries."

The government would lead three sector-specific missions to India later this year with focus on infrastructure, clean technology, and telecommunications.

Ontario Premier Dalton McGuinty has led two missions to India. These missions have enabled them to make political linkages, attract investments and promote export, he said.

With $6.6 billion invested in Canada, Indian businesses have established a huge presence here in a variety of sectors, he said.

"In Ontario, we have already benefited from investments by Indian corporations, including the Aditya Birla Group, Essar Steel, the Tata Group, among others. By being more open to trade opportunities; we increase the opportunities for Ontarians and Ontario  businesses," the minister added.

Commending efforts made by the ICCC in strengthening bilateral trade relations between the two countries, Consul General of India Preeti Saran said the last few years have witnessed a series of unprecedented high level visits between two countries, including two trade missions to India by Ontario Premier Dalton McGuinty.

She said last year was a special year for India-Canada relations, as both countries celebrated the 'Year of India in Canada' that was not just about showcasing India's vibrant and rich culture, but also a celebration of India-Canada relationship.

ICCC President Satish Thakkar said ICCC was committed to strengthening bilateral economic and cultural ties.

Referring to free trade agreement, he said the agreement was very important for Indian companies who want to expand into Canada. Its successful conclusion would be a big step in bringing the two countries closer together economically.