Punjab Newspaper

Hydroelectricity, agri-business, engineering, education, textiles and research as areas for bilateral trade between India and Canada, according to a CII Session on Navigating Globalisation: Canadian Experience” organized by CII at Chandigarh. “Canada and India are natural business partners as both share more complementarities and less competition”, according to Kevin Lynch, Clerk of the Privy Council and Cabinet Secretary to Government of Canada while addressing the delegates at the Session , according to Punjab Newspaper (www.punjabnewspaper.com).
Mr. Lynch is the most senior non-political official in the Government of Canada, and provides professional, non-partisan support to the Prime Minister on all policy and operational issues that may affect the government. “India is on the top of Canada’s business strategy as bilateral trade between India and Canada has increased from US $ 1.4 billion in 2003- 04 to US $ 3.2 billion in 2007- 08, which is a healthy increase of 2.5 times. Although certain sectors are affected amid financial crisis but overall trade balance has been in favour” , added Mr Lynch.


Reiterating the sentiment that India is a natural partner for Canada, as pluralistic society and multiculturalism exist in both countries, Mr Lynch stated that the key theme of the delegation is, “growth through delivery of shared visions between the India and Canada that matches India in hydroelectricity, agri-business, engineering, education, textiles and research.”The region is keen to develop partnerships and share its diverse advanced technologies in hydroelectricity, natural gas, waste treatment, bio and life sciences and technical textiles, he added.
Showcasing the strengths of Canada , Mr Lynch further stated that the country is also host to high quality services, as wide ranging as quality assurance, innovative design education, medical care systems , and freight support services. Introducing the delegation, Mr Lynch said that Canada‘s strength lies in minerals as the country is the first in the production of potash and uranium, second in the global production of asbestos , sulphur, nickel , zinc and gypsum , and third largest producer of titanium , aluminum , copper and platinum.
Mr Lynch, outlining the plan of their Mission to India , stated that they are here to develop personal business contacts and together develop long term, mutually beneficial , business in India . The session also discussed India’s participation in global multilateral institutions and Indo-Canadian cooperation in fostering higher education, building infrastructure and reforming agriculture and augmenting productivity.
Outlining Canada’s Economic Action Plan, Mr Lynch stated that they are going to pool in $200 billion extraordinary Financing facility and $20 billion Adjustment Support Plan to support workers , sectors and affected communities. He further added that for a stable financial system, one has to be underpinned by strong regulation and supervision as high standards and quality play an integral role in the marketplace and, ideally, facilitate trade. As the volume of trade between the Canada and India increases and expands into new areas, increased cooperation and understanding in the area of standards and conformity assessment systems and their role in regulation in both countries has to be focused.
Urging the participants to interact regularly, Mr Partap Aggarwal , Chairman , CII , Chandigarh State Council welcomed the opportunity of mutual growth and partnership among both countries. Persuading the fact that investments in India will help in reaping better future returns, he added that there is a greater scope for extended interaction linking India and Canada.
The session which was themed on strategic cooperation, market sharing and trade complementation saw participation of delegates from various sectors who were keen to develop partnerships and share diverse advanced technologies.