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Canadian PM Announces new Commercial Partnerships with India and jobs for Middle-Class Canadians

February 2018, 21
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India is a fast-growing economy in the world and presents important opportunities for strengthening middle class of Canada. It boosts prosperity in both the countries. The deep-rooted cultural and people-oriented contacts facilitate an economic relationship which creates top jobs in both the countries.

Meeting the business leaders in the commercial capital Mumbai, the PM Trudeau, welcomed $1 billion investments between companies of the two countries. This will eventually lead to creating more than 5,800 top quality and well-paying middle-class jobs for the people of Canada.

These investments are bound to play an important role in the growth of its economy, and also support entrepreneurship and innovation, leading to increased collaboration in major sectors, like IT, infrastructure, Aerospace, Film Production, Clean Technology, and R&D.

He participated in a roundtable event on women’s leadership and conducted meetings with Business Executives to deal with the measures required to benefit Indians and Canadians in finding fresh opportunities for cooperating in the global economy and also to promote economic empowerment of women.

At the Canada-India Business Forum, he was involved in a discussion held prior to being present at an event, conducted for the top figures of the Indian film fraternity, and a reception, where Community and Business Leaders, were invited. He stated that India was a rapidly growing economy of the world, and offers a great opportunity for Canadian businesses, big or small. The partnerships, which were announced today, present a proof of the increasingly-growth oriented ties between the two countries.

Some Facts

In Mumbai, the PM met with corporate leaders of Tata Sons, Shapoorji Pallonji Group, Infosys, Aditya Birla Group, Mahindra Group, and Jubilant Bhartia Group.

Both Canada and India have a strong and growing commercial relationship, besides having people-to-people contacts and cultural ties.

Merchandise exports to India totaled $4.18 billion in 2017, which made India the seventh-largest receiver of Canadian merchandise exports. The merchandise imports were $4.16 billion in 2017.

The trade in the service sector between the Canada and India was $2.1 billion in 2016, registering a growth of 1.9 percent from 2015. India was the 10th-largest source of international visitors and tourists in Canada, where 224,000 visits were made by Indians to Canada in 2016.
 
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