Canadian and Indian Companies Sign 16 Commercial Agreements Worth 1.6 Bn Dollars

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The Office of the Prime Minister Apr 21, 2015

PM welcomes commercial announcements by Canadian and Indian companies

Prime Minister Stephen Harper and Narendra Modi, Prime Minister of India, today welcomed 16 commercial agreements and announcements by Canadian and Indian companies and organizations, which will help create jobs in both countries. The commercial agreements and announcements have a combined value of over $1.6 billion.

The announcements cover a wide range of sectors, including aerospace and defence, education, energy, mining, infrastructure, sustainable technologies, and information and communications technology.

Quick Facts
 

• With bilateral merchandise trade totalling over $6.3 billion in 2014 and bilateral service trade at over $1.5 billion in 2013, a market of more than 1.2 billion people, and a predicted economic growth of 7.5 per cent in 2015, India represents exciting opportunities for Canadian businesses.
• The stock of two-way foreign direct investment (FDI) between Canada and India totalled approximately $4.4 billion in 2013. Of this, the stock of FDI in Canada from India is nearly $3.8 billion and the stock of Canadian FDI in India stood at $613 million.
• Canada has recognized the importance of India for Canadian businesses, and has increased trade resources in India to help facilitate business connections and increase trade between the two nations. Canada’s trade office network now includes close to 50 trade commissioners in eight different locations across India, and two Export Development Canada Offices with four representatives.
• India is a priority market in Canada’s Global Markets Action Plan, which seeks to increase the number of Canadian companies exporting abroad.

Quote
 

“It is exciting to see the commercial deals being signed between Canadian and Indian firms today, which will generate jobs and economic growth in both countries. The untapped trade potential between Canada and India is enormous. Canada has what India needs and vice-versa. Recognizing this, Prime Minister Modi and I are busy working to advance bilateral agreements that will further increase two-way trade and investment flows.” – Prime Minister Stephen Harper

Related Product

• Commercial Announcements and Agreements Between Canadian and Indian Firms

Associated Link

• Global Markets Action Plan