PRIME Minister Justin Trudeau on Tuesday met with the senior corporate leadership of Tata Sons, Infosys, Mahindra Group of Companies, Jubilant Bhartia Group, Aditya Birla Group, and Shapoorji Pallonji Group in Mumbai.
He welcomed more than $1 billion in investments between Canadian and Indian companies, which he said would lead to the creation of more than 5,800 good, well-paying middle class jobs for Canadians.
He said these investments will grow Canada’s economy, encourage innovation and entrepreneurship, and see increased collaboration in several key sectors, including infrastructure, information technology, aerospace, clean technology, film production, and research and development.
Later in the day, Trudeau participated in a women’s leadership roundtable and met with a number of business executives to discuss how Canadians and Indians can benefit from new opportunities to cooperate in the global economy and promote women’s economic empowerment.
He then participated in an armchair discussion at the Canada-India Business Forum before
attending an event with members of the Indian film industry and a reception with business and community leaders.
Trudeau said: “As one of the world’s fastest growing economies, India offers exciting opportunities for Canadian businesses of all sizes. The partnerships announced today will create thousands of good, middle class jobs for Canadians, and are further proof of the ever-growing ties between our two countries.”
Merchandise exports to India totalled $4.18
billion in 2017, making India Canada’s seventh-largest destination for merchandise exports, while merchandise imports totalled $4.16 billion that same year.
Bilateral trade in services between the two countries reached $2.1 billion for 2016, an increase of 1.9 per cent over 2015. India is also Canada’s 10th-largest source of tourists and international visitors, with 224,000 visits made from India to Canada in 2016.