A recent report has highlighted the significant contribution of Indian businesses to the Canadian economy, amid efforts to strengthen economic relations between the two countries. The report shows that Indian businesses have invested CA$6.6 billion in Canada, leading to the creation of 17,000 jobs in the country. The findings come as India and Canada continue to explore opportunities for enhanced economic cooperation.
The report, which was released by the Asia Pacific Foundation of Canada, highlights the diverse range of Indian businesses operating in Canada, including those in the technology, manufacturing, and financial sectors. The study also found that Indian businesses in Canada tend to be highly innovative and create significant value for the economy.
The report’s findings are significant in light of recent efforts by India and Canada to deepen economic ties. The two countries have been engaged in negotiations over a potential Early Progress Trade Agreement (EPTA) which, if finalised, could significantly boost trade and investment between the two nations.
Commerce and Industry Minister Piyush Goyal has expressed optimism that an EPTA with Canada may be finalised later this year. The agreement would represent a major step forward in efforts to deepen economic relations between India and Canada, and could lead to increased investment and job creation in both countries.
The report highlights the valuable contribution of Indian businesses to the Canadian economy, and underscores the potential for increased economic cooperation between India and Canada. With negotiations over an EPTA ongoing, there is significant potential for further growth in trade and investment between these two important nations.