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Canada invites Indian investment for greater economic, academic ties
"Canadian companies are experienced and capable in engineering and constructing roads, bridges, railways, ports and airports besides providing financing and expertise in private-public partnership (PPP)", said David Johnston, Governor General of Canada at a joint business meeting held in New Delhi today.

Addressing a joint meeting under the aegis of industry bodies Assocham, CII and FICCI, David Johnston, Governor General of Canada also acknowledged the several important spheres of collaborations one is food security and agriculture, in which Canada already plays a significant role here in India. Canada is also helping India meet its food security objectives. The opportunities exist to collaborate in food storage and processing, as well as in cold chain distribution.

?Energy security is another area in which we are working together. Canada supplies India with a modest but growing supply of petroleum, and great potential exists for Canada to become a supplier of Liquefied natural gas (LNG). We also have expertise in nuclear, hydro, solar and wind energy?, added Governor General of Canada at the business meet.

Canada is delighted with the entering into force of the Canada-India Nuclear Cooperation Agreement, which will allow our firms to work together to supply materials, equipments and technology, said the Governor General.

Canada Investment in India, total $644 million, while Indian investment in Canada is valued at $ 3.7 billion in areas such as education and innovation, infrastructure, and food and energy security, said David Johnston.

In his welcome address Rana Kapoor President Assocham said, ?India and Canada are nations built on shared values that celebrate democracy, inclusiveness and diversity. As India navigates a significant economic transformation, we truly believe that Canada, with its advanced technologies & industries can truly support the rapidly growing Indian economy to maintain its robust economic growth rate. This will also provide Canadian MNC's sustainable and high growth potential opportunities as compared to their traditional trading partners?.

Canada has a vibrant community of approximately one million Indo-Canadians and India?s demographic profile and human capital are favourable for Canadian businesses. There is a tremendous scope for co-operation in Healthcare, Education and R&D in Agri business between both countries.

With India allowing 100% FDI in power units & proposing 10th round of Oil & Gas auctions, there are immense prospects for Canadian companies in this sector. Further, with Indian oil and gas firms also looking to increase their investment in Canadian Hydrocarbon sector, both Nations must partner in state of the art technologies like Shale gas for reliable, secure and environmentally responsible energy sources, added Kapoor.

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