Trudeau Touts Canada-India Investment Deals Worth $1B


"I'm hopeful that this meeting will help strengthen the close Indo-Canadian business ties as well as the deep-rooted people-to-people relations between our two countries", Singh said in a Twitter post.

Justin Trudeau and Chanda Kochhar on Tuesday at the Canada-India Mumbai Business Forum.

Kochhar said the women leaders at the meeting chose to come out with a pledge for companies, where they will commit for increasing the particpation of women in every economic activity.

The government-funded CBC put it this way: "Canadian and Indian companies have signed 66 new contracts worth $1 billion in total in a deal expected to create 5,800 jobs in Canada". India will invest $250 million in Canada.

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Canadian Prime Minister Justin Trudeau's first official visit to India is generating plenty of publicity, but for all the wrong reasons.

On Wednesday, he will meet the chief minister of the northern Indian state of Punjab who has in the past said he was concerned about Sikh groups in Canada trying to revive an independent state called Khalistan. "We support one united India", Trudeau was quoted as having said in a reply to a query from a Canadian journalist in Mumbai. "The lion's share of that Canadian investment is Brookfield's acquisition of a Mumbai office complex now owned by an insolvent Indian company".

The meeting was held at the Taj Mahal Palace Hotel.

In 1985 the violence spilled over into Canada, when Sikh separatists bombed an Air India plane that had taken off from Toronto airport, killing all 329 people aboard, including numerous Canadians of Indian descent.

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However, he said Canadians seem increasingly aware of the rise of Asia and India's importance and the Canada brand in India is growing.

And I think on the Indian side, for the longest time there was a sense that Canada is this distant country, and we are only about natural resources and commodities.

Industrialist Kumar Mangalam Birla, who had a private meeting with Trudeau, spoke in glowing terms of his experience investing in Canada. "It is not just Canada that is diverse, but other countries around the world as well". "It is an economic imperative.We want a pledge to say that we would encourage more and more women participation in every field of activity", she said.

Hey, but it was a $1-billion deal remember? Kochhar said these "huge" structural reforms - including a new goods and services tax to simply the tax system, a bankruptcy court and more transparency - have had a big impact on making it easier to do business in India.

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