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Ottawa, Oct 11 (Canadian-Media): India's Prime Minister Narendra Modi said during his inaugural address of the virtual Invest India 2020 Conference organised in Canada on October 8, 2020 that trade and investment linkages, which form an integral art of the multi-faceted relationship drive India-Canada bilateral ties by shared democratic values and many common interests.
Narendra Modi. Image credit: Facebook page
Invest India is an annual conference organised by Fairfax Financial Holdings Ltd. in association with CIBC and other leading Indian and Canadian private sector players, which brings together investment and industry leaders from India and Canada with a focus on the investment and trade potential between India and Canada.
With a political stable India, with his investment and business friendly policies, skilled talent pool, has shown resilience, despite the pandemic to emerge as a land of solutions and opportunities.
Besides providing relief and stimulus package for poor and the small businesses, said Modi, India has liberalised its Foreign Direct Investment (FDI) policies, created a friendly tax regime for Sovereign Wealth and Pension Funds and has significantly reformed its robust Bond market. Besides, said Modi, India has monetized assets across various sectors, such as Airports, Railways, Highways, Power Transmission lines, etc.
Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) have been fully enabled for monetization of assets.
Complimenting Prem Watsa, Chairman and CEO of Toronto based Fairfax Financial Holdings for creating this forum, Modi said that he was glad of the exposure of Canada's investors and businesses to the investment and business opportunities in India.
Embarking on a journey of deregulation and decriminalisation of various offences under the companies act, India has also brought reforms in the field of education, labour and agriculture.
Modi said that with some of its largest pension funds and mature funds, Canada had invested over US$ 50 billion in India in a range of sectors and concluded India, being a place where Canada could look for partners in the field of education, invest in manufacturing or services and collaborate in the field of agriculture.
Canada-India Relations. Image credit: Facebook page
"India’s vibrant democracy and conducive ease of doing business environment make it an attractive investment destination", said India PM Narendra Modi
Speaking about the upward trajectory of India-Canada bilateral relations, the High Commissioner of India to Canada, Ajay Bisaria spoke about the the growing Canadian investments in India, to create investment friendly climate and the opportunities available for Canadian companies in India.
A range of issues concerning India-Canada commercial relationship, the High Commissioner of Canada to India, Nadir Patel said, which would be worth $100 billion in the coming years, for Canadian and Indian investors and companies to succeed and continue to thrive in both markets.
Several India success stories and detailed reforms introduced by Government of India to attract investments then followed.
This year, due to COVID-19 pandemic, the event was held virtually. More than 3000 investors, business entities, Chambers of Commerce and influencers from Canada and India participated in the various sessions. Prime Minister's inaugural remarks were broadcast live on digital media and attracted an audience of more than 50,000 people.