Ottawa/Mumbai, May 3 (Canadian-Media): Todd Smith, Minister of Economic Development, Job Creation and Trade, on behalf of the Government of Ontario, completed a business mission to India, media reports said.
Ontario’s jobs are the most export reliant in Canada with 1 in 5 workers, or 1.3 million people, dependent on exports.
With a mission to promote Ontario as a premier destination to invest and do business with, Smith, during six days in India, met with various businesses, investors and stakeholders across the agri-food, automotive, infrastructure, information and technology, and education sectors in New Delhi, Bangalore and Mumbai.
"Our government's number-one priority is to ensure that Ontario is open for business and open for jobs," said Smith. "India represents the world's seventh largest economy and boasts a population of 1.3 billion people. As one of the fastest growing economies in the world, there are numerous investment, skill development and export opportunities for Ontario."
During the business mission, Smith brought Ontario's open for business, open for jobs message to business leaders across sectors that demonstrate a high degree of trade and investment potential for Ontario.
There are approximately 60 Indian companies across all sectors that have operations and investments in Ontario and approximately 830,000 Ontarians are of Indian origin. There were around 21,000 Indian postsecondary students in Ontario in the 2016/2017 school year. More than 171,000 Indian tourists visited Ontario in 2018.
Ontario's large agri-food industry puts Canada as the fifth largest agricultural exporter in the world. The Indian automotive sector has the potential to generate up to US$300 billion in annual revenue by 2026. With hundreds of planned infrastructure projects on the horizon, India can benefit from Ontario's internationally recognized construction and technology designs. India's information and technology sector is set to reach US$350 billion by 2025, making it the largest sourcing destination for IT. Ontario, home to one of North America's largest financial services sectors. The Skill India campaign seeks to train over 500 million people in India with a diverse range of skills by 2020.
"I look forward to continuing a long and prosperous partnership between Ontario and India," said Smith. "Businesses choose the place that will offer them the best conditions to grow. This week I delivered the message that Ontario is that place."