Canadian cos asked to invest in India for profitable business

Canadian cos asked to invest in India for profitable business
PTI
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First Published: Thu, Feb 21 2008. 02 28 PM IST
Updated: Thu, Feb 21 2008. 02 28 PM IST
Ottawa (Canada): Canadian companies seeking an increase in profits ought to make strategic investments in India, Ontario Minister of Small Business and Entrepreneurship Harinder Takhar has said.
He asked Canadian companies to work with the province to make investments in India in infrastructure, research and development, wine, auto and food processing sectors that would go a long way to “make our economy more competitive and productive”.
Takhar urged business leaders to take a serious look at the opportunities that India offered for public private partnerships and joint ventures with other private companies.
“But you need patience to do business with India, and Ontario trade office in New Delhi and organisations like Canada-India Business Council and Indo-Canada Chambers of Commerce could help in getting the right business partner,” the minister said.
Inaugurating the ‘Telfer India Forum´ at the University of Ottawa, he suggested that doing business in India can also be cost-effective.
Meanwhile, inviting Indian companies to invest in Ontario, the minister said that “Ontario ranked as having lowest business costs when compared to other locations worldwide.”
He appreciated the contributions made by Indian companies in boosting Canadian economy. The Aditya Birla group has generated more than 3,500 jobs in the province, he said.
A large number of Canadian companies attended the function organised by Telfer School of Management of the University; Indo-Canada Ottawa Business Chamber and others.
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First Published: Thu, Feb 21 2008. 02 28 PM IST