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Business News/ News / World/  Narendra Modi’s Canada visit generated business worth 1.6 bn Canadian dollars
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Narendra Modi’s Canada visit generated business worth 1.6 bn Canadian dollars

Sixteen commercial deals were made by Canadian and Indian firms during Narendra Modi's visit earlier this week

Modi’s trip to Canada was the first bilateral visit to that country by an Indian prime minister in 42 years. Photo: ReutersPremium
Modi’s trip to Canada was the first bilateral visit to that country by an Indian prime minister in 42 years. Photo: Reuters

Toronto: Prime Minister Narendra Modi’s visit to Canada has generated business worth more than 1.6 billion Canadian dollars, according to official figures released by the Harper government here.

Sixteen commercial agreements and announcements were made by Canadian and Indian companies and organizations during Modi’s visit earlier this week. The commercial agreements and announcements have a combined value of more than 1.6 billion Canadian dollars, Canadian Prime Minister Stephen Harper’s office said in a statement. The announcements cover a wide range of sectors, including aerospace and defence, education, energy, mining, infrastructure, sustainable technologies, information and communications technology.

The agreements further demonstrate the significant growth taking place in the Canada-India bilateral commercial relationship, the statement said.

“One commercial agreement involving Saskatchewan-based Cameco will see the company supply India with over seven million pounds of uranium over the next five years. This deal was made possible due in part to the Canada-India nuclear cooperation agreement negotiated by our government," it said.

Harper also welcomed Prime Minister Modi’s announcement that India will issue visas upon arrival, which will make it easier for Canadians to travel to India. Harper and Modi welcomed the progress made on negotiating a bilateral foreign investment promotion and protection agreement and agreed to intensify discussions to finalize all outstanding issues. The two Prime Ministers also participated in several cultural events where they met with members of Canada’s Indo-Canadian community. During these events, Harper paid a tribute to the tremendous contributions the Indian-origin community continues to make to Canada’s social, cultural and economic landscape. PTI

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Published: 18 Apr 2015, 10:45 PM IST
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