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  • 17 May 2018 6:00 PM | Mayank Bhatt
    US tax and trade reforms will affect Canadian jobs: CIBC’s Roy Mendes
     
     
     ICCC and CIBC teams

    The Indo-Canada Chamber of Commerce (ICCC) in collaboration with the CIBC organised the annual state of the economy talk at the Courtyard by Marriott in Brampton on May 17. Roy Mendes, Director and Senior Economist, CIBC made a presentation on global economic trends.

    In his introductory remarks, Kanwar Dhanjal, President, ICCC, said that the relationship that the ICCC and the CIBC have developed over the years has benefitted both the institutions. Venki Raman of the CIBC in his remarks welcomed the CIBC clients, the ICCC members, and other guests to the program. He said the CIBC was proud to be ICCC’s lead sponsor.

    Roy Mendes in his presentation covered the global economy and focused on specific areas of the Canadian economy. The global economy has experienced 3.6 % growth and Canada has experienced 3 % growth. “We have come all the way back from the days of recession. We may have a little less growth in the future,” he said.

    Speaking about the upsurge in the US economy, Mendes said, the economic expansion has been one of the largest and most sustained. In terms of the GDP per capita, we will have a couple of good years before we hit recession again. It will be in 2020 when we get a headwind from fiscal and monetary policies.  

    This is now the second largest expansion in the US history. Donald Trump’s recent tax reformation and tax cut will be fuel of growth and the tax cut is the eighth largest tax cut in US history. The growth impetus is good. But while the US economy will definitely improve, it will in fact give rise to a larger trade deficit, and that may lead to a more drastic line on trade policy by the US President.

    He said that it is estimated that nearly three quarters of a million to a million Canadian jobs would be lost to the US economy because of the US tax and trade policy reforms.

     
     CIBC team

    About the ongoing tariff war between the US and China, Mendes said, the $150 billion tariff on Chinese imports by the US will lead to retaliatory action by China on US imports. For instance, the import tariff on soya beans that China has levied on US imports. This will give rise to an opportunity for Canada.

    Speaking about the predominant sector of the Canadian economy, Mendes said, “What we are facing in the oil and gas sector in Canada is a constraint in terms of both capacity and investments. We may not be doing too well in the next two years.”

    He said the volatility in oil prices will continue but it won’t necessarily help Canada. Even if the US imposes fresh sanctions on Iran, its oil exports to India, China, Turkey will continue as at present making little or no dent to its oil production. Transportation of oil down south through pipelines and through railroad is mired by political and logistical bottlenecks.

    On the ongoing NAFTA negotiations, he said that If the NAFTA is not signed, Canada will revert to the WTO defined most favoured nation status in its trade with the US. But the US is selectively targeting industries where Canada has an advantage – such as aviation (Bombardier), oil pipeline, paper and pulp and lumber.

    Mendes was of the opinion that NAFTA appears to be a 2019 story and the continued indecision will affect small businesses. And it will also affect investment decisions, with more corporations preferring to stay invested in the US. To add to this is the overall reformed tax regime in the US, which is making the US economy more attractive for investors.

    Interest rates in Canada will continue to rise and this will affect consumers drastically. It has been estimated that a one percentage point rise in the interest rate will affect consumer spending by nearly 50 percent. Interest rate hike will also affect the housing market more this time around than before. The housing market has been able to rise three times after facing a contraction because of interest rate hike. However, it will take longer to recover the next time.

    Markets have been on the decline but are expected to recover within the next two to three years. Inflation is steadily rising from 2 to 2.5 percent but what is new this time is that the inflation is rising because of artificial factors such as wage rise.

    The presentation was followed by a lengthy Q&A.

       
     Naresh Chawda, Kanwar Dhanjal, 
    Venki Raman and Pramod Goyal
     CIBC officials and clients 
       
       
     Venki Raman, Imtiaz Seyid, 
    Kanwar Dhanjal & Sudhir Anand
    Venki Raman and Kanwar Dhanjal 
    with CIBC officials

     


    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: 416-224-0090. 

    Fax: 416-916-0086. 
    E-mail: iccc@iccconline.org 

    Website: www.iccconline.org



  • 15 May 2018 6:00 PM | Mayank Bhatt
    Interactive Session on Federal Economic
    Policies for SME Sector 
     
     
     ICCC Board of Directors with MPs Hon. Ruby Sahota and Hon. Bob Saroya

    The federal government is working to ensure that the fiscal deficit will stay manageable and will not adversely affect the common taxpayer in future, said Hon. Ruby Sahota, Member of Parliament (Brampton North) recently at the Indo-Canada Chamber of Commerce (ICCC) program.

    Sahota was among a group of Canadian Members of Parliament that included Robert Fonseca (Mississauga East – Cooksville) and Bob Saroya (Markham-Unionville) who participated at an interactive session organised by the Indo-Canada Chamber of Commerce (ICCC) on May 15 for small and medium enterprises.

    This is the first occasion when the ICCC has organised a non-partisan event where Members of Parliament from both the parties participated. Sahota and Fonseca are Liberal MPs and Saroya is a Conservative MP.

    Sahota reassured the participants at the session that the federal government was conscious of the decisions it was implementing and was focused on providing a growth impetus to the economy. She emphasized that it was through deficit financing that the government had been able to ensure rapid recovery of the economy after the slump that the Canadian economy had experienced in the last decade and the early years of this decade.

    Speaking on the occasion, Hon. Peter Fonseca, who is also a member of the Parliamentary Standing Committee on International Trade, said that the Canadian federal government is focused on assisting small and medium businesses. To that effect, the government has taken several significant measures to alleviate the pressures of fiscal and monetary contraction in an economic regime where the interest rates are likely to rise steadily.

     
     Peter Fonseca, MP, Mississauga East-Cooksville & Member, Parliamentary Standing Committee of International Trade

       
       
     Naresh Chawda and Ruby Sahota  Pradyuman Jhala & Pranav Patel with Bob Saroya
       
       
     Pramod Goyal with Bob Saroya  Devika Penekelapati, Peter Fonseca,
    Kanwar Dhanjal & Ruby Sahota
       
       
     Gursharan Kandra, Bob Saroya and Rakesh Joshi  Sanjay Brahmbhatt and Peter Fonseca
       
       
     Pawan Chankotra, Bob Saroya, Rakesh Joshi and guest  Renu Chauhan, Kanwar Dhanjal, & Peter Fonesca
    He expressed confidence that the ongoing negotiations on the North American Free Trade Agreement (NAFTA) would be concluded satisfactorily and to the benefit of all the three nations that are signatories to the treaty.  Fonseca informed the participants that NAFTA had been revised on several occasions since it was signed in 1993, adding that it needs modernisation to reflect the transformation the global economy had undergone in the last two decades.

    Bob Saroya, the Markham-Unionville MP, said that small businesses are the backbone of the Canadian economy and the mainstay of newcomers to Canada. He said immigrants became small entrepreneurs and contributed strongly to the economy by creating employment opportunities for other Canadians.

    In his remarks, Kanwar Dhanjal, President, ICCC, said, the growth of small businesses is dependent upon the following six factors: Regulatory Framework, Market Conditions, Access to Finance, Knowledge Creation and Diffusion, Entrepreneurial Capabilities, and finally the entrepreneurial culture.

    The session had a prolonged Q&A session where participants who were mostly small and medium business owners, asked questions pertaining to their own operations as well as questions on policy matters. The questions pertained to financing, globalisation, taxation, innovation and skilled labour shortage.

     
     Participants at the interactive session


    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: 416-224-0090. 

    Fax: 416-916-0086. 
    E-mail: iccc@iccconline.org 

    Website: www.iccconline.org



  • 15 May 2018 9:00 AM | Mayank Bhatt
    ICCC Newsletter  
     
    May 2018  
                                                                  
    Letter from the President
     
     Kanwar Dhanjal

    It is time to start preparing for the Indo-Canada Chamber of Commerce’s Annual Awards and Gala Night. The Advisory Board is scrutinizing the nominations the Chamber has received in different award categories. It is an arduous task and the independent Advisory Board performs it with zeal and dedication. The venue of the Annual Awards and Gala Night has been changed to a brand new location – the Paramount Eventspace in Woodbridge.

    The change in venue signals a new direction. The Chamber’s new leadership is conscious of utilizing precious public resources with utmost judiciousness. As a part of new strategy, we have also consciously focused on qualitative programming instead of having a large number of events, and this has definitely resulted in a shift of paradigm in terms of overall utilisation of resources that our sponsors, who are our partners in success, entrust us with annually.

    The Chamber continues with the tradition of celebrating the achievements of Indo-Canadians at the Annual Awards and Gala Night, which is one of the biggest events in the annual calendar of the Indo-Canadian community. For the Chamber’s leadership, it is that one event where we pull all stops and go forward with renewed determination and dedication to achieve the primary objectives of the four-decades-old institution namely fostering bilateral trade ties between Canada and India and create opportunities for the entrepreneurial and professional members of the community.

    I’m sure all of you are eager to know how this year’s awards will pan out. Let’s continue with our hoary tradition of making the Chamber’s Annual Awards and Gala Night a grand success. I invite you to buy your tickets and tables for this grand event scheduled for Sunday June 17, 2018. You may buy online or call the Chamber’s office.  I look forward to seeing you at the event and enjoy an entertainment-filled evening with speeches by key decision-makers and the honouring of our community’s brightest.
     Click here to read the: Letter from President
    ICCC Annual Awards 2018
    (Sunday, June 17, 2018)
     
    ICCC's Annual Gala is a premier business event for all Indo-Canadians, hosting more than a thousand guests. 

    Leading entrepreneurs, professionals, decision-makers in the government, and academics attend the event. 

    The evening promises to be an enthralling mixture of entertainment, awards presentations, and speeches by eminent public figures. 

    It is our marquee event that celebrates the promotion of trade and commerce between Canada and India and recognizes the achievements of Indo-Canadians from across Canada by way of an award presentation. 

    We cordially invite you to participate or sponsor this distinguished event or by buying a ticket or a table for 10. 

    Click here to buy tickets: 2018 Gala 

    The theme of this year gala is: Rise of Digital Era: Excellence in Changing Time

     
    The coordinates are
    Date
    Sunday, June 17, 2018
       
    General reception 5:30pm
    Doors Open 6:30pm
    Program Starts 7:00pm
    Dinner 8:00pm
    Awards Gala & Entertainment continues 9:00pm
       
    Dress Code Black Tie / Business Formal
       
    Venue

    Paramount Eventspace


     
    Address  222 Rowntree Dairy Rd, Vaughan, L4L9T2
     
    Ticket information
    Tables
                                                                            
    Corporate
    $3,000
    Regular
    $2,000
        
    Tickets
    Regular Ticket - members $199                                                
    Regular Ticket - non-members
    $249
    VIP Ticket - members $299
    VIP Ticket - non-members $349
       
    Combo  
    Corp table +full page ad  $4,500    
       
    Advertising in Annual Magazine
     
       
    Full Page Ad  $ 2,000
    Half Page Ad  $ 1,250                                                     

    13% HST is applicable. Buy your tickets online, click here: 2018 Gala 

    For advertising & combo packages call ICCC office at 416-224-0090.

    For booking of your table, advertisement or any other inquiry you may contact any of the board member or ICCC office. 

     
    Insight
     
    Pipeline obstructionism costing Canada billions 
     
    By Elmira Aliakbari & Ashley Stedman 
     

    The recent decision by Kinder Morgan, one of the largest energy infrastructure companies in North America, to halt all “non-essential spending” on the Trans Mountain pipeline expansion—which would run from Alberta, through British Columbia, to the coast—made headlines across the country.

    Stories have focused on inter-provincial rivalries and trade wars. But an often ignored or misunderstood aspect of the pipeline debate is how much Canadians lose by not having sufficient pipeline capacity to deliver our oil to market. According to a recent Fraser Institute study, Canadian oil producers will lose $15.8 billion in revenue this year. More on that in a moment.

    Despite increased oil production in recent years, Canada has been unable to build any new major pipelines due to the cancellation of the Northern Gateway and Energy East projects, and ongoing delays in the Trans Mountain expansion, Line 3 replacement project and Keystone XL.

    Take the Trans Mountain pipeline expansion, for example. The B.C. government continues to oppose the project, despite regulatory approval, and is pursuing legal means to regulate the movement of diluted bitumen through its territory. Such political opposition raises serious concerns about whether the pipeline will actually be built.

    Click here to read the speech: Insight
     
         
     EDC Trade Insights  Export Guide BDC Business Desk 

    Download
    Step-by-Step Guide to Exporting

     
    Click here for more:  Click here to download:  Click here for more: 
     Trade Insights  Trade Commissioners' Service Export Guide Business Desk 

    Business Snippets   Programs & Events   Global Tenders

           
    A brief summary of the most
    significant economic news
    during recent days.




     

    A quick recap of the recent
    & forthcoming ICCC 
    programs and events






      A list of latest
    Global Tenders
    floated by the
    Government of India.




    Click here for more: 
    Business Snippets
      Click here for more: 
    Programs and Events
      Click here for more: 
    Global Tenders

     
    Avail all the benefits that you are entitled to as a member, click here to visit our Affinity programs: Affinity
     
    Advertising, Outreach, Social Media

    Information about Indo-Canada Chamber of CommerceXXXXXXXXXXX

    • Membership
    • Advertising
    • New Initiatives
    • Social Media
    • Disclaimer
      To read more, click here: About Newsletter


     A big Thank you to all our Sponsors: Click here to meet our 2017-18 Sponsors: 
    ICCC's 2017-18 Partners in Success 


    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: 416-224-0090. 

    Fax: 416-916-0086. 
    E-mail: iccc@iccconline.org 

    Website: www.iccconline.org


  • 16 Apr 2018 9:00 AM | Mayank Bhatt
    ICCC Newsletter  
     
    April 2018  
                                                                  
    Letter from the President
     
     Kanwar Dhanjal
     
    On the cusp of change
     
     Forming a future together

    The main reason the Indo-Canada Chamber of Commerce (ICCC) celebrates the Annual Awards and Gala Night is to recognise members of the Indo-Canadian community for their achievements in different domains of public life. The Chamber has been honouring individuals for the last two-and-a-half decades, and those honoured have gone on to conquer other peaks in their splendid career.

    Two key reasons for the celebration of the Annual Awards at the Gala Night by the Indo-Canada Chamber of Commerce is to foster bilateral commercial, trade relations between Canada and India, and create business and professional opportunities for Indo-Canadians. Our Chamber began this epochal celebration at a time when the population of Indo-Canadians was miniscule, but today Indo-Canadians have crossed over 1.3 million and have scaled new peaks in all spheres of the Canadian mainstream.

    In recognizing the achievements of our compatriots, we remind our own and the Canadian mainstream of the rapid strides we have taken as a community in contributing to the fabric of the Canadian society. As an emerging voice of significance in the Canadian society, the Indo-Canadians have been instrumental in channeling Canadian and Indian relations in the right direction and have brought it to a cusp of a change that will transform it into something that will benefit both Canadians and Indians.

    Indo-Canadians have been working at founding a future together. And in this endeavour, the Indo-Canada Chamber of Commerce (ICCC) has been in the forefront to create a better environment. Canada-India relations have been steadily rising at every level – economically, culturally, politically and in every possible way. During the recent visit of The Rt. Hon. Justin Trudeau, the Prime Minister of Canada to India in February 2018, both the countries reiterated their commitment to continue on their path of cooperation and collaboration.

    The Indo-Canada Chamber of Commerce (ICCC) will continue to foster bilateral relations between Canada and India and continue to promote the interests of Indo-Canadian entrepreneurs and professionals. We will continue to recognise the achievements of Indo-Canadians because their achievements are a reflection of our collective gains.

     Click here to read the: Letter from President

    ICCC Annual Awards 2018

    This time of the year is when our Chamber receives nominations for the Indo-Canada Chamber of Commerce’s Annual Awards. It is a glorious tradition that launched more than 25 years ago when the ICCC began honouring achievers with its annual awards. Over the years, the awards have become coveted and prestigious. We continue to honour exceptional Indo-Canadians in eleven categories and an independent advisory board decides who wins in each category. 

    Over the years, the awards have grown to encompass many spheres including entrepreneurs, professionals, technology, corporate executive, young achiever, humanitarian, lifetime and of course the member award. What is equally pertinent is that the ICCC has been among the first organisations to acknowledge crucial role that women play in all spheres and have been awarding women entrepreneurs and professionals for several years. The selection process has remained stringent and on occasions, a category has gone unrepresented when the advisory board has not found any suitable candidate in a particular category.

    One of the most amazing aspects of the ICCC Annual Awards is that the awardees recognised by the ICCC subsequently go on to achieve greater glories. In that sense, the ICCC has been a talent spotter, especially in the spheres of young achievers and technology awards categories, and no less important is the role of the awards in bringing to the attention to the mainstream of the Canadian society.

    The Annual Gala and Awards Night is a marquee event where we promote trade and commerce between India and Canada and recognize the achievements of Indo-Canadians from all across Canada by way of an award presentation. The Advisory Board independently chooses the award recipients in the following Award categories:

    Two additional awards are presented – the President’s Award, for unsung heroes, and the Members’ Award, for voluntarism and community services.

    Please find time within the next couple of weeks and nominate a deserving person – whether an entrepreneur, a professional or a social entrepreneur who has served the humanitarian cause or someone who has contributed to the community on a sustained basis over the decades. Send your nomination on or before 30 April, 2018, with all the relevant documentation to the Indo-Canada Chamber of Commerce for consideration by the advisory board.


    Insight

    All Eyes on NAFTA
     
     By Stephen Tapp
     
     Deputy Chief Economist

    There’s no doubt Canadian businesses are watching negotiations of the North American Free Trade Agreement (NAFTA) closely. Some key negotiation rounds have triggered a spike in online searches for information on NAFTA (see figure). It’s likely we’ll see another surge of search activity as negotiators return to Washington to engage in the latest high-level talks. It’s hoped, after all these months of back-and-forth, negotiators can reach an agreement-in-principle.

    There’s added urgency now. If a new NAFTA deal is going to be reached in 2018, it must happen soon. If not, several complicating factors could shift negotiating positions and cause further delays:

    If NAFTA isn’t concluded by May 1st, the exemption for Canada and Mexico on U.S. steel and aluminum tariffs could expire.

    July 1st is Mexico’s general election.

    Also on July 1st, unless it’s renewed, the U.S. trade promotion authority (TPA) is due to expire. This would leave the U.S. without a legal negotiating mandate. (TPA gives Congressional guidance to the president on trade policy priorities and negotiating objectives).

    In November, the U.S. holds midterm elections.

    Negotiating parties know what’s looming and they’re pushing to wrap up talks quickly before things get more complicated.
     
    Click here to read the speech: Insight
     
         
     EDC Trade Insights  Export Guide BDC Business Desk 

    Download
    Step-by-Step Guide to Exporting

     
    Click here for more:  Click here to download:  Click here for more: 
     Trade Insights  Trade Commissioners' Service Export Guide Business Desk 

    Business Snippets   Programs & Events   Global Tenders

           
    A brief summary of the most
    significant economic news
    during recent days.




     

    A quick recap of the recent
    & forthcoming ICCC 
    programs and events






      A list of latest
    Global Tenders
    floated by the
    Government of India.




    Click here for more: 
    Business Snippets
      Click here for more: 
    Programs and Events
      Click here for more: 
    Global Tenders

    ICCC app
    Download ICCC phone app and stay connected on the go! 
     

     
    Avail all the benefits that you are entitled to as a member, click here to visit our Affinity programs: Affinity
     
    Advertising, Outreach, Social Media

    Information about Indo-Canada Chamber of CommerceXXXXXXXXXXX

    • Membership
    • Advertising
    • New Initiatives
    • Social Media
    • Disclaimer
      To read more, click here: About Newsletter


     A big Thank you to all our Sponsors: Click here to meet our 2017-18 Sponsors: 
    ICCC's 2017-18 Partners in Success 


  • 09 Apr 2018 9:00 AM | Mayank Bhatt
    Turkish Airlines comes on board 
     
    to become
     
    ICCC's Gold Sponsor 

     
     

    The Indo-Canada Chamber of Commerce (ICCC) is proud to announce that Turkish Airlines, has joined the Chamber as a Gold Sponsor.

    Announcing this major initiative, Kanwar Dhanjal, President, Indo-Canada Chamber of Commerce (ICCC) said, “The board of directors is proud to announce the coming on board of the Turkish Airlines as the Chamber’s Gold Sponsor.” Pramod Goyal, the Vice President and Director of Finance and Sponsorship, who was instrumental in getting the sponsorship, said, “Turkish Airlines is a premier brand, and it is for the first time that we have a sponsor from a country other than Canada or India joining our band of sponsors.”

    The sponsorship agreement was signed between ICCC’s Dhanjal and Goyal, and Turkish Airlines’ General Manager, Zafer Bolukbasi. Also present on the occasion were Ayhan Ugur, Sales Manager, and Tarique Anwar, Regional Corporate Sales Manager at the Turkish Airlines’ office in downtown Toronto.

    Speaking on the occasion, Zafer Bolukbasi, said, “We are looking forward to a fruitful association with the Indo-Canada Chamber of Commerce, and are hopeful that we will be able to introduce the fascinating destinations in Turkey that are culturally so enriching.” Mr. Bolukbasi is a veteran at the Turkish Airlines, having worked with the airline since 1994. He has been the General Manager of the Toronto office since 2015, and was earlier the General Manager in Cape Town, South Africa and Switzerland.

    His colleagues Ayhan Ugur and Tarique Anwar also emphasized that Turkish Airlines offers multiple destinations in India at extremely competitive rates, which the members of the ICCC will find beneficial.” Tarique added, “We are excited to partner with ICCC and are proud to have their support”.

    Turkey's ‘rising star’, Turkish Airlines started its journey in 1933 with just five aircraft. A Star Alliance partner, today it serves with a passenger and cargo fleet of 326 aircraft and with the same excitement and enthusiasm just like the first day after all those years. The substantial growth it has achieved has put Turkish Airlines among the top airlines of the world. Reinforcing this prominent position and energy with its significant growth figures and innovative approach, Turkish Airlines has always put its signature under important successes in the sector. While flying to over 302 destinations in Europe, Asia, Africa, and the Americas, Turkish Airlines is the largest carrier in the world by number of destinations”. The Airline flies to major destinations in India.

    Pramod Goyal also said that he is working with the Turkish Airlines team to have certain Corporate Club benefits such as discounted fares, free of charge re-routing and re-booking, excess baggage etc. etc. extended to Chamber members, for which a formal announcement is expected to be made in coming weeks.

    For more information on Turkish Airlines, visit www.turkishairlines.com


  • 29 Mar 2018 6:00 PM | Mayank Bhatt
    ICCC's Trade & Commerce Committee's seminar
     
    Global Market Trends 
    Building Capacities & Growing Markets
     
     
    Sanjay Brahmbhatt, Athar Shah, Kanwar Dhanjal and Saifullah Khan, Consul Commerce, CGI Toronto

       
     Participants  Participants with ICCC directors
     

    The Indo-Canada Chamber of Commerce (ICCC) organised a seminar on Global Market Trends – Building capacities and growing our markets at home and abroad. Athar Shah of the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) made a presentation with special focus on Ontario’s Agri Food sector and an overview on emerging export markets.

    The Trade and Commerce Committee of the ICCC organised the program that saw the participation of a large number of members keen to learn the various ways in which they could explore the global market. For the first time ever, the program was narrow-casted through a live stream on social media. In addition, in an unprecedented move, three of the committee members of the Trade and Commerce Committee Keyur Patel, Kashyap Patel and Umesh Patel became life members of the Chamber.

    Mr. Sanjay Brahmbhatt, the chair of the committee, welcomed the participants and introduced the speaker of the evening. Mr. Kanwar Dhanjal, President, ICCC, delineated the measures of trade promotion undertaken by the ICCC in recent months, as well as the plans for the next few months.

    Mr. Ajay Tandon, VP, Program and Events, was the master of ceremonies for the evening’s program which also saw participation by Mr. Nareshkumar Chavda, ICCC’s Corporate Secretary and VP Membership and Government Relations; Mr. Pramod Goyal, ICCC’s VP Finance and Sponsorship; Mr. Pradyuman Jhala, Director, Small and Medium Enterprises. Mr. Arun Srivastava, the Immediate Past President of the ICCC was also present.

     
     ICCC Trade & Commerce committee members with Kanwar Dhanjal and Naresh Chavda
     
     
     
    Naresh Chawda, Pradyuman Jhala, Saifullah Khan, Mokshi Virk 

    In his presentation, Mr. Shah provided detailed information about Ontario’s agriculture, food and beverages processing, agro-food export, environmental and clean technology industries. Mr. Shah is responsible for the domestic management of Ontario Bakery, Milling, Ingredients, Edible Oils and Cereal sectors while additionally supporting investment attraction and export development in the Middle East and North Africa (MENA) region as a Senior Advisor.

    Some of the key highlights of the presentation were:

    • The agri-food sector is a major player in Ontario's economy. It currently generates $34 billion a year in gross domestic product (GDP) and sustains 740,000 jobs - about one in every nine jobs across the province. Expanding the export growth of the province's agri-food businesses is part of the government's plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs.
    • Ontario Exported $14.9 Billion in Agri-Food Products in 2017 ($14.8 in 2016) up 0.8 Billion

    • Ontario’s top five exports from the sector are:

    Grain Products – 18.23% $3,417,535,359 (73% Baked Goods, 10% Mixes & Dough, 9% Cereal and 8% Other)

    Meat & Protein – 8.41% $1,576,094,292 (25% Beef (Fresh/Chilled), 20% Pork (Fresh/Chilled), 20% Pet Food)

    Fresh & Processed Vegetables – 7.55% $1,415,567,204 (25% Fresh Tomatoes, 24% Other Vegetables, 17% Fresh Cucumbers)

    Oilseeds – 5.73% $1,073,426,310 (98% Soybean)

    Confectionary – 4.90% $919,076,685

    • Ontario is home to Canada’s greatest concentration of environmental and clean technology companies. According to the 2014 Canadian Clean Technology Industry Report, 35% of clean tech companies in Canada are located in Ontario — 10% more than in any other Canadian province.

    • Ontario's environmental sector (which includes clean tech) is worth an estimated $8 billion in annual revenues and $1 billion in export earnings. Canada's national clean technology industry revenue is $11.3 billion and projected to grow to $26 billion by 2018.

    Mr. Shah also spoke of the different funding options available to entrepreneurs keen to explore these sectors, and also explained in details the challenges that such endeavours are likely to face in the Middle East and North American market, for which he has the requisite expertise.

    A lengthy Q&A followed Mr. Shah’s presentation where different aspects of the emerging scenarios in these sectors were discussed.


    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: 416-224-0090 

    Fax: 416-916-0086. 
    E-mail: iccc@iccconline.org 

    Website: www.iccconline.org



  • 27 Mar 2018 10:00 AM | Mayank Bhatt
    ICCC signs MoU with CIPO
     
    ICCC's board meets Indian High Commissioner, 
    Canadian federal minister Hon. Chagger & Members of Parliament
    to discuss bilateral economic relations & promote small businesses  
     
     
    Kanwar Dhanjal, President, ICCC, signing MoU with CIPO's  Darlene Carreau

    The Indo-Canada Chamber of Commerce (ICCC) and the Canadian Intellectual Property Office (CIPO) signed a Memorandum of Understanding to establish a partnership between the two organisations to work together to increase awareness and use of Intellectual Property by Canadian businesses and innovators doing business, or planning to do business in India.

    The CIPO is a Special Operating Agency (SOA) of Innovation, Science and Economic Development Canada (ISED). CIPO is responsible for the administration and processing of the greater part of intellectual property in Canada. CIPO’s areas of activity include trademarks, patents, copyright, industrial designs and integrated circuit topographies. Its mandate is to deliver high quality and timely IP services to customers and to increase awareness, knowledge and effective use of IP by Canadians.

    The ICCC will host a series of conferences and workshops to encourage Canadian businesses and SMEs to trade with India, and CIPO will participate in the events to raise awareness of the importance of developing, protecting and leveraging IP assets to remain competitive in a global economy.

    Mr. Kanwar Dhanjal, President, Indo-Canada Chamber of Commerce (ICCC), signed the MoU on behalf of the Chamber during a recent trip to Ottawa in late March. Mr. Pradyuman Jhala and Mr. Rakesh Joshi, members of the board of directors, and Mr. Pawan Chankotra, COO, ICCC, accompanied Mr. Dhanjal on this trip. The ICCC delegation also held a series of officials meetings with high-ranking officials of the diplomatic corps and federal ministers and members of parliament.

       
     ICCC board with HE Swarup  ICCC board with Minister Chagger
       
       
     ICCC board with MP Sahota  ICCC team with MP Saroya

    The ICCC board members kicked off the Ottawa visit with a high-powered meeting with India’s High Commissioner to Canada, His Excellency Vikas Swarup. During the meeting, the board members discussed the different ways in which both the Indian High Commission in Ottawa and the ICCC could work together to promote bilateral relations between Canada and India. The High Commissioner promised to provide all necessary support to the different councils of the ICCC across Canada.

    HE Vikas Swarup expressed a keen desire to leverage the strengthening relations between Canada and India in the education sector considering that students from India contribute over $3 billion to the Canadian economy. He also said that when it will be signed, the Comprehensive Economic Partnership Agreement (CEPA) would be an important bridge builder for businesses in both countries to rapidly expand cooperation.

    The ICCC board also met Members of Parliament Bob Saroya and Ruby Sahota. During the meeting with Bob Saroya, the ICCC board mooted the idea of a panel discussion comprising four or five Members of Parliament to talk about issues of relevance to the membership of the Chamber. Such a direct conversation between policy makers and business owners would go a long way in enabling understanding the needs of small business owners. And during the meeting with Ruby Sahota, the board members discussed the direct conversation between policy makers and business owners to understand the needs of the businesses.

    During the meeting with Minister Bardish Chagger, the ICCC board discussed the different ways in which it could cooperate with the ministry to promote small business interests in the changing economic outlook in North America. “We discussed the different ways in which we could cooperate with the minister’s endeavour to create more opportunities for small businesses to start promoting manufacturing in Canada and to promote exports to strengthen trade ties with other countries,” Kanwar Dhanjal said.

    The board members also discussed the holding of a Hard Hats Tour for ICCC members to Communitech at University of Waterloo and sought the minister’s assistance in facilitating services and developing strategic partnerships relation with Communitech. 



  • 21 Mar 2018 6:00 PM | Mayank Bhatt
    ICCC-CPA workshop on Pension Plans  
     
    In Evolving Tax Framework
     

     

     Participants at the ICCC-CPA workshop on pension and taxation

    The Indo-Canada Chamber of Commerce (ICCC) in association with the Chartered Professionals Accountants (CPA) of Ontario organised a workshop on ‘Individual Pension Plans: A Response to an Evolving Tax Framework for Business Owners’ on March 21, 2018 at the ICCC’s office in Toronto.

    Professional financial advisors and business owners eager to understand the tax implications of the new federal tax proposals and planning of pension in the wake of these proposed changes attended the program. Robert Rubino and Suzanne Schultz, both CPAs from the RBC Royal Bank, made the presentations.

    Carmen Jacques, Manager, Student Recruitment, CPA Ontario, introduced the speakers and Kanwar Dhanjal, President, ICCC, welcomed the participants to the workshop. Ajay Tandon, VP, Program and Events, was the master of ceremonies for the evening. ICCC directors Naresh Chawda, Pramod Goyal, Abu Becker, Pradyuman Jhala were present at the workshop along with former ICCC Presidents Sanjay Makkar and Dharma Jain.

    Rubino is with RBC Dominion Securities as an Investment Advisor. His planning and advice is structured to complement Public Accountants in their pursuit to plan efficiently for Corporate Clients. Suzanne Schultz is the Vice President and Estate Planning Specialist at the RBC Wealth Management Financial Services Ltd.

    In her presentation on wealth management strategies in the light of the federal budget, Suzanne Schultz discussed the proposed changes in the tax measures for small businesses. Her presentation touched upon how the Federal Budget proposals may affect passive saving in a corporation, the possible solutions to help business owners save for retirement.


     
       
     ICCC President Kanwar Dhanjal  Presenters with the ICCC team
       
       
     Dharam Jain, Ajay Tandon, Pramod Goyal, Sanjay Makkar  Sanjay Makkar, Kanwar Dhanjal, Carmen Jacques, Ajay Tandon

    She listed the progression of the history of the new proposals which began in the 2015 election platform to target unfair tax advantages afforded business owners and following which the federal government sought consultations with the public in July 2017, which was followed by the December 2017 legislation on income sprinkling. Feb 2018 Passive investment proposal announced (much less onerous than July paper)

    She claimed that income in a corporation subject to the small business deduction is taxed at preferential tax rates. If the net income is then used to invest passively, the business owner would have much more to invest than an individual would have.

    Starting in 2019, if a corporation earns more than $50,000 in passive income in a year, the small business deduction will begin to be clawed back.  Reduction of $5 for every $1 of passive income above $50,000.  Full claw back once income reaches $150,000.Passive investment income for this purpose will include rents, royalties, interest, portfolio dividends (foreign and Canadian), taxable capital gains.

    Income sprinkling rules – the big picture. The December proposals will limit income splitting using private corporation shares in certain cases. Kiddie tax (high tax rates) has applied to dividends paid to minor children for many years now. New Tax on Split income (like kiddie tax) will apply to a related shareholder over age 17 with some exceptions.

    In his presentation on Individual Pension Plans, Rubino delineated the different options that both individuals and corporates have of planning pension and managing all aspects of wealth.  He said that planning of pensions should be part of managing all aspects of wealth for both an individual and corporate entities. Individual pension plans could be company sponsored – multiple companies may sponsor a single IPP or a registered plan which complies with pension and fiscal laws and regulations.

    Rubino listed the eligibility of the applicants, which included incorporated business owners 37 + years of age, incorporated Professionals who are receiving T4 income, senior executives who are looking to plan for the future. He explained that the reasons to establish the plan could be subject to the new passive income rules, diversify the retirement strategy, significantly increase retirement savings, attain a planned capital accumulation for retirement, corporate tax deduction – retain small business tax rate. Rubino also listed the many advantages of a pension plan, which include the plan being creditor proof, assisting in succession planning, assist in sale of business, retain lifetime capital gains exemption, diversifying the retirement strategy.

     
     Participants at the workshop


  • 18 Mar 2018 4:16 PM | Mayank Bhatt
    ICCC Newsletter  
     
    March 2018  
                                                                  
    Letter from the President
     
     Kanwar Dhanjal
     
     It's time to nominate a deserving candidate to the  

    ICCC's Annual Awards 

    March is when our Chamber receives nominations for the Indo-Canada Chamber of Commerce’s Annual Awards. It is a glorious tradition that launched more than 25 years ago when the ICCC began honouring achievers with its annual awards. Over the years, the awards have become coveted and prestigious. We continue to honour exceptional Indo-Canadians in eleven categories and an independent advisory board decides who wins in each category. The Chamber’s board and its staff do not have any role in the selection.

    Over the years, the awards have grown to encompass many spheres including entrepreneurs, professionals, technology, corporate executive, young achiever, humanitarian, lifetime and of course the member award. What is equally pertinent is that the ICCC has been among the first organisations to acknowledge crucial role that women play in all spheres and have been awarding women entrepreneurs and professionals for several years. The selection process has remained stringent and on occasions, a category has gone unrepresented when the advisory board has not found any suitable candidate in a particular category.

    One of the most amazing aspects of the ICCC Annual Awards is that the awardees recognised by the ICCC subsequently go on to achieve greater glories. In that sense, the ICCC has been a talent spotter, especially in the spheres of young achievers and technology awards categories, and no less important is the role of the awards in bringing to the attention to the mainstream of the Canadian society.

     Click here to read the: Letter from President

    Photographs of ICCC team's India visit as members of
    Prime Minister Justin Trudeau's delegation

       
     ICCC President Kanwar Dhanjal with PM Justin Trudeau  ICCC Corporate Secretary Naresh Chawda with India's  
      Minister of State for External Affairs Vijay Singh
       
       
     ICCC team with Navdeep Bains ICCC team at the Business Forum 
       
       
     ICCC team with Mohammed Azaruddin ICCC team at a MoU signing program
       
         
     ICCC President with Shashi Tharoor and   ICCC President with Bardesh Chaggar  ICCC President with Bishen Bedi and 
    Mohammed Azaruddin     Virendra Sehwag


    Insight

    India-Canada Joint Statement: 
     
    Partnership for Security and Growth

    Source:  https://pm.gc.ca/eng/news/2018/02/23/india-canada-joint-statement-partnership-security-and-growthI
     

    Prime Minister of Canada, The Right Honourable Justin Trudeau, paid a State Visit to India from 18 to 24 February 2018 at the invitation of the Prime Minister of India Shri Narendra Modi.

    The prime ministers met in New Delhi on February 23 and reaffirmed the breadth and scope of Canada-India relations, based on the fundamental principle of respect for sovereignty, unity and territorial integrity of the two countries. They reaffirmed their commitment to the ongoing diversification and growth of the strategic partnership, based on shared values of democracy, diversity, pluralism, and rule of law. The leaders also affirmed the importance of protecting and advancing human rights at home and abroad, promoting gender equality and the importance of civil society groups as a mainstay of democratic societies.They agreed to continue deepening their close ties and to leverage the complementarity between their two countries in key areas.

    Towards this objective, the leaders agreed on the following:

    • Investing in Mutual Growth
    • Working Together on Climate Change, Oceans, Space and Clean Energy
    • Advancing Gender Equality and Empowerment of Women and Girls
    • Building a More Peaceful and Secure World
    • Enhancing People-to-People Contacts


    Click here to read the speech: Insight
     
         
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  • 09 Mar 2018 6:00 PM | Mayank Bhatt
    Finding and owning your voice
     
    ICCC's best International Women's Day celebration in six years 
     
     
     Panel discussion: Tracy Schmitt, Patricia Lovett-Reid, Jennifer Hubbard, and moderator Angie Seth
     

    In one of the best programs organized to commemorate the International Women’s day, the Indo-Canada Chamber of Commerce’s (ICCC) Women Entrepreneurs and Professionals (WEP) Committee conducted a panel discussion on the subject ‘Finding and owing your voice’ on March 9 at the Courtyard Marriott in Brampton. Members of the ICCC, its stakeholders and supporters gave a stupendous reception to the program by participating in large numbers. The panel discussion took the topic of the day further, with all the panelists narrating their own experiences in trying to find their own voice as a woman achiever.

    Ajay Tandon, VP Events & Programs explained that in recognition of the new impetus women’s rights have gained globally, the ICCC organized this panel discussion focused on the new and emerging trends in women empowerment especially in the sphere of entrepreneurialism and professionalism. The panelists are sterling achievers who have made path-breaking contributions in the personal and professional spheres.

    The dynamic Angie Seth moderated the discussion. The panelists included Tracy Schmitt, better known as Unstoppable Tracy. Unstoppable Tracy #1 International Speaker based out of Toronto. She has shared the stage with Jane Fonda, John Travolta, Mel Gibson, Mark Whalberg and more! She was born a 4-way amputee. Her mind-blowing story always gets standing ovations pushing audiences out of their limitation zones.

    Patricia Lovett-Reid, Chief Financial Commentator, CTV News. As CTV News’ Chief Financial Commentator, she coaches viewers on how to save money, stretch their income, and get the biggest bang for their hard-earned bucks.

    Jennifer Hubbard is the Managing Director, Financial Planning and Advice for CIBC Wealth Management and Commercial Banking. Throughout her career in the financial services industry, she has enjoyed a range of experiences with many of her roles centered around serving and advising clients.

    The panel discussion evoked tremendous interaction between the audience and the panelists. Each of the panelists were asked specific questions pertaining to their expertise, and all of them were also asked a general question about equality in pay at work; and all of them were also asked to give their own interpretation of finding and owning one’s voice.

    Mr. Kanwar Dhanjal, President ICCC formally welcomed all the guests and addressed the gathering. He said that he is very proud to have the women leaders scaling new heights in all sphere of life. Eminent community personalities along with successful women entrepreneurs and professionals of ICCC participated in the program. 


       
     
     ICCC Board of Directors with Minister Chagger

    Hon Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism in the federal government was the chief guest at the program. She is a minister in Canada’s first government that has an equal number of men and women ministers. Minister Chagger emphasized the role of women in the wholesome development of the society and encouraged women to break self-imposed shackles and seize the moment to express their identity. She proudly said that she was the first women house leader in the House of Commons and credited Prime Minister Right Hon. Justin Trudeau for engaging more women leaders in the government.

    Darlene Carreau, the Director General of Business Services at the Canadian Intellectual Property Office (CIPO), delivered the keynote address of the evening. Since December 2015, Darlene Carreau has been serving as the Director General of Business Services at the Canadian Intellectual Property Office (CIPO). Ms. Carreau enlightened the participants in the program on how to trade mark one’s professional property such as logos.


       
     Keynote speaker: Darlene Carreau  Minister Chagger with CIBC's Venki Raman and guests

     
       
    ICCC's WEP Committee members with ICCC President    Members of the audience at the program 
       
     Learning salsa steps   Minister Chagger with Shibani Sahney, Chair, WEP Committee
     
    The doors opened with a Cha Cha Cha performance followed by Salsa lessons enjoyed and participated by the guests. The evening concluded by an amazing salsa performance, and a raffle draw for ladies with gifts ranging from Gift cards to Gold Coins and a Diamond. Each woman participant walked away with a Gift bag courtesy of our generous sponsors.

    Shibani Sahney, Chair, WEP Committee, exclaimed, “This is unarguably the best WEP event we’ve organized since we formed the Committee six years ago. I congratulate the managing committee members Anu Kalra, Shilpaben Patel, Gursharan Kandra, Reema Sarin, Shalini Bhardwaj, Jameet Gill, Vijeta Tokdas, Sudha Shankar, Ruchi Sharma and Sunita Vyas for their strong support and involvement in making this program such a success.


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