ICCC - Business reception for Indian delegation to PDAC - 04-03-13

04 Mar 2013 2:48 PM | Anonymous

ICCC’s reception for Indian delegation to PDAC


ICCC board and members with RH Khawja and Preeti Saran


Indo-Canada Chamber of Commerce (ICCC) organized a business reception for the Indian delegation attending the Prospects & Developers Association Convention (PDAC) in Toronto. RH Khawja, the Deputy Minister and Principal Secretary, Ministry of Mines, Government of India, led the delegation comprising senior representatives from government and private sector mining entities.

Norton Rose LLP, a Canadian law firm with global presence and world-class expertise in the mining sector in Canada and India, was the event sponsor and the City of Toronto was the venue sponsor for the evening.

Speaking on the occasion RH Khawja reiterated the Government of India’s commitment to liberalize the mining sector and said that the proposed mining legislation that would usher in liberalization is at present before the Parliamentary standing committee.

The deputy minister emphasized that even if the passing of the bill took time, opportunities exist in the mining sector in India.

Canadian companies are investing to the tune of $150 million annually, the minister said, and added that the sector also has some challenges. “Displacement of the people is an important matter and it is the responsibility of the government,” he explained.

This new realisation has led to policy formulations that encourage sustainable mining and this is where Canada and India can collaborate significantly. Technology decisions in India are now being based on sustainability rather than extraction.

 

Naval Bajaj



Naval Bajaj enumerated the synergies between Canada and India in the mining sector. He said Canada has the technological knowhow and investment opportunities that are of interest to Indian companies both in the government and the private sector. Similarly, India offers tremendous opportunities in exploration and other spheres.

He said ICCC had through its Canada-India Mining Committee (CIMC) undertaken several proactive measures to facilitate exchange of information in the mining sector between the two countries.

ICCC President highlighted the need for responsible mining practices, a sphere in which Canada has emerged as a global leader. He emphasized that India could benefit from collaboration with Canada in this sphere as Canada is committed to working with its trading partners to pursue policies that support a responsible and sustainable investment environment in the best interests of both workers and businesses.

Consul General Preeti Saran lauded ICCC’s efforts in promoting bilateral economic ties and said the Chamber has been proactive in promoting Canada-India collaboration sectors of mutual interest such as energy, education, infrastructure, mining and agro industries.

Ned Steinman of Norton Rose highlighted the expertise and abilities of the law firm and its deep interests in the Indian mining sector.

Susan Viegas, Senior Advisor Toronto Economic Development, highlighted Toronto’s investor-friendly policies and how it has become a hub of the new thrust in Canada’s economic renaissance. 


RH Khawja


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