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ICCC Weekly Newsletter – 30 July 2021

31 Jul 2021 1:02 PM | Anonymous

President's Views

Tauseef Sheikh

ICCC's Startup Initiative

ICCC Board's Executive Committee meeting with High Commissioner Ajay Bisaria and Consul General Apoorva Srivastava

His Excellency Ajay Bisaria, the High Commissioner of Canada to India, recently met the Executive Committee members of the Indo-Canada Chamber of Commerce’s (ICCC) Board and discussed the roadmap of collaboration between the Indian diplomatic corps in Canada and the ICCC. One of the most significant suggestions that he made was for the ICCC to venture into supporting the startup space in Canada and India.

The startup ecosystem has emerged as one of the key propellers of growth for both the Canadian and the Indian economies, and as the High Commissioner emphasized during our meeting with him, “Tech startups are the future of Canada – India bilateral ties.”

The ICCC Board immediately decided to swing into action on this proposal and setup a startup committee within the board that Sanjay Kulkarni, Vice President and Director, ICCC, is heading. The ICCC will revive its collaboration with the Schulich School of Business and enter into a new collaboration with Ryerson Venture Zone.

The ICCC has a natural role to play in the startup ecosystem because small businesses dominate the ecosystem. We will focus on startup ventures launched by immigrants from India, and, now that we have a fully functional office in India, we are confident that we will be able to help Indian startups take advantage of the new immigration policies such as the Startup Visa Program.

The ICCC is also planning to create a group comprising successful Indo-Canadian entrepreneurs who can become mentors to startup entrepreneurs, and even consider funding some of the ventures they mentor. I invite you to participate in this initiative. If you are interested, please write to iccc@iccconline.org

Read more: ICCC's Startup Initiative

Advisory Board Appointments

Meet the new members of ICCC's Advisory Board

Amin Visram

Amin Visram, a lawyer, is the Chief Executive Officer of the Vista Group of Companies specializes in property turn around.

Vista has achieved staggering turn arounds and profits of 300% to 500% within short periods of time. The immediacy of results and sustained high levels of performance and profitability have earned Vista numerous accolades from its business partners, lending institutions, corporate and private investors, as well as other sources of funding.

Arjun Jasuja

Arjun (Andy) Jasuja is the founder and chairman of the Sigma Group of Companies, with a portfolio spanning diverse industries across technology, marketing, real estate, hospitality, and finance.

As a serial entrepreneur, Andy has built and acquired numerous companies whereby leveraging his solid management and operational excellence to achieve long-term value and growth. As Chairman, Andy is instrumental in guiding the group’s investment strategy and identifying unique business opportunities across various industries. Andy has raised substantial capital from leading venture capital and private equity firms including Kleiner Perkins, Morgan Stanley, Cisco, and Birch Hill Equity Partners.

Ginni Sethi

Former Vice President of Indo-Canada Chamber of Commerce, Ginni Sethi is the Chairperson at Black Diamond Entertainments. Owner of many ventures, she is an innovative, tenacious and entrepreneurial businesswoman.

Visionary in her approach, she took her furniture business to an international level turning it into a global multi-million-dollar company. She jointly owns many other businesses, in real estate; software development; construction; hospitality, and events and entertainment and has achieved success in all realms. In 2017 she launched her business of Party boats cruising the Toronto Harbour. Her company Pioneer Cruises owns boats which are chartered for private and public events.

Sandeep Goel

Sandeep Goel is the President and Chief Executive Officer of ICICI Bank Canada. Mr. Goel has a wealth of experience in the financial services industry, with a career spanning over 20 years across Asia, Europe and North America.

Mr. Goel started his career as a debt ratings analyst at Moody’s Investor Services in New Delhi, India before moving to ICICI Bank Limited, where he led the media/telecom risk units in Mumbai, India. To support the Bank in expanding its footprint outside of India, Mr. Goel joined ICICI Bank Limited’s U.K. subsidiary to assist in building its risk management infrastructure. He then joined ICICI Bank Canada as its Chief Risk Officer for all North American operations. Mr. Goel holds a Bachelor of Engineering from Delhi University and an MBA from the Indian Institute of Management in Bangalore, India.

Trade promotion

The Board of Directors of the Indo-Canada Chamber of Commerce (ICCC) met with the Commercial team of the Consulate General of India - Toronto led by Subhan Krishen, the Commercial Consul. ICCC President Tauseef Sheikh led the ICCC team which comprised Sanjay Kulkarni, Ripudaman Singh Dhillon, Don Patel, Virender Rathi, Bhavik Parikh, and Sheelu Sharma.

(From L to R) Bhavik Parikh, Sanjay Kulkarni, Sheelu Sharma, Virender Rathi, Subhan Krishen, Tauseef Sheikh, Ripudaman S. Dhillon

(L to R): Don Patel, Subhan Krishen and Tauseef Sheikh

(From L to R): Virender Rathi, Subhan Krishen, Ripudaman S. Dhillon

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In the News: Canada

International Students as Labour Supply

Changing sociodemographic characteristics

International students are an important future source of skilled labour in Canada, as they may be eligible for permanent residency through immigration programs after graduation. Attracting students from a wide diversity of countries, as well as to a variety of regions and programs, fosters sustainable growth in Canada's international education sector and distributes benefits across the country.

A new study "International students as a source of labour supply: The growing number of international students and their changing sociodemographic characteristics" examines the changing sociodemographic characteristics of international students.

Over the 2000-to-2019 period, the annual number of first-time study permit holders increased from 70,000 to 250,000. There was a trend of increased concentration in programs of study, source countries and provinces of study of international students.

Download report: International Students

In the News: India

India's Draft Emigration Bill 2021

India’s Draft Emigration Bill 2021, yet to be passed by the Indian Parliament, will replace the Emigration Act of 1983 as the overarching and only legal instrument responsible for dealing with emigration and migrant welfare. Expectedly, the draft bill has divided experts.

According to India Migration Now, a Mumbai based migration data, research, and advocacy organization, the Draft Bill 2021 “is a progressive and welcome development with many crucial positive inclusions."

The full or partial incorporation of most objectives of the Global Compact for Safe, Orderly, and Regular Migration (“GCM”) (of which India is a signatory) is an extremely welcome development.

Additionally, the removal of the emigration clearance system, which constituted a major regulatory hurdle for potential emigrants, is a move in the right direction.

The recognition of the role of intermediaries – in particular, subagents, who operate at lower levels of the supply chain – and their regulation is also a positive development.

Most promisingly, measures addressing all aspects of the migration cycle including the reintegration of return migrants are especially notable – in particular the involvement of state governments in implementing reintegration programs.

However, some fundamental concerns remain. A clear and well-defined framework with explicit policy goals and outcomes would be of immense benefit, which is futureproof in nature, as a guiding document for any subsequent Rules, Executive Orders and other policy initiatives going forward.

Download: Draft Emigration Bill 2021

Insight

Combating Climate Change

World's Green Energy Ambitions

Michael Neri

Michael Neri is a journalist and researcher based in Fort Lauderdale, Florida, USA. He analyses the key strategies being adopted by three of the biggest players in the solar energy sector - the US, China and India.

Bhadla Solar Park, Rajasthan, the largest solar park in the world

It may not be following a linear trajectory, nor does it seem like nearly enough, given the urgency, but there can be little doubt that the world is taking significant action to combat climate change. President Biden has a plan to shift 100% of America’s electricity generation capacity to renewables by 2035 – the world’s most ambitious green energy timeline by far — and is seeking to bankroll that effort with a $1.2 trillion “Bipartisan Infrastructure Framework” bill. The opposition GOP is still obstructing this proposal, but there is some hope that a different iteration of the bill, only marginally less ambitious, will soon pass and put America firmly on the road to a green energy future. Likewise, both China and India, the two other big contributors to CO2 emissions, are also racing ahead to attain less ambitious but equally impressive green energy targets.

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ICCC Weekly Newsletter – 30 July 2021

31 Jul 2021 1:02 PM | Anonymous

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