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India is an emerging market with business friendly stable government which is working to attract investment for development. India is a lucrative market for the new investors to manifold their returns. Bhim D Asdhir, Founder, Excel Funds Management Inc. said on January 21, 2015.
Mr. Bhim D Asdhir was addressing members and invited guests at the Interactive session of Indo-Canada Chamber of Commerce in Mississauga organized in association with CIBC Wood Gundy and Excel Funds Inc. He further said that the new majority government in India focuses on making the procedures of the business simple by limiting the government bodies as facilitators to attract investments. Ongoing policy reforms, globalisation of the resources, demography of India and rapid urbanisation provides immense opportunities for investment. The Indian government’s decision to develop 100 smart cities, diamond quadrilateral project of high speed train network and development of industrial regions will help the economy to grow in the double digit in the coming decade. India is the fastest emerging global economy and is poised to reach at US$ 10 trillion by 2020, he added.
Mr. Dharma P Jain, President, ICCC said that ‘Make in India’ is the major policy reform in attracting new investment and boosting manufacturing sector. Canada has its expertise in a number of sectors such as mining, information technology, and automobiles, aerospace etc. in which the Indo Canadians have the capacity, connections and capability to invest. Mr. Jain said that in the recent IMF report India is expected to grow at 6.3% in 2015 and 6.5% in 2016 by when it is likely to cross China’s projected growth rate, while terming the new government’s reforms as “promising” but insisted that their implementation is key. In 2014, India’s growth rate was 5.8% against China’s 7.4%, said the World Economic Report update released by the International Monetary Fund (IMF). India’s growth rate in 2013 was 5% as against China’s 7.8%.
Mr. Andre Kent, Vice-President & Investment Advisor, CIBC Wood Gundy, gave a brief introduction of the CIBC Wood Gundy that it is a division of CIBC World Markets Inc. and a trusted Canadian investment dealer since 1905. The bank is providing full-service brokerage with more than 1,000 Investment Advisors nationwide and have assets of $139.5 billion. It operates in Canada with 80 branches.
Tony Chawla, Vice President, ICCC gave a vote of thanks and said that the chamber is promoting such types of events to benefit its members so they can get quality information for doing business and investment abroad.
Mr. Harmandeep Arora introduced the speakers and the event was well received by members and other participants.
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