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From L to R (sitting): Jay Banerjei, Minister Kevin Sorenson, Dharma P Jain, Sampat Poddar, Yogesh Sharma, Anu Jain & Shreyaa Chawla
Standing: Harmandeep Singh, Sanjay Brahmbhatt, Pramod Goyal, Ashok Baghwala, Tony Chawla, Murarilal Thapliyal, Kanwar Dhanjal & Anil Thapa |
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Canadian government’s 2015 budget will focus on four major areas of supporting family, business development, trade & culture and balancing the budget announced Hon. Kevin Sorenson, Minister of State for Finance during a pre-budget consultation round table with the members of Indo-Canada Chamber of Commerce (ICCC) on 23 February, 2015 in Brampton. The other focus areas would be creating more jobs, promoting trade, developing, skill development, manufacturing, infrastructure and energy in promoting its relations with India.
Minister Sorenson added “the government started negotiations with 43 countries for free trade agreement in which most of them have been signed or in near conclusion to get signed shortly.” He also said that the government is cutting its expenditure to lessen the burden on the economy and to utilize the saved money for family health benefits. It will not put any extra burden on the tax payers.
Speaking on the occasion Mr. Dharma P Jain, President, ICCC stated the chamber’s initiative during the India Mission 2015 to promote Canadian businesses in India and promoting the Small and Medium Enterprises (SME) sector. ICCC led over fifty small businesses to help them forge links with the Indian stakeholders. Low growth rate, reducing GDP, increased consumer debt, unemployment, and low oil prices are some of the major challenges our economy has been facing, Jain said.
ICCC president invited Minister Sorenson to attend the ICCC’s Annual Awards and Gala Night on June 6th 2015.
Participants at the round table made a series of recommendations some of which included the following.
- Small and medium businesses are major source of employment generation so more incentives for the sector especially by creating special economic zones.
- Creating special funds for the emerging sports in Canada like Cricket to generate revenue through sports tourism.
- Special incentives for the manufacturing sector to produce and market the Made in Canada products in the international market.
- Export of high end technology and their consultation for generating more jobs and revenues.
- Emphasis on skilled worker program in the education sector to help Canada as there is going to be a great shortage in the future.
- Housing sector is strong and it will continue to grow.
- Loopholes in the tax system needs to be rectified.
Mr. Tony Chawla, Vice President ICCC introduced the Minister.
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