Indo Canada Chamber of Commerce (ICCC) organised an informative session on investing in India – one of the strongest economies in the Emerging Markets. Mr. Richard Minuk, CFA, Senior Manager Business Development, Excel Funds was the main speaker at the session called ‘The New India – Strategies for Income and Growth’ held at ICCC’s headquarters on 16 March 2016.

Mr. Minuk said that Excel Funds was established in 1998 as the only Canadian mutual fund company focused solely on emerging markets. It is the largest and longest-running India focused mutual fund in Canada. He said that the Indian economy is growing between 7-8% from the last couple of years, and expected to grow at 7.8% in 2016. India has the largest young population and by 2030 the middle class growth will be close to 475 million from the 100 million at present. The Indian government debt to GDP is also at 51.7% which is robust and the low oil prices are a great boon for the Indian economy.

India is now has the second largest internet user base with over 350 million users in 2015, this number is expected to rise to more than 650 million by 2020 which will help in growth of online shopping from $8 billion (2015) to $ 102 billion (2020). He further said that the strong Indian forex reserves ($352 billion) provide a sense of security and faith in the Indian market. The growing Indian economy is providing huge opportunities of investment which will give a good number of annual return to the investors.

Mr. Makkar in his welcome address said that he and other small entrepreneurs had witnessed the Indian growth story in January during ICCC’s India Mission 2016. It is a ripe time for investing in India. The government is business-friendly, and they are moving forward with the desired reforms in the economy to benefit the trade and commercial activities. Mr. Makkar also introduced the two newly appointed directors of the ICCC Mr. Yatendra Shah, and Ms. Devika Penekelapati. Mr. Pappur Shankar, Director Mining & Energy was also present. 

Mr. Arun Srivastava introduced the speaker to the audience. Mr. Eric Valderrama Sr. Vice President National Sales, Excel funds was also present at the event.