News 

President's Message

ICCC team’s successful India visit

18 to 22 November 2019

ICCC President & Directors accompany Ontario's Minister Vic Fedeli to
New Delhi and Mumbai

Ontario and India have traditionally strong trading links. the two-way trade between the province of Ontario and India is worth C$3.2 billion. Nine per cent of Canadian exports to India are from Ontario.

The province has Trade and Investment Offices in New Delhi and Mumbai to attract and facilitate investment deals, help small- and medium-sized enterprises expand their export capacity and promote the province’s open for business mandate.

In view of the growing economic reliance, frequent visits by Ontario Ministers to India are becoming a norm rather than an exception that they were a few years ago. Last month, Hon. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade went to India between 18 and 22 November 2019.

Hon. Nina Tangri, Parliamentary Assistant to Ontario’s Minister of Economic Development, Job Creation and Trade, and Hon. Deepak Anand, Member of Provincial Parliament from Malton-Mississauga accompanied Minister Fedeli. Both Hon. Tangri and Hon. Anand are Indo-Canadians who have a long history of association with the community and with our Chamber. 

The Indo-Canada Chamber of Commerce was the only stakeholder organisation working in the Canada – India bilateral trade promotion space to be invited to join the Ministerial delegation.

It was an honour and a privilege to accompany the Minister to Delhi and Mumbai. My colleagues on the board Vijay Thomas, VP & Director, International Trade and IT; Arvind Bhardwaj, VP & Director, Small & Medium Enterprises; and Virender Rathi, who subsequently joined the board, accompanied me on the trip.

We were a witness to a historic business trip by Minister Fedeli, and I have no hesitation in stating that the visit will lead to more intense cooperation between Ontario and India.

To read more, click here: President's Message

Update on Special General Meet

An overwhelming 84 percent of members of Indo-Canada Chamber of Commerce who voted at the Special General Body meeting on 03 December approved of the appointment of the following directors.

• Pramod Goyal
• Tauseef Sheikh
• Sanjay Kulkarni
• Surinder Sharma
• Vijay Thomas
• Arvind Bhardwaj
• Don Patel
• Virender Rathi

To read the profiles of the board members, click here: Directors

Note:

In view of her personal and business preoccupations at present, Mini Khurana has expressed her inability to take on the responsibility of a director at Indo-Canada Chamber of Commerce and has since withdrawn her name from the newly-elected board.

Program and Events

Canadian Trade Commissioner Service

Wealth Management & Tax Strategies

Canadian Trade Commissioner Service

Sue Rauth, Deputy Director and Amit Ranjan, Trade Commissioner, both from the Regional Office of the Trade Commissioner Service addressed members and guests of Indo-Canada Chamber of Commerce (ICCC) on Thursday 21 November 2019 on the services offered by the Canadian Trade Commissioner Service to Canadian businesses.

Their presentation, entitled Programs and Services of the Canadian Trade Commissioner Service (TCS), provided a perspective for Canadian entrepreneurs to explore the global markets with the assistance of the Canadian federal government.

The four core services that TCS provide are:

• Prepare for International Markets
• Assessing Market Potential
• Finding Qualified Contacts
• Resolving Problems

These services are provided at no cost to qualified clients. Clients selection criteria is simple and involves Canadian companies who have developed an export plan; have selected and researched their target market. These entities should be incorporated and have an existing track record of sales in Canada.

They also spoke about the CanExport – SME scheme and its assistance to small businesses to explore global markets. The scheme funds the following activities:

• Business travel,
• Market research,
• Participation at trade events and fairs,
• Adaptation and translation of marketing tools,
• Intellectual property protection, certification, and adaptation of contracts,
• Expert advice on business, legal or tax matters

The presentation was well received by the members and guests of the ICCC.

Wealth Management & Tax Strategies

Rakesh Vijay, Senior Wealth Manager and Trevor R Parry, Senior Tax and Estate Planning Advisor at Raymond James made a presentation on Wealth Management and Tax Strategies on 6 December at the Indo-Canada Chamber of Commerce. The audience comprised a select group of members and guests including high net worth investors and advisers.

Rakesh Vijay is a Senior Wealth Manager and Chairman Council Member at Raymond James Ltd. He leads a team of nine assisting both high net worth or a novice investor make the right investment decisions. His specialities include Wealth Management Services, including estate planning, life insurance, trust services, tax planning, and more.

Trevor Perry is an expert on taxation. He speaks regularly across the country for organizations such as STEP and Advocis. Trevor is a member of the Society of Trust and Estate Practitioners, the Canadian Tax Foundation, the Albany Club, and the Royal Canadian Military Institute. He is an Associate Member of CALU and is a member in good standing of the Law Society of Upper Canada, having been called to the Ontario Bar in 1996.

Rakesh Vijay spoke on the Benefits of Fee Based Accounts versus Buying Mutua Funds and Trevor Parry spoke about Tax Challenges and Superior Solutions for Your Business. In his presentation titled, Navigating the Rapids: Tax Challenges in the Lifecycle of a Business, Parry spoke about the current political climate and its influence on tax policies and therefore its impact on investment decisions.

Speaking on the occasion, Pramod Goyal, President, ICCC, said, “Today’s session is part of our leadership’s effort to bring quality programming for our members that adds value to their strong and continuing association with their Chamber. Let me emphasize that the new leadership of the Chamber is committed to upholding the glorious principles on which it was established 42 years ago.”

India Mission 2020

6 January - 15 January 2020

New Delhi, Lucknow, Hyderabad, Mumbai

Indo-Canada Chamber of Commerce (ICCC) will lead its annual India Mission between 6 January and 15 January 2020.

The trade mission will primarily focus on F&B, agrifood and services sectors, and will visit New Delhi, Lucknow, Hyderabad and Mumbai. In New Delhi, the delegates will participate in Indus Food on 8 and 9 January.

The business delegates will be engaged in different B2B meetings, seminars, conferences, expo and focused group meetings based on their sectors. ICCC is closely working with its India office and MoU partners in India to finalize the meetings.

The mission delegates will be successful in getting new business connections which will pave the way for their cooperation with Indian partners and possibly open up the opportunities for collaboration.

Our past missions have witnessed participation from the decision makers from Canadian and Indian governments at the federal, provincial and city levels. During the last decade, we have successfully forged linkages with our partners – chambers of commerce, industry associations and trade promotion agencies – from across India.

These partners in success have ensured that every India Mission has resulted in tie-ups between Canadian and Indian small businesses, leading to collaborations. In addition, the Canadian diplomatic corps, and especially the Trade Commissioners’ Services, have taken a keen interest in ensuring that our missions are a success. All these factors are a clear sign that our India Mission 2018 is going to be a tremendous success.

We invite you to participate in the Mission. Contact Pawan Chankotra for more information: pc@iccconline.org / (416) 224-0090.

Indo-Canada Chamber of Commerce presents

Interactive session on Wealth Management and Tax Strategies / Planning

Rakesh Vijay	Trevor R. Parry
will speak on	will speak on
Benefits of Fee base accounts v/s buying Mutual Funds	Tax Challenges and Superior Solutions for your Business

Member of

The ICCC team comprising Pramod Goyal, President, Indo-Canada Chamber of Commerce; Vijay Thomas, Director, International Trade and Information Technology; and Arvind Bhardwaj, Director, Program and Events, accompanied Hon. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade on his India trip between 18 and 22 November 2019.

The Ontario Minister went to New Delhi and Mumbai during the trip. Hon. Nina Tangri, Parliamentary Assistant to Ontario’s Minister of Economic Development, Job Creation and Trade, and Hon. Deepak Anand, Member of Provincial Parliament from Malton-Mississauga accompanied Minister Fedeli.

The trip comprised two independent delegations – the first had representatives from stakeholder organisations and the other had Canadian businesses from the information technology and infrastructure sector.

“Minister Fedeli’s visit was tremendously successful and will lead to more intense cooperation between Ontario and India,” Pramod Goyal said, upon his return from India.

The ICCC President utilised the India visit to do the necessary spadework in organising the upcoming ICCC India Mission 2020 (5 January to 15 January 2020).

In New Delhi, Mr. Goyal met India’s Minister of State for Micro, Small and Medium Enterprises Hon. PC Sarangi and Hon. Rita Bahugana, MP, in New Delhi. He also met Mr. D. K. Agarwal, President, and Dr. Ranjit Mehta, Director, PHD Chamber of Commerce; Mr. Rajesh Aggarwal, Executive Director, Indian Trade Promotion Organisation; Mr. Mohit Singla, Chairperson, Trade Promotion Council of India. In Mumbai, he met Mr. Vijay Kalantri, Vice President World Trade Centre-Mumbai; Chandrakant Salunkhe, President, SME Chamber of India; Mr. Jagat Shah, of Global Network.

The Indo-Canada Chamber of Commerce is an MoU partner with most of these organisations.

In addition, in New Delhi, during the Indo-Canada Business Chamber’s Annual Convention, Mr. Goyal met with officers from Trade Commissioners Service Mr. Andrew Smith. in Mumbai, during the Canada India Business Council's 7th Annual Canada - India Business Forum, Mr. Goyal interacted with Hamilton Mayor His Worship Mr. Fred Eisenberger, Mayor of Hamilton; His Worship Mr. Stephen Molnar, Mayor of Town of Tillsonburg; Canada’s Consul General in Mumbai Ms. Annie Dube and Director of Hamilton Economic Development Council Mr. Glen Norton.

Pertinently, the two-way trade between the province of Ontario and India is worth C$3.2 billion. Nine per cent of Canadian exports to India are from Ontario. The province has Trade and Investment Offices in New Delhi and Mumbai to attract and facilitate investment deals, help small- and medium-sized enterprises expand their export capacity and promote the province’s open for business mandate. More than 50 Indian companies across all sectors have operations and investments in Ontario, and over 52,000 Indian post-secondary students studied in Ontario’s world-class universities and colleges during the 2018 to 2019 school year.

From l to r: Surinder Sharma, Ajay Tandon, Sue Rauth, Amit Ranjan, Sanjay Kulkarni and Tauseef Sheikh

Sue Rauth, Deputy Director and Amit Ranjan, Trade Commissioner, both from the Regional Office of the Trade Commissioner Service addressed members and guests of Indo-Canada Chamber of Commerce (ICCC) on Thursday 21 November 2019 on the services offered by the Canadian Trade Commissioner Service to Canadian businesses.

Their presentation, entitled Programs and Services of the Canadian Trade Commissioner Service (TCS), provided a perspective for Canadian entrepreneurs to explore the global markets with the assistance of the Canadian federal government.

The four core services that TCS provide are:

• Prepare for International Markets
• Assessing Market Potential
• Finding Qualified Contacts
• Resolving Problems

These services are provided at no cost to qualified clients. Clients selection criteria is simple and involves Canadian companies who have developed an export plan; have selected and researched their target market. These entities should be incorporated and have an existing track record of sales in Canada.

They also spoke about the CanExport – SME scheme and its assistance to small businesses to explore global markets. The scheme funds the following activities:

• Business travel,
• Market research,
• Participation at trade events and fairs,
• Adaptation and translation of marketing tools,
• Intellectual property protection, certification, and adaptation of contracts,
• Expert advice on business, legal or tax matters

The presentation was well received by the members and guests of the ICCC.

ICCC Newsletter - November 2019  President's Message    Pramod Goyal Minister Fedeli’s India visit While a lot has been achieved during the last five years, and especially during the Canadian Prime Minister’s India visit last year in which ICCC led the largest business delegation of over 65 entrepreneurs, trade between Canada and India stays around $8billion which is way below of the potential of both the economies. With $3.1 billion in two-way trade between Ontario and India, Ontario’s contribution to the Canada – India bilateral trade accounts for over 37%, and 9% of Canadian exports to India are from Ontario. Later in November, I will be participating in a trade delegation to India led by Hon. Victor Fedeli, Ontario’s Minister of Economic Development Job Creation and Trade. The business delegation will travel to New Delhi and Mumbai to leverage Ontario's strengths in Information and Communication Technologies (ICT) and Infrastructure. It is heartening to note that within a span of six months, two Ontario ministers have led a trade delegation to India. In May 2019, Hon. Todd Smith, who was at that time the Minister of Economic Development, Job Creation and Trade, had gone to India and focused on agri-food, automotive, infrastructure and ICT sectors. Now, the November 2019 mission led by Minister Fedeli will focus on infrastructure and ICT. Indo-Canada Chamber of Commerce has facilitated the India trips of former Ontario Premiers Hon. Dalton McGuinty in December 2009 and Hon. Kathleen Wynne in 2016. Our Chamber will work with the Ontario government to facilitate Premier Doug Ford’s trip to India soon. There is more information about our mission in the newsletter. I hope you will be enthused to participate in the mission.  Read More: President Message News ICCC - IIT-Alumni Canada to work together       Indo-Canada Chamber of Commerce and IIT Alumni Canada signed a Memorandum of Understanding (MoU) on 2 November at the IIT Alumni Canada’s Annual Gala. The purpose of this Memorandum of Understanding is to establish the principles and the basis for increased cooperation between ICCC and IITAC with a view towards strengthening the strategic partnership for the purpose of maximizing the benefits from our mutual interests. The MoU was signed by Pramod Goyal, President, Indo-Canada Chamber of Commerce, and Ashraf Ali, President of the IIT Alumni Canada. Surinder Sharma, Director, Membership Engagement, ICCC, who is also a senior member of IIT Alumni Canada was instrumental in bringing the two organisations together. Mr. Sharma, along with Tauseef Sheikh, Corporate Secretary, ICCC, and Satish Thakkar, Past President, ICCC, and National Convener, Canada India Foundation, were present on the occasion, along with Saifullah Khan, Commercial Consul, Consulate General of India in Toronto. The salient features of the collaboration include: Encourage members of both the organisations to take active membership and participation in the other organisation. ICCC and IITAC agree to apply member rates for members of each organisation should they wish to participate in any event organised by either organisations. Work cooperatively to identify and explore business and career opportunities between ICCC and IITAC members. Jointly work to identify and create bilateral economic, technical and business opportunities between Canada and India. Promote direct company to company linkages and promotions between ICCC and IITAC business members. Develop ways that companies can reduce risk of entering bilateral business relationships between India and Canadian markets or any territories like US. Be advocates to the Canadian Government on policies that hinder the development of business and technology linkages between Indian and Canadian companies. Be an effective forum for networking, exchanging ideas and information and advancing the interests of the ICCC and IITAC. Provide a business or career match-making service identifying opportunities to the benefit of respective ICCC and IITAC members and qualify potential collaborators. Access and offer market intelligence on business sectors, industries and companies to ICCC and IITAC members. Provide information on Canadian and Indian trade fairs, missions, seminars and other business-related events to ICCC and IITAC members. Work collaboratively with Government to address members’ needs and the trade and profession related barriers they encounter.  Photographs of the signing ceremony XXXXX         XXXXX                                                   Insight Canada and India collaboration in agriculture    By M J Khan Canada and India have enjoyed enduring bilateral relations founded upon shared traditions of democracy and diversity. Canada is home to over 1.2 million Persons of Indian Origin (PIO) who comprise more than 3% of its population. The highly educated, affluent and industrious PIOs, one of the largest immigrant groups in Canada are well integrated with the mainstream and active politically. Their presence has infused the traditions and culture of India into the social fabric of Canada. This has considerably aroused the interest of the Canadians in India’s culture and Cuisine. This has opened immense trade opportunities in agricultural and food sector between the two countries. In terms of agriculture and skilled personnel, India is a formidable presence in the world. The country has the largest arable land in the world and is the world's largest producer of milk, pulses and jute, and ranks as the second largest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit and cotton. It is also one of the leading producers of spices, fish, poultry, livestock and plantation crops. Worth $ 2.1 trillion, India is the world's third largest economy after the US and China. India is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). Canada is also a giant in agriculture production. It is the 5th largest agricultural exporter in the world. Canada produces about 75% of the world's maple syrup and is the world's largest exporter and one of the largest producers of flaxseed, canola, pulses, oats and durum wheat. Canada exports $56 billion a year in agriculture and agri-food products and approximately half of everything that is produced is exported as either primary commodities or processed food and beverage products. Canada is recognized as having one of the strongest food safety systems in the world.    Read More: Insight   India Mission 2020 5 to 14 January 2020 The Indo-Canada Chamber of Commerce (ICCC) is cognizant of the significance of the Indian market to Canada. Growth of the Canadian economy depends on trade and commerce, so it is important for Canada to deepen its commercial relations with India because India will remain one of the fastest growing economies of the world for the foreseeable future, and Canada can contribute positively to India’s growth by providing it the technology and services to make India’s growth sustainable. As the largest representative of Indo-Canadian businesses, the ICCC unequivocally advocates for the Canadian government to enhance relations with India. While a lot has been achieved during the last five years, and especially during the Canadian Prime Minister’s India visit last year in which ICCC led the largest business delegation of over 65 entrepreneurs, trade between Canada and India stays around $8billion which is way below of the potential of both the economies. It is time to expand sectors of cooperation that have dominated trade between the countries and include new areas such as technology transfer in sunrise sectors where Canada can be of a great assistance to India. With the above in view, the ICCC is excited to lead a business delegation to India between January 5-14, 2020.  Read More: India Mission 2020  Events  Welcome reception for Consul General Apoorva Srivastava    ICCC Board Members presenting a print of Lauren Harris painting to Consul General Apoorva Srivastava Indo-Canada Chamber of Commerce (ICCC) organised a welcome reception in the honour of the new Consul General Apoorva Srivastava on 28 October 2019. The reception was attended by senior members of the Chamber, leading sponsors and stakeholders, along with the board of directors, and the advisory board members of the Chamber. Ms. Srivastava took charge as the Consul General of India in Toronto in August 2019, and since then has been active in her community outreach. She is a career diplomat, having joined the Indian Foreign Service in 2001. Prior to her Toronto posting, she worked with the Minister of External Affairs from January 2017 to August 2019. In her 18-year diplomatic career, she has served twice in the Indian Embassy in Paris, from August 2003 to October 2006 and again from August 2012 to July 2015, and in the Indian Embassy in Kathmandu from June 2009 to August 2012. She has also served as Under Secretary (SAARC) and as Director (Administration). The Consulate General of India in Toronto is an important stakeholder of ICCC and collaborates on different business initiatives to achieve common objective of promoting bilateral relations and advocating for the interests of the Indo-Canadians. Pramod Goyal, President, ICCC, while welcoming Ms. Srivastava said, “During the last few years, this collaboration has intensified. We are keen to continue building on that relationship and work on organizing trade shows, B2B meetings. We are also eager to involve the Consulate in our upcoming India Mission 2020 when we will be leading a trade delegation of Canadian small businesses to India.” Photographs of the event  Affinity Program Announcement  ICICI Bank's Exclusive Offer for ICCC Members   All members of the ICCC who open an account with ICICI Bank Canada will enjoy a host of benefits including NRI: NRI Referral Services. Money Transfers to India: No fees. Plus, get an extra 40 paise on top of our posted exchange rates. Credit Cards: Waiver of annual fee for the first year on our Rubyx credit card and earn cash back rewards of 2% on selected category (e.g. gas & grocery, entertainment etc.) Guaranteed Investment Certificates (GICs): Earn an extra 0.10% in addition to our posted interest rate for both Registered and Non-Registered GICs (including Non-redeemable and RSP/Tax-Free GICs). Mortgages: Enjoy our preferential interest rates. Safety Deposit Boxes: No annual fee for the first year.  Read More: Affinity Partners

ICCC - IIT-Alumni Canada to work together       Indo-Canada Chamber of Commerce and IIT Alumni Canada signed a Memorandum of Understanding (MoU) on 2 November at the IIT Alumni Canada’s Annual Gala. The purpose of this Memorandum of Understanding is to establish the principles and the basis for increased cooperation between ICCC and IITAC with a view towards strengthening the strategic partnership for the purpose of maximizing the benefits from our mutual interests. The MoU was signed by Pramod Goyal, President, Indo-Canada Chamber of Commerce, and Ashraf Ali, President of the IIT Alumni Canada. Surinder Sharma, Director, Membership Engagement, ICCC, who is also a senior member of IIT Alumni Canada was instrumental in bringing the two organisations together. Mr. Sharma, along with Tauseef Sheikh, Corporate Secretary, ICCC, and Satish Thakkar, Past President, ICCC, and National Convener, Canada India Foundation, were present on the occasion, along with Saifullah Khan, Commercial Consul, Consulate General of India in Toronto. The salient features of the collaboration include: Encourage members of both the organisations to take active membership and participation in the other organisation. ICCC and IITAC agree to apply member rates for members of each organisation should they wish to participate in any event organised by either organisations. Work cooperatively to identify and explore business and career opportunities between ICCC and IITAC members. Jointly work to identify and create bilateral economic, technical and business opportunities between Canada and India. Promote direct company to company linkages and promotions between ICCC and IITAC business members. Develop ways that companies can reduce risk of entering bilateral business relationships between India and Canadian markets or any territories like US. Be advocates to the Canadian Government on policies that hinder the development of business and technology linkages between Indian and Canadian companies. Be an effective forum for networking, exchanging ideas and information and advancing the interests of the ICCC and IITAC. Provide a business or career match-making service identifying opportunities to the benefit of respective ICCC and IITAC members and qualify potential collaborators. Access and offer market intelligence on business sectors, industries and companies to ICCC and IITAC members. Provide information on Canadian and Indian trade fairs, missions, seminars and other business-related events to ICCC and IITAC members. Work collaboratively with Government to address members’ needs and the trade and profession related barriers they encounter.

Photographs of the signing ceremony

XXXXX         XXXXX

Welcome reception for Consul General Apoorva Srivastava    ICCC Board Members presenting a print of Lauren Harris painting to Consul General Apoorva Srivastava Indo-Canada Chamber of Commerce (ICCC) organised a welcome reception in the honour of the new Consul General Apoorva Srivastava on 28 October 2019. The reception was attended by senior members of the Chamber, leading sponsors and stakeholders, along with the board of directors, and the advisory board members of the Chamber. Ms. Srivastava took charge as the Consul General of India in Toronto in August 2019, and since then has been active in her community outreach. She is a career diplomat, having joined the Indian Foreign Service in 2001. Prior to her Toronto posting, she worked with the Minister of External Affairs from January 2017 to August 2019. In her 18-year diplomatic career, she has served twice in the Indian Embassy in Paris, from August 2003 to October 2006 and again from August 2012 to July 2015, and in the Indian Embassy in Kathmandu from June 2009 to August 2012. She has also served as Under Secretary (SAARC) and as Director (Administration). The Consulate General of India in Toronto is an important stakeholder of ICCC and collaborates on different business initiatives to achieve common objective of promoting bilateral relations and advocating for the interests of the Indo-Canadians. Pramod Goyal, President, ICCC, while welcoming Ms. Srivastava said, “During the last few years, this collaboration has intensified. We are keen to continue building on that relationship and work on organizing trade shows, B2B meetings. We are also eager to involve the Consulate in our upcoming India Mission 2020 when we will be leading a trade delegation of Canadian small businesses to India.”

Photographs of the event

The Indo-Canada Chamber of Commerce (ICCC) congratulates Prime Minister Justin Trudeau for his second term as the Prime Minister of Canada. The 21 October Canadian federal election results have given us a Liberal minority government. The result reflects the Canadian political reality.

Globally, minority governments have inherent challenges that require dexterous political management. The Indo-Canada Chamber of Commerce is cognizant that while making important decisions the new government in Canada will have to consider political stances of parties that support it and ensure its survival.

India is going to remain one of the fastest growing economies of the world for the foreseeable future, and Canada can steer its growth to make it sustainable. As the largest representative of Indo-Canadian businesses, the ICCC unequivocally states that the Trudeau government should make enhancing relations with India a priority.

While a lot has been achieved during the last five years, and especially during the Prime Minister’s India visit last year, a lot remains to be done. An indication of the stagnant status of bilateral ties is that trade between Canada and India stays stubbornly below the $10 billion mark.

It is time to expand sectors of cooperation that have dominated trade between the countries and include new areas such as technology transfer in sunrise sectors where Canada can be of a great assistance to India.

Additionally, several factors have emerged in recent times that are transforming bilateral relations qualitatively. These include:

• The growing number of international students from India enrolled in Canadian universities
• The qualified and skilled immigrants from India through the express entry program

A constructive approach will take the bilateral relations to the level they ought to be and the ICCC is willing to play the role that it traditionally has of being a conduit between the two establishments to put the ties firmly on an upward trajectory.

Insight

• Canada became a nation in 1867 (152 years)
• Indian became an independent nation in 1947 (72 years)
• Canada’s exports to India in 2017-18 was US$ 4.7 billion
• India’s exports to Canada in 2017-18 was US$ 2.5 billion
• Total trade between the two nations was US$ 7.2 billion
• Canada’s total trade with USA was US$ 508 billion (70 times that of India)
• Canada’s total trade with China was US$ 63 billion (9 times that of India)

Ten steps to increase trade between India & Canada:

1.     Startups and innovative companies are the key to the future  
2.     Warehouse in India and Canada 
3.     Formalize buying agency network in Canada and India  
4.     Organize one Federal investment Expo and summit every year
5.     Organize Vibrant Canada Global Expo & Summit 2020 in India
       & Vibrant India Global Expo & Summit in Canada
6.     Global Tender business between Canada and India
7.     Indo Canada Joint Venture Centre
8.     Investment always follows trade      
9.     Trade and investment helpline

 Affinity Program Announcement

Greetings from ICICI Bank Canada!

Established in December 2003, ICICI Bank Canada is a full-service direct bank with an asset base of about C$6.7 billion as at December 31, 2018. We offer a wide range of financial solutions to cater to personal, commercial, corporate, investment, treasury and trade requirements. We are a member of the Canada Deposit Insurance Corporation. Our head office is located at the Don Valley Business Park in Toronto, Ontario. We currently have eight branches in Canada: six in the GTA, Ontario; one in Delta, British Columbia; and one in Calgary, Alberta.

We are a wholly-owned subsidiary of ICICI Bank Limited, which is headquartered in Mumbai, India. ICICI Bank Limited (NYSE: IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at US$168.8 billion as at December 31, 2018.

Our products and services can help the ICCC and its members to achieve their financial goals with high quality customer service, at competitive prices. We look forward to serving your banking needs.

Products and Services

Corporate and Commercial Banking Services	Personal Banking ServiceXXXXXXXXXXXXX
Working Capital & Term Loans Small Business Loans & Franchise Financing High Yield GICs & Business Savings Accounts FX & Treasury Products Commercial Mortgages & Real Estate Financing Customized Trade Finance Solutions (specializing in Indian subcontinent)	Chequing & Savings Accounts, GICs International Money Transfers Residential Mortgages Credit Cards Student GIC Program RESP, RSP & TFSA Safety Deposit Boxes (for account holders)

All members of the ICCC who open an account with ICICI Bank Canada
will enjoy a host of benefits including

• NRI: NRI Referral Services.
• Money Transfers to India: No fees. Plus, get an extra 40 paise on top of our posted exchange rates.
• Credit Cards: Waiver of annual fee for the first year on our Rubyx credit card and earn cash back rewards of 2% on selected category (e.g. gas & grocery, entertainment etc.)
• Guaranteed Investment Certificates (GICs): Earn an extra 0.10% in addition to our posted interest rate for both Registered and Non-Registered GICs (including Non-redeemable and RSP/Tax-Free GICs).
• Mortgages: Enjoy our preferential interest rates.
• Safety Deposit Boxes: No annual fee for the first year.

For further information about our products and services, please feel free to contact:

• Corporate and Commercial Banking Services
  Vipin Gupta
  Phone: 416-797-8942
  Email: vipin.gupta@icicibank.com
  

• Personal Banking Service
  Kishore Kumar
  Phone: 416-873-8964
  Email: kishore.thazhathe@icicibank.com

Download brochure: ICICI Bank Canada

ICICI Bank Canada products and services are subject to terms and conditions which can be found at icicibank.ca/legal or at any ICICI Bank Canada branch. The ICICI Bank name and logo are trademarks of ICICI Bank Limited and used under license. ICICI Bank Canada |150 Ferrand Drive, Suite 1200 Toronto, ON M3C 3E5 Canada|Website: icicibank.ca

The offers contained herein cannot be combined with any other offer and are not transferrable. The offers maybe withdrawn or changed without prior notice at any time. ICICI Bank Canada may, at its sole discretion disqualify, limit or revoke the offers if it suspects misuse, suspicious or fraudulent activity. For safety deposit box, annual fee will be waived for small or medium size box and will be allocated subject to availability in the branch. Money Transfers, investments, mortgages, credit cards, and any associated services and cashback rewards are subject to terms and conditions which can be found at icicibank.ca/legal or at any ICICI Bank Canada branch. The ICICI Bank, Rubyx names and logos are trademark of ICICI Bank Limited and used under license.

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Program & Events

Indo Canada Chamber of Commerce invites you to register for a welcome reception in honor of Apoorva Srivastava, Consul General, Consulate General of India in Toronto. Ms. Srivastava joined as the new Consul General of India in Toronto in August 2019. Since she took charge, she has been actively working with the Indo-Canada Chamber of Commerce in promoting Canada India bilateral relations. Her hands-on approach to promoting Canada – India bilateral relations was evident in her involvement during the visit of trade delegations led by Federation of Indian Export Organisations (FIEO), Indian Trade Promotion Organisation (ITPO) and Globalsoft 2020, where she instrumental in encouraging Canadian and Indian small businesses forge trade linkages.  Ms. Srivastava is a career diplomat, having joined the Indian Foreign Service in 2001. Prior to being appointed at India’s Consul General in Toronto, she worked with the Minister of External Affairs (January 2017 – August 2019). In her nearly two-decades-long diplomatic career, she has served twice in the Indian Embassy in Paris (August 2003 – October 2006 & August 2012 – July 2015), and in the Indian Embassy in Kathmandu (June 2009 – August 2012). In the headquarters, she has served as Under Secretary (SAARC) and as Director (Administration). Program: Date: Monday 28 October 2019  Time: 6:00 pm to 8:00 pm Venue: Roof Garden, 12th Floor, Holiday Inn Hotel Address: 970 Dixon Road Toronto, Ontario Canada M9W 1J9  Registration:Members only: $25

Please register here

Sadhguru: Inner Engineering

 

Sadhguru, a yogi, visionary and foremost authority on yoga, is in Toronto on 10 and 11 November offering Inner Engineering program. Please click below to learn more about the program & how it can enhance your mind, body and energies

to explore your full potential.

https://www.innerengineering.com/completion-with-sadhguru/toronto

 Recent Events

Chai with CEO

 17 October

Priya Dhawan-Chahal  

 

(l to r) Priyanka Goyal, Premal Brahmbhatt and Priya Dhawan-Chahal 

For members of ICCC’s YPE Committee it was an absolute pleasure listening to Priya Dhawan-Chahal, District VP, Midtown Toronto speak on her journey in financial services at ICCC-YPE’s Chai with CEO event. Priya is an outstanding leader.

With extensive experience in customer experience, business development, and strategy, she is determined to take Scotiabank to new heights. Priya has always been passionate about the work that she does. As a program champion for the Scotiabank Women Initiative, she is now helping women take their businesses to the next level through access to capital, support from senior business leaders, and education tailored to their individual needs.

It’s amazing to see that the program is allocating $3 billion in funding over the first three years to support women-led businesses. At YPE, one of our key objectives is to form a strong community where everyone has an equal chance to showcase their skillsets. It is wonderful to see a strong, successful woman like Priya inspiring other women to achieve their dreams.

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Interactive Session

08 October 

Vikas Gautam  

 
ICCC Board Members with Vikas Gautam of ABSLAMC 

Indo Canada Chamber of Commerce (ICCC) organised an invitation-only interactive session with Mr. Vikas Gautam, Chief Executive Officer, Aditya Birla Sun Life Asset Management Company Ltd. on 8 October 2019.  Mr. Gautam spoke on the Indian economy and emphasised that despite claims of a slowdown, the economy has inherent resilience and is continuing on the high growth trajectory. He praised the visionary leadership of Narendra Modi, stating that under Modi’s rule and direction, India is firmly set to become an economic powerhouse soon.

Mr. Gautam spearheads the global business at Aditya Birla Sun Life Asset Management Company Ltd (ABSLAMC), the Indian partner of Sun Life Global Investments. Sun Life Global Investments is a subsidiary of Sun Life Financial Inc. 

The interactive session provided a great opportunity to learn first hand from an industry expert the investing climate in India. It may be recalled that in January 2018, Sun Life Global Investments completed the purchase of Excel Funds Management Inc. and Excel Investment Counsel Inc. 

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Vibrant Goa 

17 to 19 October  

 

ICCC delegation at Vibrant Goa with Goa Chief Minister 

Vijay Thomas, Director, International Trade & Information Technology, Indo-Canada Chamber of Commerce, led a delegation of ICCC members to Vibrant Goa Global Expo and Summit 2019 (VG GES 2019). The prime focus of was inclusive development in key areas such as innovation, sustainability, industries, technology, youth and skill development, knowledge sharing and networking. VG GES 2019 was a one of a kind expos – something that has never been witnessed by the people of Goa and its industry. The expo showcased all the developments, newer projects and vision of growth. The knowledge summit at VG GES 2019 was organized concurrently with the Expo with an aim to bridge the gap between Goan industries and other national as well as international players. Moreover, internationally acknowledged and successful ‘Goans’ hailing from over 40 different countries shall be making a memorable visit to their native soil. VG GES 2019 was from 17 to 19 October 2019. ICCC Members including Gurcharan Kandra, Vinod Vyas, Indu Reddy, Kalpesh Joshi, among others were part of the delegation.

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GlobalSoft 2020 

18 October 

  
ICCC Board Members with Nalin Kohli of Globalsoft 

Nalin Kohli, Chairperson of Globalsoft gave a presentation on the upcoming Globalsoft 2020 exhibition and that is scheduled to be held in Hyderabad, India in February 2020. He gave insights into the Indian IT sector and the trillion-dollar opportunities in the new and promising areas of Cyber Security, Smart Cities, Health IT, Fintech, Online Education, Analytics, and E-Commerce and other subsectors. Indiasoft is the annual flagship event of the Electronics and Computer Software Export Promotion Council (ESC), supported by the Department of Commerce, Ministry of Commerce and Industry, Government of India. The session provided participants the opportunity to learn about a potential trillion-dollar digital Indian marketplace that Canadian companies can avail of through partnerships with Indian IT companies; distributor and licensing arrangements; value-added reselling; and points of presence. 

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India Show

 10 to 13 October 

Rakesh Kumar of ITPO, Pramod Goyal of ICCC, Apoorva Srivastava, Consul General & Deepak Anand, MPP

For the first time ever, India Trade Promotion Organisation (ITPO), a Government of India Enterprise, with the support of the Consulate General of India in Toronto, brought to Canada, भारत– India Show, at Hall No. 3, The International Centre, Mississauga from 10-13 October 2019. Indo-Canada Chamber of Commerce was the Partner Organisation of the show.

Speaking at the inauguration of the program, Apoorva Srivastava, the Consul General of India in Toronto, said the organising of such a show was important because it would lead to bigger programs in the future.

Pramod Goyal, ICCC’s President, said that the From Canada, we can see the steady progress that India is making economically. This is the third multisector trade delegation that has come from India in the last two months. This is an indication of the growing strength and diversity of the Indian economy.

A shared aspect of these delegations is that the delegates have all been small businesses. Small businesses play an important role in the economies of both Canada and India. Our Chamber, which is a 42-year-old trade promotion organisation, is focused on promoting the interests of Canadian small businesses.

Over 40-50 exhibitors from India displayed a range of products including handicrafts, giftware, textiles, home furnishings, carpets, gems and jewellery, leather goods, organic foods, spices, tourism and hospitality and several other ethnic goods.

The exhibition also featured India Fashion Utsav organized by Liza Productions and Management as the official Fashion Partner for ITPO.

Leading fashion designers from India showcased their latest designs from India. Amongst those who exhibited included renowned designers Charu Parashar and Dinesh Ramsay as well as other well-known local designers from GTA.

The India Show, with the array of products on display and live fashion and cultural shows, recreated glimpses of India that are not seen in Canada. It also gave an opportunity to the Indian exhibitors to connect and network with visitors for building valuable synergies for enhancing trade between the two countries.

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 Bereavement  

Funeral service for Harjit Kalsi

Elgin Mills Funeral Centre 1591 Elgin Mills Road East Richmond Hill ON L4S 1M9 Friday October 25th, 2019: 4:00 pm - 5:30 pm Family viewing 5:30 pm - 8:00 pm General viewing Saturday October 26th, 2019: 12:30 pm - 1:00 pm Family viewing 1:00 pm - 3:00 pm General viewing and Prayers 3:30 pm Cremation: After the cremation, please join the family for prayers and langar to be held at Gursikh Sabha Canada at 5:00 pm in Hall 3. Gursikh Sabha Canada 905 Middlefield Road, Scarborough ON M1V 4X1

Harjit Kalsi    15 April 1953 - 18 October 2019

Harjit Singh Kalsi, former Vice President and Director of Indo-Canada Chamber of Commerce, passed away away on 18 October following a complicated surgery at Toronto General Hospital. Mr. Kalsi was actively involved with the Chamber for over two decades and volunteered for various activities. From 2003 to 2013 he held official positions in the Chamber, serving as the Chair of the Trade Committee, spearheading the trade initiative in the Canada-India trade corridor. As Vice President and Director, Mr. Kalsi led the Chamber in Finance, Administration, and Programs and Events. Harjit, in his 66th year, was beloved husband of Kiran and adoring father of sons Baljit, Jaspal and Ajit. Harjit is survived by his sister Rosie. Much admired and respected by the Indo-Canadian community, Harjit will be deeply missed by nieces, nephews, extended family and friends.  “Harjit was always active and believed in upholding the sanctity of the organisation,” said Pramod Goyal, President, Indo-Canada Chamber of Commerce. “His untimely passing is tragic. On behalf of the Chamber, I offer sincere and heartfelt condolences to the family.” Harjit was a talented, kind, and gentle human being, with a sense of humour, quick wit, and zest for life.  For him his family was his strength; he believed in celebrating good times together and supporting one another with love. Harjit’s brother-in-law, Surjit Babra, is a member of the ICCC’s Advisory Board. The family has announced that the details of his viewing and funeral will be shared shortly as it awaits harjit's family members to arrive from around the world.