ICCC Weekly Newsletter
13 March 2021
Culture and Economy
As Indo-Canadians we take a lot of pride in our “culture.” In general parlance, culture is an amorphous, ambiguous term, often used to argue and defends one’s views that are more often than not connected to race, religion, language and ethnicity – arguments that go nowhere and only create animosity and ill-will.
But culture is constructive, it creates a new awareness, experiences among people, brings them together and transports them into a different dimension.
More importantly, it is connected to the economy in more ways than is at once apparent.
According to a StatsCan report released in 2019, culture and sport gross domestic product (GDP) combined was $59.7 billion, supporting 784,500 jobs in Canada (figures pertain to 2017).
The largest contributor to culture GDP and jobs was audio-visual and interactive media, which includes activities related to video game publishing, film, television and video production, as well as motion picture exhibition.
But, as Canadian Art, Canada’s premier arts journal, observes while commenting on the report, “And all those culture industry numbers don’t even include the impact of government-run organizations in the culture sector, or of education and training in the culture sector. Those impacts are $7.6 billion (government-run orgs) and $3.7 billion (education and training), respectively.”
In the Indian context, exact estimates are elusive, and there are competing statistical data. Two recent research reports are indicative of the depth and breadth of the Indian culture industry.
Dr. Megha Patnaik’s Measuring India’s Creative Economy (Report No. 003, May 2020, Esya Centre) pegged the Gross Value Added (GVA) of copyright-relevant industries amounted to ₹888.89 Billion ($12billion US) in 2016-2017, or 0.58% of the Indian GDP. But the author confesses that this is an underestimation because of lack of reliable data.
The second report, focused only on Indian film industry, pegged its valuation at ₹183billion ($2.5billion US).
The next time we take up cudgels for “culture” let us be cognisant of the economic impact of culture on our societies.
If you’re interested in reading more, go to:
Canada: Economic importance of culture and sport in Canada: Report
Canada: Culture Industries Have $58.9 Billion Impact in Canada: Report
India: Measuring India’s Creative Economy: Report
India: Value of the film industry in India from financial year 2014 to 2019, with forecasts until 2024: Report
President's Views
12 March - ICCC's 44th Foundation Day
Watch the video: ICCC's 44th Foundation Day
A very good day to all the members, stakeholders, sponsors and supporters of the Indo-Canada Chamber of Commerce on the occasion of its 44th Foundation Day. I am the 32nd President of an organization that has come to represent the aspirations of the Indo-Canadian diaspora and especially its businessfolks. It gives me immense pride to address all of you on this day to commemorate another milestone in the journey of our institution.
It was on 12 March 1977 that a group of Indo-Canadians came together to launch the Chamber, a process that had begun in a garage in January 1977. It was a small and a humble attempt to bring together the Indo-Canadian business community. It was an attempt to give precedence to commercial relations between our two democracies, at a time when diplomatic relations were facing headwinds. Over the next four-and-a-half decades, our Chamber has successfully navigated these headwinds to focus on commercial ties.
Even though our core mandate has remained unchanged, we have remained relevant because we have continued to modify our approach and delivery to suit the needs of our members, stakeholders, sponsors and supporters. The most recent example of this approach was when I welcomed the telephone conversation between the Canadian and the Indian Prime Ministers on collaborating over the Covid-19 vaccines. Our Chamber issued a congratulatory statement within hours of the phone call, giving a clarion call for other Indo-Canadian organisations to follow suit.
This first-off-the-line approach is the differentiator. That is what sets us apart. That is what had made us and keeps us the leaders of the pack. And let me give you a solemn assurance – that is what we will do in the next four decades and more.
Read Vijay's views: President's Views
Happy reading, and send us your feedback at iccc@iccconline.org
Member's View
Introducing a new column - Member's View. If you have a point of view that you think deserves a wider audience, please feel free to send it to us at iccc@iccconline.org
By Pankaj Dave
Pankaj Dave is a life member of the Indo-Canada Chamber of Commerce. He is the President and CEO of Manas International Inc.
Impact of Container Crisis
INFLATION. SHORTAGE. DISRUPTION
The Canadian economy is raring to go, be unleashed from the confines of the Covid-19 pandemic’s restrictions that were imposed globally a year back in March 2020. The last 12 months have been a witness to the grim impact of the lockdown on all aspects of the economy, and especially on small businesses. Despite all levels of government pumping in resources – mainly sops and subsidies – businesses have turned belly up in large numbers, unable to survive the colossal hit.
And thanks to overall spending activism by the federal and provincial governments (which may have a long-term impact), the Canadian economy has managed to sustain itself rather well, and is about to get into an overdrive in the coming months.
But there is a major impediment that may likely obstruct rapid recovery of the Canadian economy – Container shortage. Yes, container shortage. To a commoner it hardly draws attention, these containers are large steel boxes, often seen on a truck.
To a common consumer who has become habituated in the last 12 months of working from home and taking care of his / her needs online, it may seem farfetched that there is a container shortage. And it would do good to ponder momentarily over the most plausible cause of the global shortage of containers – imports of consumer-ordered goods and products especially from China and East Asia have turned the global economics of freight containers topsy-turvy.
Containers have a long and significant history. Initiated in the middle of the 20th century, containerized seabound transport is an incredibly dominant factor in global trade. In terms of value, global seaborne container trade is believed to account for approximately 60% of all world seaborne trade, which was valued at around $12 trillion (US) in 2017. While the quantity of goods carried by containers has risen from around 102 million metric tons in 1980 to about 1.83 billion metric tons in 2017, vessels have likewise increased their capacity. Between 1980 and 2019, the deadweight tonnage of container ships has grown from about 11 million metric tons to around 266 million metric tons. With a total capacity of around four million TEUs*(Twenty equivalent Units) – more common is 20 ft containers though there are other sizes too.
Read Pankaj's analysis, click here: Insight
Upcoming Programs & Events
ICCC's Leaders Talk Webinar Series
Indo-Canadian Leaders
PRASAD PANDA
Infrastructure Minister
Alberta
&
CHANDRA ARYA
Member of Parliament
Nepean
4:30 pm - 5:30 pm
THURSDAY 18 MARCH 2021
Register on Zoom (first 100 registrants) or Facebook
Or watch livestream on Facebook
ICCC's Leaders Talk Webinar Series
Hon. Erin O'Toole
Leader of the Official Opposition of Canada
&
Leader of the Conservative Party of Canada
4:30 PM - 5:30 PM
THURSDAY 08 APRIL 2021
Register on Zoom (first 100 registrants) or Facebook
Or watch live on Facebook
Past Programs and Events
ICCC's 2021 Thursday Talks Webinar Series
Why Indo Canadian Businesses should join Canadian Aboriginal and Minority Supplier Council (CAMSC)?
On 11 March 2021, as part of its continuing Thursday Talks webinar series, the ICCC organized a chat session with Cassandra Dorrington, President & CEO of CAMSC. She was joined by Kiruba Sanhar of the City of Toronto and Neel Patel of CSI Consulting Inc. They discussed the advantages of CAMSC to minority suppliers.
In case you missed it, watch the full recording of the webinar here
Click here to go to the YouTube recording:
What is CAMSC?
Recovery Activation Program
ENROLL NOW
Indo-Canada Chamber of Commerce has joined the Recovery Activation Program launched in 2020 by the Toronto Region Board of Trade’s World Trade Centre Toronto.
The program provides immersive training, mentoring and support to assist with digital modernization and help businesses adapt to the new normal.
The program offers participants unprecedented access to engage with industry leaders, and build their personalised plan to digitally grow their business – at no cost to them.
A strong digital approach can help all businesses operate better, create new opportunities, and support future growth. RAP ensures that participants feel confident they are approaching their digital transformation the right way.
Select ICCC as the referral agency when filling the form
https://wtctoronto.com/rap
Instructions to fill out the form: Choose Chamber of Commerce, then choose Other, and then type ICCC or Indo-Canada Chamber of Commerce.
In the News
India promotes multilateralism
Participates in
1st Quadrilateral Leaders' Virtual Summit
India to ramp up COVID-19 vaccine production under landmark partnership
Under a landmark COVID partnership launched at the first summit of Quad leaders held on Friday, India will expand its vaccine production capacity with the support of the US, Japan, and Australia. This will ensure accessibility of safe COVID-19 vaccines to countries in the Asia Pacific Region.
“United in our fight against COVID-19, we launched a landmark Quad partnership to ensure accessibility of safe COVID-19 vaccines. India’s formidable vaccine production capacity will be expanded with support from Japan, US & Australia to assist countries in the Indo-Pacific region,” India’s Prime Minister Modi tweeted.
Earlier, during his opening remarks at the virtual summit, Prime Minister Modi said the Quad nations of India, the United States, Australia, and Japan were united by their democratic values, and their commitment to a free, open and inclusive Indo-Pacific.
“We will work together, closer than ever before, for advancing shared values and promoting a secure, stable and prosperous Indo-Pacific,” the Indian Prime Minister said.
US President Joe Biden was the first to address the summit, followed by Prime Minister Modi, Australian Prime Minister Scott Morrison, and Japanese Prime Minister Suga Yoshihide.
Thanking President Biden for the initiative in his opening remarks at the summit, the Indian Prime Minister said, “It is good to be among friends!”
Read India's Prime Minister Narendra Modi's speech: Modi at Quad
Hosts
1st Meeting of the BRICS Contact Group on
Economic and Trade Issues
The BRICS Contact Group on Economic and Trade Issues (CGETI) leads held their first meeting under India’s Chairship from 9-11 March 2021. The theme of BRICS this year is – “BRICS@15: Intra BRICS Cooperation for Continuity, Consolidation, and Consensus”.
The deliverables proposed are on
Action plan based on the document “Strategy for BRICS Economic Partnership 2025” adopted during Russian Presidency in 2020
BRICS Cooperation on Multilateral Trading system including cooperation for the TRIPS Waiver proposal at WTO;
Framework for Consumer Protection in E-Commerce;
Non-Tariff Measures (NTM) Resolution Mechanism;
Sanitary and Phyto-Sanitary (SPS) Working Mechanism;
Co-operation framework for protection of Genetic Resources and Traditional Knowledge;
BRICS Framework on Co-operation in Professional Services. Each of these sessions was followed by detailed feedback sessions.
Read the media release: BRICS Meeting
Announcements
CAMSC's
Diversity Procurement Fair 2021 & Pitch for Success Competition
CAMSC Diversity Procurement Fair 2021 - Virtual Event, is about making strong connections that build successful partnerships. It’s about collaboration and brainstorming fresh insights from diverse businesses.
This year our theme Breakthrough to Brilliance is all about bringing out the best and recognizing each sector/industry represented by our network. We are excited to bring you yet another virtual networking event with tons of new opportunities.
Building on the success of CAMSC's first virtual conference, Diversity Procurement Fair 2021_Virtual Conference will be held on April 20 & 21 and 27 & 28, 2021.for the Canadian small businesses and exporters to connect with the Canadian, U.S. and International Corporate Buyers.
Attendees who attended the annual multi- day business facilitation and networking event will be given insights to innovation in an adapting world.
Supplier diversity leaders from industries such as Automotive, Banking, Pharma, Information Tech/ Artificial Intelligence, Construction, Food & Beverage, Energy and Govts/Technology will participate in a wide range of online webinars and meet with diverse suppliers.
This year CAMSC is adding a brand-new format to the INVITE ONLY sessions – The Corporate Member Forum, along with the Supplier Bootcamp, to give focused attention to our Corporate and Supplier network.
Export Forum, matchmaking and networking events will be also included. New sessions included: CMF, Pitch Competition, New Member’s Reception.
Meeting Marketplace is expanded to two days to provide more business opportunities for Certified Supplier and Corporate Members.
When: April 20, 21, 27, 28
Where: Virtual Conference
REGISTER NOW
Academic Research
Invitation to participate in University of Waterloo Research Project
on "Leaving a Corporate Job & Starting a Business"
Alison Braithwaite, PhD. Candidate, Department of Geography and Environmental Management, University of Waterloo, is conducting a research on why people leave the Canadian corporate workplace to start businesses aimed at positive social and/or environmental change. She is looking to recruit participants from among the members of the Indo-Canada Chamber of Commerce because she is of the view that our members may be the type of participants she is looking for.
Alison’s means of data collection are one on one interviews (virtually). The interviews take about 60-90 minutes and participants are asked to share their stories of
Their experience in the corporate workplace that they left (company, culture, values, emotional environment, role, sense of self, sense of belonging/connection, tension/conflicts within them/within the workplace, supports)
Their experience of making the shift (supports, personal values, emotions, sense of self, sense of belonging/connection, conflicts/tensions)
Their experience in creating your business (culture, values, emotional environment, sense of self, sense of belonging/connection, conflicts/tensions)
Interviews are completely confidential the participants' names, or any company names will not be used in write ups that result from the research. You can find more information about my research on my website http://www.alisonbraithwaite.com/research-information-letter/ or on the attached pdf.
Contact
Alison Braithwaite
ajbraith@uwaterloo.ca
905-328-0445
Indo-Canada Chamber of Commerce
924 The East Mall Toronto ON M9B 6K1
Tel: (416) 224-0090 Fax: (416) 916-0086
Email: iccc@iccconline.org
Website: www.iccconline.org
