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14-August-2014
Indo-Canada Chamber of Commerce (ICCC) organized a business reception for the visiting delegation from Federation of Karnataka Chamber of Commerce & Industry (FKCCI), India on 11th August, 2014 at the Courtyard by Marriott Hotel in Brampton.
S. Sampathraman, President, FKCCI led the Indian delegation comprising 28 representatives from the different industrial sectors including agro processing, diesel generator manufacturer, industrial raw material and others.
ICCC President Mr. Dharma P Jain |
In his welcome remarks, Dharma P Jain, President, ICCC, emphasized the significance of the bilateral visits of business delegations and the role ICCC has played in promoting bilateral trade and investment between Canada and India in diverse sectors. Mr. Jain, welcome the Indian government’s decision of increasing the FDI cap from 27% to 49% in defense and Insurance sector and hoped that the Indian government would also pave the way for FDI in retail sectors as well in near future.
In his remarks, Mr. Sampathraman said that Karnataka Government is planning to introduce concessions for the foreign direct investment for developing industry in the state next year. Canadian companies can benefit from these concession by starting joint venture with their Indian counterparts or otherwise.
Hon. Bal Gosal, Federal Minister of State for Sports |
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Mr. S Sampathraman, President FKCCI |
Hon. Bal Gosal, Federal Minister of State for Sports, emphasised that India is a priority market for Canada and hoped to complete the ongoing negotiations for developing high quality trade, economic growth, creating more jobs, free market access and to utilize the community network for further enhancing the trade ties. Both countries are willing to work jointly in sectors such as energy, food security, aviation, infrastructure and defence.
Mr. Naval Bajaj, Immediate past President ICCC lauded the ICCC initiative in starting the India Missions a couple of years back. ICCC led India Mission 2013 had a wide range of meetings with the FKCCI and the Canadian delegates explored the business opportunities in Karnataka.
Mr. K Ravi, Chairman International Businesses, FKCCI appreciated the Canadian government’s decision to set up a trade office in the city which will be fully operational next month. It will help to connect the businesses of the two countries.
Mr. R K Raina, Head Of Chancery and Commercial Consul, Consulate General of India in Toronto, in his remarks lauded the remarkable work of ICCC in promoting bilateral trade between Canada and India.
L to R: Standing ICCC board member Naval Bajaj, Rajni Tekriwal, Ginni Sethi, Tony Chawla, Sanjay Makkar
L to R: Sitting ICCC President Dharma P Jain, Minister Bal Gosal, FKCCI President Sampthraman, Consul (Com) R K Raina, CGI Toronto |
The event was attended by ICCC board members, representatives of City of Markham, City of Brampton, Brampton Board of Trades, business leaders and ICCC members.
Mr. Tony Chawla, Vice President, Events, ICCC was the master of ceremony and delivered vote of thanks.
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