Canada eyes invest in education, financial services, infrastructure

10 November 2011: India's plan to double the number of students attending secondary institutions by 2020 will require construction of a thousand universities and some 50,000-odd colleges. Since Canada is a world leader in education, we can help. Education is a very critical component of what we are seeking to do in India. Canada has a robust auto industry as does India and we want to take advantage of the opportunities that India's new National Manufacturing Policy offers. The negotiations are making progress. The next round of talks will be in December. The country aim to complete the negotiations in 2013. Financial services is a priority area for us and we are looking for broader market access for our agricultural goods, wood products, pulp and paper, fish and sea food, beef and pork as well as progress in terms of Canadian investment in India's infrastructure sector.India's business environment, regulatory and legal systems are unfamiliar. Many Canadian companies interested in doing business with India are still overly cautious because of some barriers to investment.

FIPA will have a clear set of rules on making investments and on dispute settlement. We can remove many trade and investment barriers if we complete FIPA and CEPA. These will provide the kind of assurance that our companies need in order to invest in each others' economies. India has voiced its concern about the Anti-Counterfeiting Trade Agreement (ACTA), saying that it could undermine global rules on intellectual property. Since Canada is a party to ACTA, it is very important to us that innovation, research and entrepreneurs are key drivers of our economic growth. The CEPA's focus is to enable India and Canada to take our trade relationship to a new level. It would be a mistake for me to presume what will be discussed and what directions those negotiations will take.

Source: Hindubusinessline