Gujarat aims to tap Canadian investors

Canadian investors have been invited to participate in the fifth biennial 'Vibrant Gujarat' summit, a global investors' meet organised by Gujarat, on January 12 and 13 next year.

D J Pandian, the Principal Secretary of Energy and Petrochemical Department of the Gujarat government, during a roadshow on Monday appealed to the Canadian business community to partner with the Gujarat state, bringing out its relative strength as an investment friendly destination.

Pandian, who led an 18-member high-powered business delegation from the state, said, "The global investors meet aims at facilitating investment alliances between the participating countries."

"We are here to also see how Canadian can join Vibrant Gujarat so as to improve on business opportunities in India where on an average earning of foreign investors is not less than 15 per cent after tax in Gujarat. We are also looking forward to a meaningful partnership with Canada," Pandian said.

He said that they are looking for Canadian investment in clean energy, oil and natural gas, power, mining of minerals and metals, chemicals, health care and fashion designing. Pandian said that he had fruitful meetings with Ministers and senior officials of Ontario government on the issue of clean energy, technology transfer, and knowledge sharing and would meet top officials of Canadian government in Ottawa later this week.

University of Western Ontario has also shown keen interest in providing higher education so that Indian students could compete globally.

He said that the delegation discussions with members of Indo-Canada Chambers of Commerce, Canada-India Foundation, Canada-India Business Council and Ontario Board of Trade.

Besides Toronto, the delegation would visit Regina, Winnipeg, and Ottawa before leaving for the United States. R J Shah, Chief Executive Officer of Dahej Sez Ltd, a state run corporation which runs special economic zone and offers world infrastructure and single window clearances for Central and State approvals, said that he got positive response from Canadian companies for investment in Gujarat.

Electrovaya, Canadian company which manufacture lithium batteries was exploring possibility of joint venture with Indian companies.

Prime Minister Manmohan Singh's visit to Canada earlier this year gave a fillip to bilateral trade and investment between the two friendly countries.