Financial Daily from THE HINDU group of publications
Friday, Nov 15, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 15, 2002 |
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Industry & Economy
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Foreign Trade Canada hopes to double trade with India Our Bureau
Mr Herb Dhaliwal, Canadian Minister for Natural Resources, with Maharaja of Udaipur, Arvind Singhji Mewar, driving the solar-powered auto-rickshaw developed by the Maharaja of Mewar Charitable Foundation at the Gateway of India in Mumbai.
MUMBAI, Nov. 14 CANADA is hoping to double the $2-billion (2001) Indo-Canadian trade, and an MoU has been signed between PCI and Tata Consultancy Services in Andhra Pradesh, according to Canada's Minister of Natural Resources, Mr Herb Dhaliwal. The Minister is currently in Mumbai, leading a delegation comprising representatives of 45 Canadian companies specialising in geoscience, geomatics, energy, mining and forest products. He said Canada could offer its technology and expertise to India in energy and alternative energy technologies. The Minister said: "We see a huge market emerging, a new middle class, which will demand more and better goods. We want to develop relations so that Canada is with India as the economy and its growth rate improves." He added that the Canadian Prime Minister recently announced that foreign aid would be doubled over the next eight years and half of it would go to Africa. He also added that the global problem of climate change meant opportunity for Canadian companies as they were strong in alternative technologies that could reduce emissions. Mr Dhaliwal also unveiled a prototype of a solar-powered auto rickshaw developed by the Maharana Mewar Charitable Foundation of Udaipur. According to Mr Arvind Singh Mewar, head of the foundation, the machine has been in the making for the last three years and is made of indigenous parts and weighs about 300 kg. He said they were hoping make an improved and cheaper version available to the public in a 1-2 years and were scouting for manufacturing and marketing partners in this venture. He said the machine could find use in rural areas, help improve rural economies, besides being environment-friendly. It could find application in airports, companies with large factory areas, and even be used to ferry tourists. Mr Dhaliwal said Canadian businessmen had complained about the lack of a level-playing field, red tape and lack of transparency in trade and added that the legal system needed to be modernised.
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