Maharashtra government, Quebec ink agreement for greater economic cooperation

Mumbai: The Maharashtra government and Canada’s Quebec province have signed a pact to increase the economic cooperation, specially in areas like information technology, biotechnology, artificial intelligence and welfare of the tribal community. Chief Minister Devendra Fadnavis, who is on a week- long tour to the US and Canada, signed a Memorandum of Understanding (MoU) to this effect with Quebec Premier Philippe Couillard on Wednesday. “We also discussed ways to increase our collaboration over knowledge-sharing on ports as today Maharashtra has the strength of majority of youngest population,” Fadnavis said in a statement.

The chief minister also met Pierre Beaudoin, chairman of the Board Corporate office of Bombardier Inc, a multinational aerospace and transportation company and the world’s leading manufacturer of aircraft and trains in Quebec. Fadnavis said Bombardier Inc has assured support to the Maharashtra Metro and Monorail Transport Infrastructure, “that will change the shape and future of mobility.” He also met Michael Sabia, the president and CEO of CDPQ (Caisse de dpt et placement du Qubec), an institutional fund manager which manages funds over US$ 298 billion.

It will help attract more Canadian pension funds investment in India, Fadnavis said. He said CDPQ has agreed to partner with some companies in India and also shown interest in working with retail partners. Fadnavis also highlighted the Maharashtra Samruddhi corridor, logistic parks and some other projects in the state as the “perfect options for investment.”

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