Canadian business shifting from China wooed

Indore: Businessmen of Madhya Pradesh and government officials of India and Canada discussed the prospects of shifting of Canadian investment from China in the post-Covid-19 scenario, through a webinar on Tuesday during which local industrialists highlighted the strong points of Indore and Madhya Pradesh as an ideal investment destination.

The topic of the webinar was ‘To invite Canada Industry established in China’, which was organised by the Indo -American Business Chamber, in association with Government of Toronto Canada to attract Canadian industry & businesses at present working in China, but who want to shift from China after the Covid-19 pandemic.

Participating in the webinar, Pratapchand Sarangi, Minister of State for MSME, GoI, highlighted opportunities in India and reforms done by Govt. of India such as changes in FDI policies, the lowest corporate tax rate. He also informed about the government's initiative & different reforms including labour law reforms and ease of doing business. He said that looking at long term benefits about 2000 industries the world over had expressed their interest and are talking with the authorities to shift their businesses to India.

Canadian High commission in India fully supports this endeavour and follows up Canadian companies having operations in China. Their Trade Commissioner Kapil Malhotra and Govt. of Canada Senior Representative Sean from Toronto, Canada were present in the webinar.

Member of Parliament Shankar Lalwani, who was guest of honour participated and explained the benefits of making investment in India, which had a huge local market.

Vinay Kalani, Convener of Indo-American Business Chamber explained the purpose of the webinar was to present India as the best investment destination. There would be hand-holding of industries shifting from China. He informed that already we are in touch with more than 450 industries and business of Canada who are now operating in China through the Canada embassy and we expect very fruitful results.

Many industrialists, businessmen and consultants from the city were present and participated in webinar including Lughu Udyog Bharti State President Mahesh Gupta, Deepak Tiwari President Kentucky Chamber (USA), Naresh Kumar Chavda from Taronto Canada.

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