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  • 16 Mar 2016 9:30 AM | Mayank Bhatt (Administrator)

               

    ICCC Newsletter  
    March 2016  
     
    Letter from the President

    At the Indo-Canada Chamber of Commerce, the advent of spring is when we begin the process of sifting through the nominations that we receive for our Annual Awards. The process of selecting the winners from the nominations we receive is the task of an independent advisory board. Of course, the board of the Chamber and its staff put in a tremendous amount of hard work in making the process seamless. And at the end of the process, we select the best that the Indo-Canadian community has to offer – 11 individuals who have made a significant and stellar contribution to the fabric of the Canadian society through their work. Nine of these awards are people’s nominations, and two are chosen by the Chamber.

    Over the last two decades and more, the ICCC Annual Awards have come to epitomize the social consciousness of the Indo-Canadian community’s entrepreneurs and professionals, who believe not merely in working hard to prosper and do well for themselves, but also to directly contribute to make Canada a better place. It is this commitment to Canada that makes our award winners different. Nearly every year, the advisory board members are at a loss because they have to choose just one person for each category from the list of nominees, and each of the nominations we receive are of achievers who are great and remarkable in their own way.

    It is one of our Chamber’s mandates to recognize the achievements of Indo-Canadians through the AnnualAwards, and over the last 23 years, we have undertaken this task with the seriousness it deserves. We have always been in the forefront of recognizing achievement, and in most cases, our award winners have subsequently gone on to garner greater glories from mainstream Canada.

    I urge you to nominate a deserving achiever, and we all know achievers in different spheres of life. Take a look at our categories, and the requirements for each of them, fill out the form and send it to us along with the requisite supplementary information. It is our responsibility as members of the Indo-Canadian community to ensure that the best amongst us get the recognition they deserve.

    For more information on our awards, please click here: Call for Nominations - 2016 Awards

     Click here for more: Letter from President

    Business Snippets   Programs & Events   Global Tenders

           
    A brief summary of the most
    significant economic news
    during the last month.






      A quick recap of the recent
    programs and events
    organized by
    the ICCC.
    This month's
    recap is about the
    just-concluded
    India Mission 2016.


     
    A list of latest
    Global Tenders
    floated by the
    Government of India.






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    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: 416-224-0090416-224-0090 . 

    Fax: 416-916-0086. 
    E-mail: iccc@iccconline.org 

    Website: www.iccconline.org


  • 08 Mar 2016 6:30 PM | Anonymous

    Empowering Women = Empowering Society

     ICCC's Fifth Annual International Women's Day Celebration
       
     
     Participants at ICCC's Annual International Women's Day Celebrations

    Women empowerment has many dimensions and many aspects. It is connected to a career, wealth, success personally and professionally. On their journey to fulfillment and empowerment, women face discrimination and gender bias, orthodoxy in personal spheres, conservative moors and the necessity to adjust in an ever-changing as well as an ever-shrinking space.

    These and many other related issues were hotly discussed and debated earlier this week on the occasion of the International Women’s Day at the Indo-Canada Chamber of Commerce’s headquarters in Toronto. The panelists and the audience included some of the Indo-Canadian community’s most successful women. They included entrepreneurs, professionals, community leaders, artists, academics. All of them are all this in addition to their primary role of being home makers.

    The panelists were: Ms. Lata Pada, Founder & Artistic Director of Sampradaya Dance Creations; Ms. Chinyere Eni-McLean, Financial Planner RBC Royal Bank; Ms. Vicki Saunders, Founder of SheEO; and Ms. Neena Kanwar, Co-founder of KMH Cardiology and Diagnostic Centres.

    This was the fifth annual International Women’s Day panel discussion organized by ICCC. And the diversity of views represented by the panelists and the audience gave a different dimension to the theme of Women Empowerment. Among the issues that the panelists discussed included the following:

    • What is Women Empowerment? Is it limited to a career choice, generating wealth and corporate success or is itsomething intangible
    • Dealing with discrimination and gender bias
    • The two biggest challenges faced in the journey to success
    • Traditional conservative families – are they the biggest hurdle to women empowerment
    • How can women empowerment change social structure of the society

    In her welcome remarks, Ginni Sethi, Vice President, Women Entrepreneurs and Professionals (WEP), and Membership said that the two of the panelists had been awarded by ICCC in 2001 and 2003. She said that Women Empowerment refers both to the process of self-empowerment and professional achievements, which enables women to overcome any obstacles to achieve success.

    It also reflects women’s ability to use their developed skills and intellect to shape future for an unbiased social structure. Active participation of women in all spheres of life will help in promoting new ideas, rational decision making and positive use of socio-eco and political power.

    Mr. Sanjay Makkar, President ICCC in his welcome remarks said that the chamber is giving more importance to the women and working towards promoting the women entrepreneurship. All the committees of the ICCC have women members. He also announced that Ms. Devika Penekelapati had been inducted into the Chamber’s board in early March. “Our Chamber started to celebrate the international women’s day from 2012 onwards in recognition of the growing contribution of women in all the spheres of life,” he said.

    The panel discussion drew tremendous response from the ICCC members and non-members and was attended by an overwhelming number.

    Ms. Shibani Sahney, Chair WEP committee moderated the session and also gave a vote of thanks.

     
     Panelists with ICCC & WEP leadership 


  • 07 Mar 2016 6:30 PM | Anonymous

    Canada-India Collaboration in Mining 

     ICCC's Business Reception for Indian Delegation to PDAC, Toronto

       

     

     Delegates and ICCC team along with political leaders at ICCC's business reception for Indian delegation to PDAC

    Indo-Canada Chamber of Commerce (ICCC) organized a business reception for the Indian mining delegation visiting the annual Prospectors and Developers Association Convention (PDAC) in Toronto on 7th March, 2016.

    PDAC International Convention, Trade Show & Investors Exchange is the world’s leading convention for people, companies and organizations in, or connected with, mineral exploration. This is the biggest convention in Canada where, 1100 exhibitors and 25,000 attendees come from over 100 countries participate.

    Nikunja B. Dhal, Joint Secretary, Ministry of Mines, Government of India, led the Indian delegation comprising over 26 representatives from the government and the private sector, including Managing Director of Nalco and VALCO India.

    The ICCC hosted the delegation for dinner and an attendance was over 70 came to listen to the mining opportunities in India. In his welcome remarks, Sanjay Makkar, President, ICCC, emphasized the significance of the PDAC convention and the role chamber has played in promoting bilateral trade and investment between Canada and India in the mining sector.

    ICCC’s Mining Committee under the leadership of Mr. Pappur Shankar is working hard to promote the Canada India relations in mining sector. The Chamber wanted to share Canadian mining experience of over a century and especially the state of the art technology that Canada has to offer to tap the unlocked potential in the mining sector of India, said Makkar.

    R K Perindia, Acting Consul General of India in Toronto, lauded the remarkable work of ICCC in promoting bilateral trade between Canada and India, and its focused initiatives in the mining sector. The delegation is looking for Canadian companies to invest in India. The delegation leaders gave information about the following areas of interests and seeking Canadian companies to participate.

    • Investment opportunities in Mining, Metal & Energy sectors
    • Mineral assets of interest: Bauxite, Thermal Coal, Copper etc
    • Greenfield Aluminium Smelter with Captive Power Plant (Investment opportunity of 3 Billion USD)
    • Technology support, R&D
    • Extraction of Alumina from low grade ore/ fly ash
    • Aluminium Smelter – Reduction of Energy consumption
    • Iron concentrate from red mud.
    • Development of new applications and alloys of Aluminium
    • Extraction of Gallium, Rare Earth elements from Bayer Liquor/Red mud

    Dipika Damrela, MPP, and Norm Miller MPP, were also present. Mr. Pappur Shankar moderated the discussion, and Mr. Jagdish Bajaj offered the vote of thanks.

     

     MPP Norm Miller (l), Nikunja B. Dhal, Joint Secretary, Sanjay Makkar and Arun Srivastava (r)


  • 29 Feb 2016 1:30 PM | Anonymous

    Roundtable with Hon. Rona Ambrose

     Leader of Conservative Party of Canada & 

    Official Opposition in the House of Commons assures  

    continued support to small businesses

     

     Hon. Rona Ambrose with ICCC team

    Hon. Rona Ambrose, the interim leader of the Conservative Party of Canada and the Official Opposition in the House of Commons, visited the Indo Canada Chamber of Commerce’s (ICCC) headquarters in Toronto on 29th February 2016 for a roundtable to discuss the issues faced by the Small and Medium Entrepreneurs before the federal budget.

    Mr. Sanjay Makkar welcomed Hon. Ambrose on behalf of the Chamber and briefed her about the different set of Chamber’s initiatives to promote Canada India bilateral trade. He gave Hon. Ambrose detailed information about the ICCC’s India Mission 2016 when the Chamber led over 50 Canadian small businesses to explore the burgeoning Indian market. The ICCC President said that during the India Mission, the Chamber visited nine Indian cities, and held B2B meetings, seminars, and industry tours to explore the possibilities for the promotion of the commercial ties between the two countries.

    Hon. Ambrose expressed gratitude to the warm welcome that was given to her by the ICCC on her first visit to the Chamber. She lauded the Chamber for undertaking the task of advocating the cause of small businesses, and emphasized the increasing significance of small businesses as employment and wealth generators globally and especially in Canada.

    Hon. Ambrose assured the executive team of the ICCC and other participants, a majority of whom are small entrepreneurs, that her party would continue to be committed to the small entrepreneur in Canada, focus upon the challenges that the small and medium businesses face in a rapidly changing environment, especially with the precipitous downslide in the global prices of most natural resources, which forms the backbone of the Canadian economy.

    She emphasized that as the leader of the official opposition, she would continue to focus on the Canadian economy and consistently raise the issue at the federal level of the difficulties faced by the business community. In the interaction, participants discussed topics like energy, mining, infrastructure, tax structure, deficit budgeting and its impact on the Canadians and real estate.

     

     

     Discussing small enterprises

     Ambrose and Makkar


  • 25 Feb 2016 6:30 PM | Mayank Bhatt (Administrator)

    A match made in heaven

     Indian appetizers and Ontario wines
     
     ICCC team with Ramesh Srinivasan and other organizers of the program 

    Wine and a combination of assorted cheese and crackers are the de ri·gueur hors d'oeuvre at most formal and informal meetings in North America; other accompaniments often include carrots, celery. It is inconceivable to pair wine with Indian appetizers. The connoisseur of both wine and Indian appetizers would frown upon such a pairing. However, as culinary innovation, especially fusion among Indian and Western cuisine increasingly become a norm, such experimentation is acquiring a new propensity as well as acceptance.

    As part of its mandate to integrate the Indo-Canadian community into the fabric of Canadian mainstream, the Indo-Canada Chamber of Commerce (ICCC) in collaboration with Humber College’s Centre of Culinary Arts & Science organized a presentation by Ramesh Srinivasan at Humber College last week on pairing of Ontario wines and Indian appetizers. It may be pertinent to note that Ontario produces some of the world's best wines and has over the last few decades acquired a strong global reputation for being home to some of the world's best vineyards. Equally pertinently, Indian cuisine has increasingly gained wider acceptance across Canada, and is becoming popular among a cross section of Canadian people from different backgrounds.

    Ramesh Srinivasan, a wine educator who serves as a member of the Liquor Control Board of Ontario (LCBO), is a key wine enthusiast devoted to understanding the intricate nuances of wines, and has an equally keen interest in experimenting paring Indian appetizers with different forms of wine. He holds the advanced certificate in Wine and Spirits, and has passed the certified specialist of wine program. He is teaching a program on food and wine pairing at Humber Institute of Technology and Advance Learning.

    From the enthusiastic response with which the members of the Chamber participated in theprogram, it was obvious that the pairing of wines and Indian appetizers was an idea whose time has come. Mr. Ramesh Srinivasan gave detailed information on different wines and delved deep on the importance of pairing of wine and food.

    Mr. Sanjay Makkar, President, ICCC, thanked the Humber College for collaborating for this event with the chamber. The wine was sponsored by Family Wines (FMW) and Constellation Brands whereas the Indian appetizers were sponsored by Warraich Meats.

    The following wines were shown as pairing with the Indian appetizers.

    Riesling and Onion Bhajia Riesling is a highly aromatic and fruity grape variety. It has been regarded as the greatest white wine grape for hundreds of years. Throughout history, Riesling has been revered for its vibrant personality, its pure fruit flavors, its astonishing diversity of styles, its ability to show you where it was grown, its versatility with food, and its ability to age for decades. Onion bhajias – the staple of Indian snacks throughout the year, but especially during the monsoon, pairs best with Riesling.

    Pinot Noir and Chicken Malai Tikka Pinot Noir is the most highly prized wine in the world; this wine is pale in color, translucent and their flavors are very subtle. Pinot noir wines are among the most popular in the world. Joel Fleischman of Vanity Fair describes pinot noir as “the most romantic of wines, with so voluptuous a perfume, so sweet an edge, and so powerful a punch that, like falling in love, they make the blood run hot and the soul wax embarrassingly poetic.” Chicken Malai Tikka has a robust character that combines the strength of malai with the suppleness of the chicken, and pairs wonderfully with Pinot Noir, an utterly feminine wine.

    Cabernet Franc/Cabernet sauvignon and Tandoori Mushrooms Cabernet Franc is medium-bodied red wine whose origins lie in the Basque country of France. The wine is loved for its savory, bell pepper-like flavors, medium-high acidity and mouth-watering taste. It is an ideal food pairing wine. You can find single-varietal Cabernet Franc wines, but the variety is also quite popular as blending grape in the famous Bordeaux Blend. Indians have only recently and begrudgingly incorporated mushrooms into their cuisines, and as with everything they do, they have Indianized mushrooms by shoving them into a tandoor, thus transforming it into an utterly delectable delicacy. Cabernet Franc and Sauvignon paired with tandoori mushrooms is a rare delight that is at once innovatively tasty and yet quintessentially simple and straightforward.

    Baco Noir and Peshawri Kabak (lamb) Baco Noir's origins go back to 1894, when French grape breeder François Baco crossed Folle Blanche with an unknown member of the New World's Vitis riparia family. With its light to medium body, good acidity and preference for cooler climates, Baco Noir is a grower-friendly alternative to Pinot Noir. It does not express the distinctive foxy aromas and flavors of other Vitis riparia varieties, but instead shows rich fruit tones, typified by blueberry and plum.

    Sauvignon Blanc and Chili Paneer Sauvignon Blanc is one of the most popular white wines in North America, often referred to as “grassy,” it is known for its refreshing crispness, which is due to its high levels of acidity and low amounts of sugar. The Sauvignon Blanc grape originated in the Bordeaux region of France, and it is believed that the grape was given the name Sauvignon Blanc from the French word sauvage, which means wild, because the grape grew like a weed throughout the region. Chili Paneer is the hot and savoury Indian appetizer that is impossible to resist. It would pair exquisitely with Sauvignon Blanc because it is diametrically opposite in composition, quality and taste. This pairing proves that opposites attract.

    Chardonnay and Chicken Samosa Describing the flavors of Chardonnay is no easy task. While many Chardonnay wines have high aromatic complexity, this is usually due to winemaking techniques (particularly the use of oak) rather than the variety's intrinsic qualities. Malolactic fermentation gives distinctive buttery aromas. Fermentation and/or maturation in oak barrels contributes notes of vanilla, smoke and hints of sweet spices such as clove and cinnamon. Extended lees contact while in barrel imparts biscuity, doughy flavors.  Pairing this sophisticated wine with chicken samosa is again an attempt to compliment sophistication with simplicity.

       
     Sanjay Makkar  Arun Srivastava


  • 17 Feb 2016 6:30 PM | Anonymous

    Mining Opportunities between Ontario and India 

     

    From L to R: Pappur Shankar, MPP Norm Miller, Acting Consul General R K Perindia,
    Deborah Clark Forster, Devin Cranston, Sanjay Makkar & Neil Robinson

    Indo Canada Chamber of Commerce organized a seminar on Mining Opportunities between Ontario and India, on Wednesday 17 February 2016 at the ICCC headquarters. Mr. Devin Cranston, Trade and Investment Marketing – Ontario Ministry of Northern Development and Mines, was the guest speaker at the seminar.

    Devin Cranston has been with the Ministry of Northern Development and Mines for 15 years. Prior to that, he worked in surface and underground mineral exploration and in mine production and development. While with the Ministry, Mr. Cranston has worked for the Ontario Geological Survey, the Geosciences Laboratories the Mines Rehabilitation Inspection and Compliance Section, the Abandoned Mines Group, Mineral Development and Lands Branch, Mining Lands, Mining Lands Dispositions, Information and Marketing Services section and the Mineral Sector Analysis Unit. 

    In his current role within the Trade, Investment and Marketing Unit, Mr. Cranston focuses on promoting mineral sector investment opportunities to both domestic and international investors. 

    His presentation focused on the following key topics:

    • Overview of mineral exploration and mining in Ontario
    • Summary of Ontario’s mining supply and services sector
    • Update on industry activities, current challenges and future opportunities
    • Identifying and capitalizing on emerging minerals sector opportunities between India and Ontario

    In his presentation, the Cranston said that Ontario has a long experience of mining in different minerals and metals, and in developing cutting-edge technology to mine. He said that Ontario is home to some of the largest and most successful mining companies in the world. The province is a leader in mineral production with 27 percent share in the total Canadian mineral production followed by Quebec, Saskatchewan, British Columbia and others. The major metals are nickel, gold, copper, zinc and platinum and are of $ 475 billion (2014) value. Ontario is also a leader in exploration spending and working on the advances mineral projects. 

    The Minister spoke about the Ring of Fire, and described it as the most significant and compelling discovery of mineral deposits in Ontario in over a century. The region has massive undeveloped surface deposit of chromite. It has very high grades, excellent chrome to iron ratios, Ni-Cu-PGM deposits as well. The Minister said that exploration to date has likely only scratched the surface; Noront Resources Ltd. has consolidated much of the known resources in the area.

    India with its highest economic growth in the world is the future market for the minerals. A MOU between the Ministry of Mines of the Republic of India and the Ontario Ministry of Northern Development and Mines was signed in July, 2010 is a strategic tool that provides the groundwork for further relationship building and business development between Ontario and India. 

    India produces 89 different minerals and has more than 3,000 operating mines, of which approximately one-third are privately owned. In order to meet the needs of its growing demand, Indian government has opened up its mining to direct foreign investment through the development of a new mineral policy, which will reduce government regulations and promote private sector involvement.

    Ontario is committed to maintaining a formal relationship regarding geology, mineral resources, mineral exploration, innovation and technology with India. The key to moving forward will be in identifying areas of mutually beneficial interest. 

    Mr. Sanjay Makkar, ICCC President, welcomed the participants, and said mining is one of the key focus sector in the chamber’s mandate. "We have had a long tradition of working on this sector to develop economic relations in mining and mining technology between Canada and India, and especially Ontario and India."

    Mr. Pappur Shankar, ICCC's Director for Energy and Mining introduced the speaker to the participants. 

    Participants at the seminar

    Participants at the seminar


  • 11 Feb 2016 6:00 PM | Anonymous

    Honesty is the best policy

     Supreme Court of Canada ruling in Bhasin vs. Hrynew 
    lays down stringent business norms
     
     Participants at the event, with ICCC team 

    Indo Canada Chamber of Commerce organised a seminar on Good faith in commercial relationships on 11 February 2016 at the ICCC headquarter. Mr. Rahool Agarwal, litigation partner, Norton Rose Fulbright Canada LLP, was the speaker at the event. He discussed the case of Bhasin v Hrynew, the Supreme Court of Canada (SCC) established a general obligation of good faith in the performance of contracts and a duty of “honest performance”, which applies to all contracts and requires parties to act honestly with one another in relation to the performance of their contractual obligations.

    The SCC's decision was greatly anticipated and its impact was recognized immediately; however, the decision leaves much to consider in terms of the contexts in which the duty of honesty will apply, its minimum requirements, and what is expected of the parties. The ruling, Bhasin v. Hrynew, involves a dispute between Harish Bhasin, a retailer, and Canadian American Financial Corp., the wholesaler. Larry Hrynew was a competitor of Bhasin’s working with CAF.

     
     ICCC leadership with the speaker

    Bhasin and CAF were engaged in a three-year contract that entitled Bhasin and his sales agents to retail CAF products. The contract would be automatically renewed unless one of the parties gave at least six months’ notice prior to the end of the period. The case outlines the rather convoluted tale of how Hrynew attempted to capture Bhasin’s clientele — at first by suggesting a merger, then by working with CAF to mislead Bhasin and pressure him into a merger. In the end, CAF terminated Bhasin’s contract and his sales agents jumped ship to work with Hrynew.

    Bhasin sued both parties, claiming a conspiracy and that CAF’s conduct constituted a failure to act in good faith. The trial judge agreed, but CAF and Hrynew won at the Alberta Court of Appeal on the basis the contract renewal terms were unambiguous and no duty of good faith had been provided for in the contract.

    The SCC — in a unanimous decision written by Justice Thomas Cromwell — reversed the appeal court and established a new good faith doctrine and a duty of honesty between contracting parties. The decision states: “… there is a common law duty which applies to all contracts to act honestly in the performance of contractual obligations. … The organizing principle of good faith exemplifies the notion that, in carrying out his or her own performance of the contract, a contracting party should have appropriate regard to the legitimate contractual interests of the contracting partner.”

    Corporate lawyers agree that the case has “massive implications” for businesses across Canada. The ruling creates new law around an overarching doctrine of good faith from which many specific duties may extend. That overarching principle can give rise to various duties, and the court doesn’t define what the outer limits of those duties are. In this case, one of those duties is a duty of honest performance in contracting, which means basically that parties can’t lie or knowingly mislead each other with respect to the performance of their contractual obligations.

    Mr. Sanjay Makkar, ICCC president welcomed the participants. In the photograph above, the ICCC President is presenting a memento to the speaker.


  • 10 Feb 2016 9:55 PM | Mayank Bhatt (Administrator)

    ICCC Newsletter  


    February 2016  
     

    Letter from the President

    After our Chamber’s highly successful India Mission 2016 that concluded in January, Canada-India business relations continue to surge with Ontario Premier Hon. Kathleen Wynne and Prince Edward Islands Premier Hon. H. Wade MacLauchlan leading separate business and trade missions to India.

    Our mission focused on four key sectors – Life Sciences, Food and Beverages, Tourism and Hospitality, and Smart Cities. These are the sunrise sectors for Canada-India trade relations. Our members will recall that during Indo-Canada Chamber of Commerce’s India Mission 2016 we signed a series of path-breaking MoUs with state governments, business chambers and other institutions; more importantly, even our delegates signed commercial agreements for future collaboration with counterparts in India.

    Hon. Patrick Brown, MPP and Leader of the Ontario PC Party had accompanied ICCC’s India Mission 2016. He along with other caucus members of the Ontario PC Party had also met India’s Prime Minister Hon. Narendra Modi during that trip. “It was a great opportunity to catch up with my good friend and ‘brother’ Narendra Modi, and highlight the multitude of trade opportunities between our two countries. There are more than one billion consumers in India – Ontario needs to access that market,” Hon. Brown had said after the meeting with the Indian Prime Minister.

    As a non-partisan organization whose mandate is to promote Canada-India bilateral trade relations, our Chamber wholeheartedly welcomes the efforts Hon. Kathleen Wynne has undertaken to foster our province’s relations with India. After the then Premier Dalton McGuinty’s India visit in 2010, Hon. Wynne has opened doors on several areas of cooperation between Ontario and India, and especially in the sphere of developing Smart Cities. 

     Click here for more: Letter from President


    Insight

    Indian equities are already one of the most popular investments among fund managers globally. However, Indian bonds are also growing in attractiveness as an option for high-quality, high-yielding fixed-income investments – making them a perfect complement for investors seeking to capitalize on opportunities in the world’s fastest-growing economy.

    On Tuesday, February 2, 2016, the Reserve Bank of India kept its key benchmark interest rate at 6.75%. The move was widely viewed as accommodative and pushed Indian bond yields to their highest levels in almost six months. The yield on sovereign bonds due in May, 2025 climbed six basis points to close at 7.85% in Mumbai, according to prices from the Reserve Bank of India’s trading platform. With an average yield of approximately 7.8%, Indian government bonds offer a spread which is almost 6% greater than similarly dated Government of Canada bonds.

    While higher yields are typically associated with riskier bonds, this is not the case for Indian bonds, as more than 90% of India’s bond issues, both sovereign and corporate debt, are rated investment-grade or higher. Although Indian bond yields are expected to fall on the back of further anticipated interest-rate cuts by the Reserve Bank of India, they will still remain high compared to low-yielding bonds issued by developed countries such as Canada and the U.S.

    Click here for more: Insight


    Canadian companies propel EDC to record year in India

    Export Development Canada (EDC) announced today an annual record in the amount of financing it provided to facilitate business between Canadian and Indian companies in 2015, nearing an estimated USD 1 billion. "2015 was EDC's most successful year to date in India, and there's a lot more room to grow," said Nathan Andrew Nelson, EDC's Chief Representative in India. "We've been working closely with Global Affairs Canada and provincial trade partners to provide Canadian companies with direct access to many of the country's top-tier companies." Overall, Canadian and Indian companies used more than an estimated CAD 2 billion of EDC services for their trade transactions in 2015.

    Click here for more: EDC in India

    Business Snippets   Programs & Events   Global Tenders

           
    A brief summary of the most
    significant economic news
    during the last month.




      A quick recap of the recent
    programs and events
    organized by
    the ICCC.
    This month's
    recap is about the
    just-concluded
    India Mission 2016.

      A list of latest
    Global Tenders
    floated by the
    Government of India.




    Click here for more: 
    Business Snippets
      Click here for more: 
    Programs and Events
      Click here for more: 
    Global Tenders


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  • 03 Feb 2016 6:30 PM | Mayank Bhatt (Administrator)

    Turkish - Japanese - Indian
    Business Networking Reception

    Indo-Canada Chamber of Commerce in conjunction with the Turkish Canadian Chamber of Commerce (TCCC), the Toronto Japanese Association of Commerce and Industry (TJACI) and the Philippine Chamber of Commerce – Toronto (PCC-T) organized a business networking program recently.

    The program was part of the ICCC’s effort to create synergies amongst the small business community operating in the Greater Toronto Area and belonging to different ethnicities. The Chamber has had a long tradition of developing and nurturing multicultural platforms for entrepreneurs to come together and exploring different global markets without having to leave Canada.

    The program held at the Turkish Canadian Chamber of Commerce’s (TCCC) premises saw participation all the four organizations. Sanjay Makkar, President, Indo Canada Chamber of Commerce; Yoshikazu Ito, Secretary General, Toronto Japanese Association of Commerce and Industry; Steve Pagao, President, Philippine Chamber of Commerce – Toronto; and Mehmet Durmus, Executive Coordinator, Turkish Canadian Chamber of Commerce were the main speakers for the evening.

     

     

     Sanjay Makkar speaking at the program

     

    Speaking on the occasion, Sanjay Makkar emphasized that it was necessary for entrepreneurs of all sizes to globalize. “Today we are in a global scenario where even small entrepreneurs need to globalize because the markets are expanding. They are no longer operating in a cocooned and sheltered environ where they can stay put within a small area; global competition is gnawing away at everyone’s base and if entrepreneurs don’t globalize, they face challenging times.”

    Analyzing the potential of business opportunities that the economies of Turkey, Japan and India possess, Mr. Makkar said, “The three countries – Turkey, Japan and India – have a combined population of over 1.45 billion, which is more than China’s population of 1.35 billion. That means the market size that our three markets present is bigger than the biggest market in the world. In addition, the combined GDP of the three countries is 7.6 trillion US dollars, almost comparable to China’s 9.24 trillion US dollars.”

    Adding another dimension to the potential, the ICCC President said that the economies of Turkey, Japan and India are at different stages of development, and offer a plethora of trading opportunities for entrepreneurs willing to explore these markets. “This is undoubtedly a great opportunity for any Canadian entrepreneur to explore any and all of these markets,” he said.

    The Indo-Canada Chamber of Commerce has played a pivotal role in forging similar alliances in the past when we were part of the Greater Toronto Business Alliance where the Chambers of Commerce of China, Italy, Portugal and India came together to create awareness amongst businesses of their ethnicity about the vast market potential that they could tap without leaving Canada.

    Several prominent and senior members of the Chamber, including past president Hari Panday participated in the program.

     


     Business leaders from different organizations at the multicultural business program


  • 28 Jan 2016 6:00 PM | Anonymous

    Creating your image for success

     Image is critical to making a name for yourself in the business world

     

     Speakers and WEP team 

    In an increasingly competitive world, it is important for an entrepreneur to create and cultivate the right image. And while image is no substitute for substance, it nevertheless goes a long way in promoting the entrepreneur’s business interests. Over a period of time, the personal and professional image of the entrepreneur blends with the brand, and both generate a buzz around the individual and the product. This helps in seamlessly enhance market presence and assists the entrepreneur to make a dent in an otherwise tough marketplace that continuously poses a challenge to everyone to be different.

    The significance of image is more acutely felt by women entrepreneurs because of the daunting challenges they face in getting brand recognition. To facilitate women entrepreneurs, the Indo Canada Chamber of Commerce (ICCC) organized a seminar on ‘Creating your Image for Success’ on 28 January 2016 at the ICCC headquarters.

     

     Lisa Toste

     Renu Mehta

    Your image is critical to making a name for yourself in the business world. But your image is far more than just what you wear and what your Facebook profile looks like! It starts at a deeper level - within your identity and mindset. In order to be the most powerful version of yourself you need to start within- and from that space create your image.

    Ms. Lisa Toste, an international motivational speaker, said that successfully creating an image that is appropriate for you as well as the profession that you are in is essential for running a successful business and it also helps you in expansion of your entrepreneurial skills. She went in depth by doing a live demonstration on a member from the crowd to explain her strategy.

    Ms. Renu Mehta, of Image Builders, spoke about different ways to be successful and the key points in your personal profile including personality traits contributing to success.

     

     Participants at the workshop


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