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  • 31 Jul 2021 1:02 PM | Anonymous


    President's Views


    Tauseef Sheikh

    ICCC's Startup Initiative

    ICCC Board's Executive Committee meeting with High Commissioner Ajay Bisaria and Consul General Apoorva Srivastava

    His Excellency Ajay Bisaria, the High Commissioner of Canada to India, recently met the Executive Committee members of the Indo-Canada Chamber of Commerce’s (ICCC) Board and discussed the roadmap of collaboration between the Indian diplomatic corps in Canada and the ICCC. One of the most significant suggestions that he made was for the ICCC to venture into supporting the startup space in Canada and India.

    The startup ecosystem has emerged as one of the key propellers of growth for both the Canadian and the Indian economies, and as the High Commissioner emphasized during our meeting with him, “Tech startups are the future of Canada – India bilateral ties.”

    The ICCC Board immediately decided to swing into action on this proposal and setup a startup committee within the board that Sanjay Kulkarni, Vice President and Director, ICCC, is heading. The ICCC will revive its collaboration with the Schulich School of Business and enter into a new collaboration with Ryerson Venture Zone.

    The ICCC has a natural role to play in the startup ecosystem because small businesses dominate the ecosystem. We will focus on startup ventures launched by immigrants from India, and, now that we have a fully functional office in India, we are confident that we will be able to help Indian startups take advantage of the new immigration policies such as the Startup Visa Program.

    The ICCC is also planning to create a group comprising successful Indo-Canadian entrepreneurs who can become mentors to startup entrepreneurs, and even consider funding some of the ventures they mentor. I invite you to participate in this initiative. If you are interested, please write to iccc@iccconline.org

    Read more: ICCC's Startup Initiative

    Advisory Board Appointments

    Meet the new members of ICCC's Advisory Board

    Amin Visram

    Amin Visram, a lawyer, is the Chief Executive Officer of the Vista Group of Companies specializes in property turn around.

    Vista has achieved staggering turn arounds and profits of 300% to 500% within short periods of time. The immediacy of results and sustained high levels of performance and profitability have earned Vista numerous accolades from its business partners, lending institutions, corporate and private investors, as well as other sources of funding.

    Arjun Jasuja

    Arjun (Andy) Jasuja is the founder and chairman of the Sigma Group of Companies, with a portfolio spanning diverse industries across technology, marketing, real estate, hospitality, and finance.

    As a serial entrepreneur, Andy has built and acquired numerous companies whereby leveraging his solid management and operational excellence to achieve long-term value and growth. As Chairman, Andy is instrumental in guiding the group’s investment strategy and identifying unique business opportunities across various industries. Andy has raised substantial capital from leading venture capital and private equity firms including Kleiner Perkins, Morgan Stanley, Cisco, and Birch Hill Equity Partners.

    Ginni Sethi

    Former Vice President of Indo-Canada Chamber of Commerce, Ginni Sethi is the Chairperson at Black Diamond Entertainments. Owner of many ventures, she is an innovative, tenacious and entrepreneurial businesswoman.

    Visionary in her approach, she took her furniture business to an international level turning it into a global multi-million-dollar company. She jointly owns many other businesses, in real estate; software development; construction; hospitality, and events and entertainment and has achieved success in all realms. In 2017 she launched her business of Party boats cruising the Toronto Harbour. Her company Pioneer Cruises owns boats which are chartered for private and public events.

    Sandeep Goel

    Sandeep Goel is the President and Chief Executive Officer of ICICI Bank Canada. Mr. Goel has a wealth of experience in the financial services industry, with a career spanning over 20 years across Asia, Europe and North America.

    Mr. Goel started his career as a debt ratings analyst at Moody’s Investor Services in New Delhi, India before moving to ICICI Bank Limited, where he led the media/telecom risk units in Mumbai, India. To support the Bank in expanding its footprint outside of India, Mr. Goel joined ICICI Bank Limited’s U.K. subsidiary to assist in building its risk management infrastructure. He then joined ICICI Bank Canada as its Chief Risk Officer for all North American operations. Mr. Goel holds a Bachelor of Engineering from Delhi University and an MBA from the Indian Institute of Management in Bangalore, India.

    Trade promotion

    The Board of Directors of the Indo-Canada Chamber of Commerce (ICCC) met with the Commercial team of the Consulate General of India  - Toronto led by Subhan Krishen, the Commercial Consul. ICCC President Tauseef Sheikh led the ICCC team which comprised Sanjay Kulkarni, Ripudaman Singh Dhillon, Don Patel, Virender Rathi, Bhavik Parikh, and Sheelu Sharma.


    (From L to R) Bhavik Parikh, Sanjay Kulkarni, Sheelu Sharma, Virender Rathi, Subhan Krishen, Tauseef Sheikh, Ripudaman S. Dhillon


    (L to R): Don Patel, Subhan Krishen and Tauseef Sheikh


    (From L to R): Virender Rathi, Subhan Krishen, Ripudaman S. Dhillon

    Advertisement


    Range Promo: Branded Merchandise

    In the News: Canada

    International Students as Labour Supply

    Changing sociodemographic characteristics 


    International students are an important future source of skilled labour in Canada, as they may be eligible for permanent residency through immigration programs after graduation. Attracting students from a wide diversity of countries, as well as to a variety of regions and programs, fosters sustainable growth in Canada's international education sector and distributes benefits across the country.

    A new study "International students as a source of labour supply: The growing number of international students and their changing sociodemographic characteristics" examines the changing sociodemographic characteristics of international students.

    Over the 2000-to-2019 period, the annual number of first-time study permit holders increased from 70,000 to 250,000. There was a trend of increased concentration in programs of study, source countries and provinces of study of international students.

    Download report: International Students

    In the News: India

    India's Draft Emigration Bill 2021


    India’s Draft Emigration Bill 2021, yet to be passed by the Indian Parliament, will replace the Emigration Act of 1983 as the overarching and only legal instrument responsible for dealing with emigration and migrant welfare. Expectedly, the draft bill has divided experts.

    According to India Migration Now, a Mumbai based migration data, research, and advocacy organization, the Draft Bill 2021 “is a progressive and welcome development with many crucial positive inclusions."

    The full or partial incorporation of most objectives of the Global Compact for Safe, Orderly, and Regular Migration (“GCM”) (of which India is a signatory) is an extremely welcome development.

    Additionally, the removal of the emigration clearance system, which constituted a major regulatory hurdle for potential emigrants, is a move in the right direction.

    The recognition of the role of intermediaries – in particular, subagents, who operate at lower levels of the supply chain – and their regulation is also a positive development.

    Most promisingly, measures addressing all aspects of the migration cycle including the reintegration of return migrants are especially notable – in particular the involvement of state governments in implementing reintegration programs.

    However, some fundamental concerns remain. A clear and well-defined framework with explicit policy goals and outcomes would be of immense benefit, which is futureproof in nature, as a guiding document for any subsequent Rules, Executive Orders and other policy initiatives going forward.

    Download: Draft Emigration Bill 2021

    Insight

    Combating Climate Change

    World's Green Energy Ambitions


    Michael Neri

    Michael Neri is a journalist and researcher based in Fort Lauderdale, Florida, USA. He analyses the key strategies being adopted by three of the biggest players in the solar energy sector - the US, China and India.



    Bhadla Solar Park, Rajasthan, the largest solar park in the world

    It may not be following a linear trajectory, nor does it seem like nearly enough, given the urgency, but there can be little doubt that the world is taking significant action to combat climate change. President Biden has a plan to shift 100% of America’s electricity generation capacity to renewables by 2035 – the world’s most ambitious green energy timeline by far — and is seeking to bankroll that effort with a $1.2 trillion “Bipartisan Infrastructure Framework” bill. The opposition GOP is still obstructing this proposal, but there is some hope that a different iteration of the bill, only marginally less ambitious, will soon pass and put America firmly on the road to a green energy future. Likewise, both China and India, the two other big contributors to CO2 emissions, are also racing ahead to attain less ambitious but equally impressive green energy targets.

    Read more: Insight

    Member's View: Anil Shah

    Huge investments in Indian
    steel sector possible

    Government must adopt proactive measures such as implementing EOL vehicle policies


    Anil Shah is a life member of the Indo-Canada Chamber of Commerce (ICCC). He is the Founder President of Ni-Met Metals Inc. He has been the chair of ICCC's Golf Committee and a recipient of the ICCC's member of the year award in 2005. He offers his perspective on the global scrap metals market and the problems facing the metals scrap and recycling business in an interview published in India’s Minerals and Metals Review

    Impact of pandemic and lockdowns on India’s metal scrap recycling business, particularly the stainless-steel scrap recycling industry.

    • Worldwide scrap demand and supply situation
    • The pricing for metal scrap as raw materials?
    • Worldwide scrap demand and supply situation
    • Scrap metal contribution to National Steel Policy of India
    • The Current Free Trade Agreements
    • India’s scrap usage compared to other emerging countries
    • Evolution of recycling investment landscape
    • Well-organized scrap collecting, shredding, and sorting ecosystem in India

    Read more: Member's View

    Past Event

    The Silver Lining In Covid


    Watch video 

    Upcoming Events

    ICCC Partners with Panorama India for India Day 2021


    The Indo-Canada Chamber of Commerce (ICCC) has partnered with Panorama India for the upcoming India Day 2021.

    Read more: Panorama India - India Day 2021

    Brampton Venture Expo


    A two-day innovation and community event on August 17th and August 18th to showcase the Brampton Innovation District and merge “content with community” to help Brampton startups scale. Through engaging and meaningful content, this event will bring together corporate executives, startup founders, early-stage investors, and local talent to further strengthen the activity happening within the Brampton Innovation District.

    List of Speakers:

    https://pheedloop.com/bramptonvs/site/home/

    Register: Brampton Venture Expo

    Consular Camp at Brampton on 7 August

    Consulate General of India, Toronto will be organizing Consular Camp in Brampton on Saturday, 7th August 2021 to address and resolve various consular related queries/issues viz. Passport, Visa, OCI, Attestation, PCC, Surrender Certificate and Life Certificate etc. as per details given below:

    Venue for Consular Camp: Jagannath Mandir Toronto 9893 Torbram Road, Brampton, ON L6S 6J1

    Date: Saturday, 7th August 2021

    Time: 10:00 AM to 01.00 PM

    Contact person: Ms Maninder Bhatia Phone: 416-801-7172

    Following the lifting of lockdown in Ontario, the Consulate General of India has decided to organize Consular Camps to resolve various queries and issues for the Indian Diaspora at more convenient location in Brampton.

    The Indian Diaspora is requested to take advantage of the Consular Camp to resolve their consular issues in person.  Please note that the Consular Camp is meant to resolve any long-pending issues and is not repeat NOT meant to provide the consular services at the venue.

    However, the applications, if found in order, will be approved for submission at the BLS Centers, respectively. Applicants are requested to bring their original passport and PR Card with them for verification.

    Given the COVID-19 situation and to contain its further spread, all applicants who will be visiting the Consular Camp at the above location are requested to follow the health norms prescribed by the Provincial Government of Ontario, including restrictions on number of people assembling at a given time, facemask covering in public places.

    Applicants are also requested to follow the directives of the Organizers at the Temple for smooth operations and movement of people. We seek your cooperation to serve you better.

    Please do not visit the Consular Camp venue if you are suffering from COVID-19 or have symptoms like fever, cough, sneezing and running nose or if you have travelled outside of Canada in the last 14 days.

    Money Talk


    Rakesh Vijay

    Are You Ready for Some Advice?

    • Are you paralyzed by information overload?
    • Are you unclear about the strategic direction of you investment portfolio?
    • Do you feel you don’t have the time to invest wisely?
    • Is investing a regular source of worry?

    Read more: Money Talk

    Indo-Canada Chamber of Commerce

    924 The East Mall Toronto ON M9B 6K1

    Tel: (416) 224-0090 Fax: (416) 916-0086

    Email: iccc@iccconline.org

    Website: www.iccconline.org

  • 15 Jul 2021 6:33 PM | Anonymous

    ICCC-Raymond James Ltd webinar on financial and investment planning


  • 08 Jul 2021 9:00 AM | Anonymous


    Mary Simon

    Inuk leader Mary Simmon to be Canada's 30th Governor General 

    Indo-Canada Chamber of Commerce (ICCC) welcomes the appointment of Mary Simon as the 30th Governor General of Canada.

    "Mary Simon's appointment represents Canada's continued commitment to diversity and inclusion, and giving representation to the indigenous communities," Tauseef Sheikh, President, ICCC, said. "In light of the recent events, this appointment assumes greater significance," he added.

    Ms. Simon is a former broadcaster, civil servant and diplomat. She was born in Kangiqsualujjuaq, Nunavik, Quebec in 1947. She briefly worked as a producer and announcer for CBC North in the 1970s.

    She later entered public service, serving on the board of the Northern Quebec Inuit Association and playing a key role in the Charlottetown Accord negotiations. Simon served as Canada’s first ambassador for Circumpolar Affairs from 1994 to 2004, as well as a lead negotiator for the creation of the Arctic Council. She also served as the Canadian Ambassador to Denmark from 1999 to 2002.

    ICCC's India Office

       

    First India Members

    New Managing Committee

    The India Chapter of the Indo-Canada Chamber of Commerce (ICCC) has begun operations. In a statement, Tauseef Sheikh, President, ICCC, announced that the launch of the India Chapter represents a crowning glory in the glorious history of our Chamber."

    The India Chapter was launched in 2018  and Tauseef Sheikh had pivoted the launch, he is was active in the present effort to relaunch the Chapter. The response to the membership drive has been extremely good with steady inquiries.

    Vikas Sharma, Adviser to Government of India's Ministry of Personnel, is the head of the India Chapter. The Chapter has already enrolled members and will be conducting an extensive outreach in India to augment membership and make it regionally representative.

    Ripudaman Singh Dhillon, Vice President and Director, Sponsorship and Member Engagement, said, "This is a momentous occasion for Indo-Canada Chamber of Commerce. We now have members in India. Our presence will help us acquire a truly bilateral stature."

    Call for Nominations: ICCC Annual Awards 2021


    Nominations are invited for Indo-Canada Chamber of Commerce's (ICCC) Annual Awards.

    Since 1993, the ICCC has recognized Indo-Canadians for their achievements in 11 different categories at its Annual Awards and Gala Night.

    ICCC’s Advisory Board is entrusted with the responsibility of choosing the award recipients in nine open categories. Two additional awards are presented – the President’s Award to unsung heroes, and the Members’ Award, for voluntarism and community services.

    Click on the link below to download the nomination form in each category.

    Woman Entrepreneur of the Year

    Male Entrepreneur of the Year

    Woman Professional of the Year

    Male Professional of the Year

    Young Achiever of the Year

    Technology Achievement of the Year

    Corporate Executive of the Year

    Humanitarian of the Year

    Lifetime / Outstanding Achievement

    Send completed nomination forms by email to iccc@iccconline.org

    Deadline: 5:00 pm Friday 16 July 2021

    Upcoming Events

    The Silver Lining In Covid


    4:30 PM Thursday 15 July 2021

    Register on Zoom / Facebook

    ICCC Partners with Panorama India for India Day 2021

       

    The Indo-Canada Chamber of Commerce (ICCC) has partnered with Panorama India for the upcoming India Day 2021.


    Read more: Panorama India - India Day 2021


    Telus Business: Offers & Announcements for
    Small Business Owners

    Stand with Owners

    Campaign to support Canadian small businesses

    Telus Business has launched #StandWithOwners campaign. It has have two initiatives in market:

    Small business owners can apply to receive $10,000 and personalized local advertising.

    All Canadians are encouraged to support their favourite small business using #StandWithOwners for a chance to win a $500 gift card for that business.

    Both these initiatives are running until October.

    Go to the website: Stand with Owners

    Rapid Activation Program


    Wondering how to source and procure the right technology for your business’ digital transformation? Then join the Toronto Region Board of Trade on July 14 for the next Recovery Activation Program webcast!

    Register

    City of Mississauga Survey Covid-19's
    impact on small business

    The City of Mississauga’s Economic Development Office (EDO) is conducting a research study to understand how the COVID-19 pandemic has impacted small businesses in several industries in Mississauga and learn how they can support you with your plans for building a resilient economic recovery.

    EDO would like to invite you to their upcoming one-hour roundtable meeting for your industry next week so that they can hear directly from you and other business owners in your industry about the challenges you experienced since the onset of the pandemic and your future steps for an economic recovery.

    The information shared in this meeting will be confidential for research purposes only and will be used by EDO to identify how they can better support businesses in your industry, and what other services can be provided now and into the future.

    To register to attend the meeting for your industry, please confirm your attendance with EDO by clicking the link below that is associated with your industry by noon Friday, July 9th.

    Download document: Survey

  • 05 Jun 2021 3:50 PM | Anonymous

    ICCC Weekly Newsletter - 5 June 2021

    Announcement

    Tauseef Sheikh is the 33rd President of ICCC


    Tauseef Sheikh

    The elected members of the Board of Directors of the Indo-Canada Chamber of Commerce unanimously nominated Tauseef Sheikh as the 33rd President of the Chamber at a meeting held Friday 4 June 2021.

    Setting priorities for his tenure, Tauseef said, "Membership and Sponsorship are the two main focus areas for the Board. We have to understand that our Chamber is a community as well as a business institution that represents the aspirations and hope of the Indo-Canadian business community. My endeavour will be to make our membership more broad-based and work with new and existing sponsors to help them derive value for their sponsorship."

    One of the senior-most Board members, Tauseef has been associated with the Chamber for more than a decade, and was instrumental in launching the India Chapter of the Chamber in 2018. He has been on the ICCC Board for the last four years, and has held and handled varied positions and portfolios including Vice President and Corporate Secretary; Vice President, Membership Engagement; Director, Sponsorship, New Immigrants & Mentorship.

    He is a seasoned, top-performing banking professional with experience in Global Banking, Retail Banking and Wealth Management. Tauseef's journey in Canada began following an international secondment when he was sent to HSBC Bank in Canada from HSBC India as a part of the start-up team of the NRI (Non-Resident Indian) office in Canada. His association with the ICCC began immediately upon his arrival in Canada.

    He was responsible for building a North American platform for providing onshore and offshore banking products with particular focus on cross- border Private Banking services. subsequently, in 2018, he was again sent to India on an international secondment to set up crossborder business for global Indians.

    He is also the Ambassador for Diversity and Inclusion with HSBC in Canada. He believes in giving back to the community.

    Vikas Sharma is ICCC's Vice President & Corporate Secretary


    Vikas Sharma

    Following Tauseef Sheikh's elevation to the President's position, the elected members of the Board appointed Vikas Sharma to the post of Vice President and Corporate Secretary. Vikas has been on the ICCC Board since 2020.

    Since 2006, Vikas has been the President and Owner of a post-industrial plastics recycling company in Toronto, Canada. The firm specializes in trading a wide variety of secondary fiber, post-industrial plastics and raw material to build the efficiency and profitability of its customers recycling operations.

    Vikas has significant experience in international trade and over the last two decades, Vikas has exported to China, India, Vietnam, Mexico and the USA. He specialises in India and North America trade.

    Vikas is the President and Founder of the Care4Cause Foundation, which offers dignity, compassion and respect to individuals suffering poverty and unfortunate circumstances. Vikas joined the Tiger Jeet Singh Foundation in 2019 as Director and worked on expanding its Christmas Miracle on Main Street toy drive charity event to Brampton.

    In the News - Canada

    G7 deal on minimum corporate tax

    Make tech giants pay fair share


    Britain's treasury chief said the world's richest countries have signed a landmark global agreement to confront tax avoidance and make sure giant tech companies pay their fair share.

    Rishi Sunak said finance ministers from the Group of Seven (G7) leading industrialized nations signed the agreement on the second and final day of meetings in London.

    They said they have agreed to commit to a global minimum corporate tax of at least 15 per cent on a country by country basis.

    "I'm delighted to say that G-7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially to make sure that it's fair so that the right companies pay the right tax in the right places," Sunak said.

    Read more: G7 Tax

    EVERY CHILD MATTERS


    The horrific discovery of the remains of 215 children, some as young as three years old, at a former residential school site in BC has shocked the world, and once again brought Canada upfront and close to its colonial and racist past. In 21st century it seems inconceivable that an institution that was meant to eradicate a culture could survive for over a century – from the late 1800s to 1996.

    The history of the Residential Schools is a gory and macabre chapter in Canada’s history. Approximately 150,000 First Nations, Métis, and Inuit children were separated from their families and forced to attend boarding schools, where at least one in every 50 of these students died, according to the Truth and Reconciliation Commission. The aim of this network of schools was to eliminate Indigenous language and culture and replace them with English and Christian beliefs respectively.

    Although evidence of forced assimilation was found as early as the 17th century -- well before Confederation -- the practice became Canadian public policy by the late 1800s. In these residential schools, children were forbidden from practicing their culture, and were often subjected to physical and sexual abuse.

    The issue is not just limited to missing children. Missing indigenous women is a growing concern, as well. The economic backwardness of the indigenous communities is a matter of deep concern. They are deprived of safe drinking water, face food insecurity, and lack access to basic healthcare, especially mental health, which is the main cause of high suicide rate among Canada’s indigenous people.

    As immigrants, Indo-Canadians should educate themselves of the traumatic history and the contemporary condition of the indigenous people of Canada. They constitute approximately 5% of Canada’s population, and their numbers are rising rapidly.

    Read more:

    The Indian Act (link)

    Indian Residential School System (link)

    News Backgrounder (link)

    High cost of food (link)

    2020 Annual Report to Parliament (link)

    Missing indigenous women (link)

    An Appeal for India

    As a Canadian organization, the Indo-Canada Chamber of Commerce adheres both in letter and in spirit to Canadian laws and values, and support and respect cultural, ethnic, and religious diversity of the Canadian society. In the spirit of non-partisanship and in accordance to Canadian values of multiculturalism, the ICCC provides a list of organizations that are at present working on raising resources for India to fight the resurgence of Covid-19.

    The ICCC encourages its Members and stakeholders to contribute directly to any of these organisations. 

    Read more: Appeal for India: Updated List of Organizations

    In the News: India

    Seven Years of NDA Government in India


    List of achievements

    1: Ease of doing business

    2: Ease of living

    3. Eliminating corruption

    4. Empowering youth

    5. Health for all

    6. Infrastructure for growth

    7. Mobility for middleclass

    8. Nari Shakti for New India

    9. Prosperous farmers for Prosperous India

    10. Putting India first

    11. Renewed focus on Northeast

    12. Social Empowerment

    13. Taking development to the poorest

    14. Transformative economic growth

    15. India fights Covid-19

    Read more: 7 years

    Past Programs

    Oxygen for India - 16 May


    Watch the recording here

    Oxygen for India - 30 May


    Watch the recording here

    Advertisement


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  • 26 May 2021 11:06 AM | Anonymous


    ICCC Weekly Newsletter – 25 May 2021

    Young Adults Demand: Climate Action, Now!

    German court declares country's 2019 climate legislation puts more burden on future generations and not enough on the present. Effective climate protection has to be implemented now and not in 10 years' time, when it'll be too late.


    Greta Thunberg

    Ever since Greta Thunberg, the young Swedish climate activist, stood outside the Swedish Parliament in 2018, with a placard that said, ‘School strike for climate change’, the world has begun to realize that the impact of climate change will be disproportionately more on future generations. There is a grudging acknowledgment that the present generation has to sacrifice more to ensure that the future generation is not unduly burdened with the problem.

    On April 29, the Constitutional Court in Germany sided with nine young Germans against the German federal government in a case pertaining to climate change. The court agreed the country’s landmark climate legislation, passed in 2019, put too much of a burden on future generations and didn't take enough responsibility in the present.

    “The provisions irreversibly offload major emission reduction burdens onto periods after 2030,” the court ruled, ordering the government to change the legislation.

    Many courts have turned out to be receptive to that argument. The first breakthrough came in the Netherlands in 2019, when the Supreme Court ordered the government to cut the nation's greenhouse gas emissions by 25 per cent from 1990 levels by the end of 2020.


    Young Canadians for climate action

    The attorney representing the young Germans exulted that the verdict recognizes for the first time that freedom must be guaranteed not only here and now, but also intertemporally and globally — that is, across generations and across state borders. Germany's Minister of Economy and Energy Peter Altmaier agreed, calling it “epochal for climate protection and the rights of young people.”

    According to a CBC report, the German court’s verdict is a big morale booster to 22 young Canadians who are pursuing a similar case against the Canadian government. The lawsuit is sponsored by the David Suzuki Foundation and the Oregon-based Our Children’s Trust. The suit is intended to force the federal government to adopt more stringent emissions targets.

    Globally, young people are awakening to their rights and their future, and are not interested in being obedient to their parents' generation. This rebellion is slowly building and transcending to other issues beside climate change.

    Read more:

    Young climate activists beat Germany's government in court (link)

    Germany must tighten climate law to protect young people's future (link)

    15 Canadian kids sue their government over climate change (link)

    Greta Thunberg profile (link)

    Disha Ravi profile (link)

    Insight

    IMF's proposal to end the Covid-19 pandemic

    By Kristalina Georgieva, Gita Gopinath, & Ruchir Agarwal


    Many countries have stepped up in the global fight against the pandemic, as have institutions such as the World Health Organization, the World Bank, Gavi (the Global Alliance for Vaccines and Immunization), the African Union, and others.

    Yet, more than a year into the COVID-19 crisis, new cases worldwide are higher than ever. Urgent action is needed to arrest the rising human toll and economic strain.

    As the IMF has warned, economic recoveries are diverging dangerously. The disparities will widen further between wealthy countries that have widespread access to vaccines, diagnostics, and therapeutics, and poorer countries still struggling to inoculate frontline healthcare workers.

    As of the end of April 2021, less than two percent of Africa’s population had been vaccinated. By contrast, over 40 percent of the population in the United States and over 20 percent in Europe had received at least one dose of the vaccine.

    It is well understood that there can be no lasting end to the economic crisis without an end to the health crisis. Pandemic policy is thus economic policy. It is critical for global macroeconomic and financial stability, which makes it of fundamental importance to the IMF and other economic institutions. Ending the pandemic is a solvable problem but requires further coordinated global action.

    The latest research by IMF staff analyzes multiple dimensions of the fight against the pandemic and proposes realistic targets to bring the pandemic substantially under control everywhere—and the means to achieve them. Building on the work of other agencies, the proposal aims to:

    • vaccinate at least 40 percent of the population in all countries by the end of 2021 and at least 60 percent by the first half of 2022,
    • track and insure against downside risks, and
    • ensure widespread testing and tracing, maintain adequate stocks of therapeutics, and enforce public health measures in places where vaccine coverage is low.

    Importantly, the strategy requires not just commitments but upfront financing, upfront vaccine donations, and “at-risk” investment for the world to insure against downside scenarios.

    To read more, click here

    An Appeal for India


    As a Canadian organization, the Indo-Canada Chamber of Commerce adheres both in letter and in spirit to Canadian laws and values, and support and respect cultural, ethnic, and religious diversity of the Canadian society. In the spirit of non-partisanship and in accordance to Canadian values of multiculturalism, the ICCC provides a list of organizations that are at present working on raising resources for India to fight the resurgence of Covid-19.

    The ICCC encourages its Members and stakeholders to contribute directly to any of these organisations. 

    Read more: Appeal for India: Updated List of Organizations

    Past Program

    Oxygen for India


    Watch the recording here

    Message from

    Hon. Jason Kenney, Premier of Alberta


    To watch, click here

    Advertisement


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    CONNEXT 2021


    ICCC's Virtual Trade Mission to India has been rescheduled to the third quarter of 2021. New dates will be announced later.

    Download presentation: CONNEXT 2021

    Click here for details: CONNEXT 2021

    Click here to register: Delegate Registration

    In the News: India

    Digital payments rising rapidly

    Digital payments in India have swelled to 25.5 billion real-time online transactions in 2020, and are expected to account for 71.7% share of all the payments by 2025, according to a ACI Worldwide report released recently.

    ACI Worldwide that provides payment solutions to corporations across the globe.

    According to the report, by 2025, cash and cheques, the other payment alternatives, will occupy only 28.3% share. Also, of the overall payments in 2020, instant payments accounted for a 15.6% share, 22.9% was other electronic payments and paper-based payments commanded a 61.4% share.

    Read more, click here

    TELUS Business Exclusive Offer


    For details, click here


  • 17 May 2021 9:00 PM | Anonymous


    ICCC Weekly Newsletter – 17 May 2021

    The power of giving


    VIJAY THOMAS

    President, ICCC

    On 16 May our Chamber organized Oxygen for India virtual coast-to-coast marathon fundraiser. The program will continue for the next three Sundays – 23 May, 30 May and 6 June.

    I may sound a bit immodest, but I am proud to report that the program was an unprecedented success. It received tremendous support and participation from political decisionmakers, diplomatic corps, community leaders and perhaps more importantly individuals.

    The twin objectives of Oxygen for India were not just to raise resources but also to raise awareness. And it is heartening that the program succeeded in achieving both these objectives in full measure.

    For me, personally, it is immensely gratifying that we have been able to enthuse individuals to come forward and contribute to the cause. It is the participation of individuals who dip into their purse and contribute $25 or $50 or $100 that really makes an effort such as this one genuinely people focused and oriented.

    It takes a lot for an individual to give to charity and the fact that our campaign managed to touch the hearts of so many people is a cause for celebration.


    We have done our part - have you?

    Campaign

    Our purpose is to help India. As I said in my interview to Jessica Cheung of CBC on Sunday, “This is something that the best of nations, if they got hit with what hit India, they would not be able to do it on their own as well. They would need help as well.”

    I am confident that in the next three weeks we will reach our target of raising two million dollars for Oxygen for India project; and in the process, we would have created awareness on an unprecedented scale.

    A project of this magnitude is only possible when a team coalesces together perfectly to achieve common objectives. I want to place on record the contribution of our team that worked selflessly and strenuously to make the program a success – Ramesh Chotai of Vraj Community Services and our Chamber’s past president and a former Advisory Board member; Dave Kapil of New Brampton, and a community leader who has dedicated his life to philanthropy and community service; Bidhu Jha, former MLA of Manitoba; Aruna Anand, a devoted and well-connected community leader; Bhavik Parikh, my colleague on the board; and Ajay Tandon, our Chamber’s past VP and Director.

    I invite you to participate in our forthcoming programs that we will be organizing on the next three Sundays. Participate and contribute. This is for India, and as Indo-Canadians, it is our duty to come forward and do our bit.

    Report on 16 May 2021 program


    TORONTO: The Indo-Canada Chamber of Commerce (ICCC) launched its 'Oxygen for India' marathon fundraiser to collect $2 million to send oxygen equipment to India. Almost $500,000 was raised during the very first session of the marathon fundraiser on Sunday. It will be held for three hours every Sunday for four weeks.

    ICCC president Vijay Thomas said their initiative aims at garnering donations not only from the 1.6 million Indo-Canadian community, but also businesses and cities across Canada. “The money will be used to send oxygen concentrators and generators and we will find new pathways to send oxygen to India. We want to ensure that oxygen reaches tier 2 and 3 cities and towns before they get severely hit by the virus,” Thomas said.

    Top business owners and medical professionals took part in the marathon fundraiser. Among the political decisionmakers who participated in the program included Hon. Anita Anand, Canada’s Minister of Public Services and Procurement; Hon. Doug Ford, Premier of Ontario; Hon. Kelvin Goertzen, Deputy Premier of Manitoba; David Chartrand, President of the Manitoba Metis Federation; Mayors Bonnie Crombie (Mississauga); Patrick Brown (Brampton); and Frank Scarpitti (Markham). They individually appealed to their constituents to contribute to the Oxygen for India campaign.

    Ontario Premier Doug Ford announced that 2,000 additional ventilators are being sent to India, in addition to 3,000 already delivered. “The whole plane-load of Air Canada is filled from front to back and arriving (in India) by Tuesday with all sorts of supplies. The people of India have been there for us and we will be there for them,” the Ontario Premier said, referring to India’s delivery of one million vaccine doses to Canada earlier this year.

    The biggest contribution of $50,000 came from Canada’s native or indigenous Metis people. “We have similarities with Indians even though we are from different parts of the world. India will be there for us when we need, and we should be there for them now. We will donate $50,000 to the ICCC and do more if needed,” announced David Chartrand, President of the Manitoba Metis Federation.

    Virtual coast-to-coast marathon fundraiser


    Watch the recording here

    And join us on 23 May, 30 May & 6 June

    Organizing Core Committee


    Vijay Thomas


    Ramesh Chotai


    Dave Kapil


    Aruna Anand


    Bidhu Jha


    Bhavik Parikh

    In the News: Oxygen for India coverage

    CBC: Toronto non-profit organization raises over $400K to send oxygen to India as it fights COVID-19. Indo-Canada Chamber of Commerce aims to raise $2M through virtual fundraisers on Sundays (link)

    Weekly Voice (link)

    The New Indian Express (link)

    CanIndia (link)

    Financial Express (link)

    Daily Hamdard (link)

    Navhind Times (link)

    Hindustan Times (link)

    FR24 (link)

    The Tribune (link)

    Outlook (link)

    Prime Asia TV - News Snippet (link)

    Prime Asia TV - Exclusive Interviews (link)

    Omni TV (link)

    Advertisement


    Range Promo: Branded Merchandise

    An Appeal for India


    As a Canadian organization, the Indo-Canada Chamber of Commerce adheres both in letter and in spirit to Canadian laws and values, and support and respect cultural, ethnic, and religious diversity of the Canadian society. In the spirit of non-partisanship and in accordance to Canadian values of multiculturalism, the ICCC provides a list of organizations that are at present working on raising resources for India to fight the resurgence of Covid-19.

    The ICCC encourages its Members and stakeholders to contribute directly to any of these organisations. 

    Read more: Appeal for India:

    Updated List of Organizations

    CONNEXT 2021


    ICCC's Virtual Trade Mission to India has been rescheduled to the third quarter of 2021. New dates will be announced later.

    Download presentation: CONNEXT 2021

    Click here for details: CONNEXT 2021

    Click here to register: Delegate Registration

    TELUS Business Exclusive Offer


    For details, click here

    Youth Membership

    At a Meeting held recently, the Board of Directors decided that from January 2021, Youth Membership would be restricted to University and College students only. All Youth Members will have to provide proof of being a valid student in a Canadian educational institution. 

  • 16 May 2021 11:26 AM | Anonymous



    TORONTO: The Indo-Canada Chamber of Commerce (ICCC) launched its 'Oxygen for India' marathon fundraiser to collect $2 million to send oxygen equipment to India. Almost $500,000 was raised during the very first session of the marathon fundraiser on Sunday. It will be held for three hours every Sunday for four weeks.

    ICCC president Vijay Thomas said their initiative aims at garnering donations not only from the 1.6 million Indo-Canadian community, but also businesses and cities across Canada. “The money will be used to send oxygen concentrators and generators and we will find new pathways to send oxygen to India. We want to ensure that oxygen reaches tier 2 and 3 cities and towns before they get severely hit by the virus,” Thomas said.


    Top business owners and medical professionals took part in the marathon fundraiser. Among the political decisionmakers who participated in the program included Hon. Anita Anand, Canada’s Minister of Public Services and Procurement; Hon. Doug Ford, Premier of Ontario; Hon. Kelvin Goertzen, Deputy Premier of Manitoba; David Chartrand, President of the Manitoba Metis Federation; Mayors Bonnie Crombie (Mississauga); Patrick Brown (Brampton); and Frank Scarpitti (Markham). They individually appealed to their constituents to contribute to the Oxygen for India campaign.

    Ontario Premier Doug Ford announced that 2,000 additional ventilators are being sent to India, in addition to 3,000 already delivered. “The whole plane-load of Air Canada is filled from front to back and arriving (in India) by Tuesday with all sorts of supplies. The people of India have been there for us and we will be there for them,” the Ontario Premier said, referring to India’s delivery of one million vaccine doses to Canada earlier this year.

    The biggest contribution of $50,000 came from Canada’s native or indigenous Metis people. “We have similarities with Indians even though we are from different parts of the world. India will be there for us when we need, and we should be there for them now. We will donate $50,000 to the ICCC and do more if needed,” announced David Chartrand, President of the Manitoba Metis Federation.

  • 09 May 2021 12:36 PM | Anonymous

    ICCC Weekly Newsletter 09 May 2021

    The magic of Indian elections


    Voters displaying their voter identity cards while queuing up to cast their ballot

    Unlike the elections held in many totalitarian regimes, where the results are known prior to being declared, the Indian election are democratic, and have unerringly reflected the people’s choice, whether it was the massive mandate that Narendra Modi got in 2019 or Mamata Banerjee in 2021.

    Equally importantly, the people’s mandate has always been respected by political parties, with transition of power guaranteed based on election results. It is a different matter that in rare cases, post-election horse-trading of elected representatives subverts people’s mandate.

    But beyond the obvious politics of elections, there is an incomparable logistical story behind the elections. Indian elections are a gargantuan exercise. The 17th Lok Sabha or lower house of India’s bicameral parliament was elected based on the results of the world’s biggest election conducted in the summer of 2019. This was the largest democratic and the most expensive election in the world.

    With over 900 million eligible voters from over a billion population, spread over seven phases, the 2019 elections saw more than 8,000 candidates and 645 political parties in fray for 543 Parliamentary seats.

    The Election Commission of India, the non-partisan agency that organises elections in India, puts in a lot of effort to make this democratic exercise as accessible as possible. India’s budget has allocated 2.62 billion rupees to the Election Commission in 2019, a new high.


    Election Commission officials reaching remote corners of India to ensure all eligible voters can cast their ballot

    The legion of officials that is deployed by the Election Commission ensures that everyone, even in the most remote locations, is near a polling booth. In India, there is a law that election voting machines must be placed within 2 kilometers of every voter.

    The Indian Election Commission has faced large costs organizing an election with polling stations running from 15,000 feet above sea level in the Himalayas and one for a sole hermit deep in the jungles of Western India.

    The Election Commission uses some of the funds allocated for hiring elephants to carry electronic voting machines to relatively inaccessible regions, and boats to ferry men and materials across the mighty Brahmaputra river in the northeast.

    These costs don't include the amount that political parties spend on canvassing for votes. According to the New Delhi-based Centre for Media Studies, the 2019 general elections cost India $7billion.

    Read more:

    Indian Lok Sabha Elections Statistics & Facts (link)

    How India runs the world's biggest elections (link)

    Elections in India (link)


    WORK WITH INDIA
    TO CONQUER THE
    2ND WAVE OF COVID-19


    The Indo-Canada Chamber of Commerce (ICCC) is organizing ‘OXYGEN FOR INDIA’, a marathon fundraiser to help India fight the deadly second Covid-19 wave. We believe that alone not much can be achieved, but ‘TOGETHER’, we can do so much more, hence we are bringing together more than 82 other Indo-Canadian organizations to aid us in this humanitarian effort.

    From coast to coast, we are armed with the purpose of raising awareness and resources for oxygen to India. Our efforts are aimed at providing an opportunity to the 1.6 million-strong Indo-Canadian community and the 36 million Canadians to participate in this charitable program.

    Among the community organizations that will be participating include Vraj Community Services, Panorama India, New Brampton, Meiti Group (Manitoba). Many more community organizations will join the program next week.

    Prominent political decisionmakers, member of the diplomatic corps, public figures, influencers, among others will participate in the program. Both the Canadian and Indian media will extensively cover the program.

    Don't miss this once-in-a-lifetime opportunity to participate in a program that will go down in history as epochal and path-breaking

    Organizing Core Committee

    • Vijay Thomas
    • Ramesh Chotai
    • Dave Kapil

    An Appeal for India


    Vijay Thomas

    President, ICCC

    As a Canadian organization, the Indo-Canada Chamber of Commerce adheres both in letter and in spirit to Canadian laws and values, and support and respect cultural, ethnic, and religious diversity of the Canadian society. In the spirit of non-partisanship and in accordance to Canadian values of multiculturalism, the ICCC provides a list of organizations that are at present working on raising resources for India to fight the resurgence of Covid-19.

    The ICCC encourages its Members and stakeholders to contribute directly to any of these organisations. 

    Read more: Appeal for India: Updated List of Organizations (link)

    CONNEXT 2021

    ICCC's Virtual Trade Mission to India has been rescheduled to the third quarter of 2021. New dates will be announced later.


    Download presentation: CONNEXT 2021

    Click here for details: CONNEXT 2021

    Click here to register: Delegate Registration

    Advertisement


    Range Promo: Working for your image

    In the News: Canada

    Trends in businesses’ needs for personal protective equipment

    The onset of the COVID-19 pandemic created an unprecedented demand for personal protective equipment (PPE) across the globe which has led to uncertainty about supplies and inventories of PPE. Various public health guidelines which restricted operations of businesses were implemented across the country to curb the spread of COVID-19.


    In February 2021, to allow for the reopening of the economy, some of the implemented restrictions were alleviated across the country in varying degrees. The Personal Protective Equipment Survey (PPES) provides a portrait of demand and supply of PPE in Canada allowing decision makers to respond to the evolving needs of Canadian businesses. This article examines the evolution of private sector businesses’ demand and supply of PPE using data from the February 2021 PPES.

    Just under two-thirds (66.1%) of businesses reported that they needed, or expected to need, PPE in order to operate in accordance with COVID-19 related public health guidelines. This is roughly unchanged from December 2020 (66.9%).

    Different sectors of the economy continue to have varying demands for PPE. Businesses in the services-producing sector were more likely to demand PPE with more than three-quarters of businesses in educational services (92.1%), health care and social assistance (84.3%), retail trade (84.0%), and accommodation and food services (79.5%) demanding PPE compared to less than half of businesses in professional, scientific and technical services (41.9%) and agriculture, forestry, fishing and hunting (27.7%).

    Read more: Adapting to a new reality (link)

    In the News: India

    Indian Ayurveda Industry


    The healthcare market in India is evolving at a rapid pace. It is one of the fastest growing industries with an estimated compound annual growth rate (CAGR) of 23% from 2015 to 2020 and is expected to be a $280 billion market by 2021. Rising income levels, the growing geriatric population, greater penetration of healthcare in rural settings, and increasing health awareness with an emphasis on “preventative healthcare,” is expected to enhance the demand for healthcare services.

    India’s National Health Policy aims at achieving Universal Health Coverage and delivering quality healthcare to all at an affordable cost. The policy aims at providing a comprehensive primary health package which includes major communicable, non-communicable and chronic diseases, geriatrics, palliative and rehabilitative care.

    For a vast country like India, to achieve this goal with just the modern medicine system in place is a herculean task, as even modern therapies have their own drawbacks such as burgeoning costs, quality of life issues, and the inability to prevent and cure many diseases.

    However, Ayurveda can change this outlook of healthcare delivery by getting integrated into mainstream healthcare. Promoting Ayurveda as a mainstream therapy approach can be used to bridge the burgeoning gap between demand and supply by primarily focusing on the secondary and tertiary prevention of diseases. In addition, the substantial opportunity in promotive health and restoration of functional health is best addressed by Ayurveda.

    India’s ambition to provide universal access and quality healthcare at an affordable cost mandates a paradigm shift in adoption of Ayurveda into the mainstream healthcare system.

    Ayurveda’s root cause management approach goes beyond just being a curative system of medicine to being a preventive and promotive healthcare system as well. The industry has gained recognition both in India and developed countries as an alternative system of medicine.

    Despite having a strong advantage over modern therapies, the Ayurveda industry’s growth trajectory remains subdued. There is a burning need to prioritize focus on products and services that can jump-start modest growth and triple the industry’s market potential.

    This Vision Roadmap study (undertaken by Frost & Sullivan and CII) to identify mega pivots and growth levers that will unlock value in key industry segments and lead to decisive action with solid implementation. It is an outcome of multiple rounds of discussions with key stakeholders in the Indian Ayurveda Industry.

    Read more: Vision 2022 Roadmap for the Indian Ayurveda (link)

    Past Programs and Events

    India & Covid-19's Second Wave -

    A Panel Discussion


    On 29 April 2021, as part of its continuing Thursday Talks Webinar Series, the ICCC organized a panel discussion on India and Covid-19's Second Wave. Canada's Minister Anita Anand gave introductory remarks, emphasizing the excellent bilateral ties between the two countries. Apoorva Srivastava, Consul General of India to Canada, set the tone of the discussion in her keynote address by emphasizing that India is capable of procuring its medical emergency needs commercially. The panelists included Ramesh Chotai of Vraj Community Services, Kanchan Kumar of TiE-Toronto, Madhukar Pai and Ananya Banerjee of McGill University, and Sharonya Sekhar of Red Cross Canada. The session gave an opportunity have a fact-based debate to discuss the impact of the resurgence of the pandemic and what needs to be done. 

    Watch the recording of the Webinar: India & Covid-19's second wave (link)

    Youth Membership

    At a Meeting held recently, the Board of Directors decided that from January 2021, Youth Membership would be restricted to University and College students only. All Youth Members will have to provide proof of being a valid student in a Canadian educational institution.  

    Indo-Canada Chamber of Commerce

    924 The East Mall Toronto ON M9B 6K1

    Tel: (416) 224-0090 Fax: (416) 916-0086

    Email: iccc@iccconline.org

    Website: www.iccconline.org 


  • 01 May 2021 6:30 PM | Anonymous


    ICCC Weekly Newsletter

    01 May 2021

    For whom the bells tolls

    “Any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bells tolls; it tolls for thee.”

    John Donne (1572 – 1631).

    The statistics are staggering. Apparently, by some calculations, four Indians are dying every minute, as the macabre death dance caused by the resurgence of the second wave of Covid-19 devastates India.

    According to Johns Hopkins Coronavirus Resource Centre, the leading online statistical resource for tracking the global spread of Covid-19, despite the resurgence of the virus, India’s death rate as compared to its population, is not as high as some of the more developed countries. The table below list the 10 countries with the highest number of deaths.

    Of course, the situation is extremely fluid in India, and the caseload is rising every day to cross half-a-million daily in the coming days, and the number of deaths in India will rise exponentially. According to many experts, May and June will see the situation worsening.


    According to a World Health Organization report Global Spending on Health: Weathering the storm, published in December 2020, before the COVID-19 pandemic, global spending on health was continuing to rise, though at a slower rate in recent years.

    In 2018, global spending on health reached US$ 8.3 trillion, or 10% of global GDP, and it was the first time in the past five years that health spending grew slower than GDP. Pertinently, Government health spending per capita grew over the 2000–2018 period, but at a slower rate after the economic crises of 2008–2009.

    The share of out-of-pocket spending in total health spending remained above 40% in low and lower middle-income countries. Health spending from external aid reached its peak in 2014 and has since fallen. The share of external aid absorbed by lower middle-income countries has been increasing and in recent years surpassed that of low-income countries. The share of health spending devoted to primary health care varied widely across countries.

    Read more:

    WHO report (link)

    Current Health Expenditure (link)

    Johns Hopkins Coronavirus Resource Centre (link)

    Indo-Canadian Task Force

    Combatting Covid-19's 2nd Wave in India


    Taskforce's first Zoom meeting on 1 May

    India is currently facing a massive surge in cases of COVID-19. The situation is critical. The sharp increase in cases is putting immense pressure on India’s healthcare system. The Indo-Canada Chamber of Commerce Taskforce on India’s Covid-19 crisis comprises entrepreneurs, academics, community leaders, and supported by the Canadian and India diplomatic corps. The taskforce has already engaged political decisionmakers both in Canada and India.

    Objective:

    The taskforce will focus on the following:

    • Reach out to 1.6 million Indo-Canadians and seek $100 contribution from each Indo-Canadian (target: $160 million)
    • Raising resources to buy medical equipment
    • Procuring equipment from global markets
    • Sending equipment to India where it is most needed
    • Coordinate with the Indian and Canadian governments on the formulating an urgent action plan to overcome the crisis

    If you are interested in contributing resources to the taskforce, please contact iccc@iccc.org

    An Appeal for India


    Vijay Thomas

    HELP INDIA CONQUER THE SECOND WAVE OF COVID-19

    As a Canadian organization, the Indo-Canada Chamber of Commerce adheres both in letter and in spirit to Canadian laws and values, and support and respect cultural, ethnic, and religious diversity of the Canadian society. In the spirit of non-partisanship and in accordance to Canadian values of multiculturalism, the ICCC provides a list of organizations that are at present working on raising resources for India to fight the resurgence of Covid-19.

    The ICCC encourages its Members and stakeholders to contribute directly to any of these organisations. 

    Read more: Appeal for India: Updated List of Organizations

    CONNEXT 2021

    ICCC's Virtual Trade Mission to India has been rescheduled to the third quarter of 2021. New dates will be announced later.


    Download presentation: CONNEXT 2021

    Click here for details: CONNEXT 2021

    Click here to register: Delegate Registration

    Past Programs and Events

    India & Covid-19's Second Wave - A Panel Discussion


    On 29 April 2021, as part of its continuing Thursday Talks Webinar Series, the ICCC organized a panel discussion on India and Covid-19's Second Wave. Canada's Minister Anita Anand gave introductory remarks, emphasizing the excellent bilateral ties between the two countries. Apoorva Srivastava, Consul General of India to Canada, set the tone of the discussion in her keynote address by emphasizing that India is capable of procuring its medical emergency needs commercially. The panelists included Ramesh Chotai of Vraj Community Services, Kanchan Kumar of TiE-Toronto, Madhukar Pai and Ananya Banerjee of McGill University, and Sharonya Sekhar of Red Cross Canada. The session gave an opportunity have a fact-based debate to discuss the impact of the resurgence of the pandemic and what needs to be done. 

    Watch the recording of the Webinar: India & Covid-19's second wave

    In the News

    Canada

    Covid-19 pandemic slows down FDI in Canada


    Foreign direct investment activity slowed considerably in Canada and globally in 2020 amid upheavals caused by the COVID-19 pandemic. Nonetheless, the stock of both Canadian direct investment abroad and foreign direct investment in Canada continued to increase, the growth in the investment position abroad exceeding that of investment in Canada.

    The stock of Canadian direct investment abroad increased by 4.2% to $1,469.3 billion at the end of the year. Meanwhile, the stock of foreign direct investment in Canada was up 2.7% to reach $1,046.3 billion. As a result, the net foreign direct investment position reached $423.0 billion, up $31.6 billion from 2019.

    Read more: FDI 2020

    India

    India Media & Entertainment Sector is worth US$23.7b despite 24% decline in 2020


    The Indian Media and Entertainment (M&E) sector is expected to grow by 25% in 2021 and is expected to reach INR 1.73 trillion (US$23.7 billion) states FICCI-EY report 'Playing by new rules' launched today. With its current trajectory, the M&E sector in India is expected to reach INR 2.23 trillion (US$30.6 billion) by 2023 at a CAGR of 17%. In 2020 while television continued to remain the largest segment, digital media has overtaken print, and online gaming has overtaken a disrupted filmed entertainment segment. The Indian Media and Entertainment sector has degrown by 24% to INR 1.38 trillion (US$19 billion) in 2020.

    Digital media and online gaming were the only segments that grew in 2020 adding an aggregate of INR 26 billion.  Other segments have degrown by an aggregate of INR 467 billion. While M&E as a sector has usually grown and often outperformed India's nominal GDP, the sector fell three times (3x) India's nominal GDP fall by 8% due to the discretionary nature of the spend. Subscription revenues however proved their mettle by holding up better than advertising revenues.

    Television: The TV industry declined 13% from INR787 billion to INR685 billion in 2020.

    Digital: In 2020 digital media grew by 6.5% to reach INR235 billion and is expected to grow at 22% CAGR to reach INR425 billion by 2023.

    Print: Has degrown 36% in 2020 due to the impact of COVID-19. Print's revenue declines were led by a 41% fall in advertising and a 24% fall in circulation revenues.

    Radio: Revenues, which had fallen 7.5% in 2019, fell by over 50% again on account of both ad rate and volume drops.

    Read more: Playing by New Rules (link)

    Youth Membership

    At a Meeting held recently, the Board of Directors decided that from January 2021, Youth Membership would be restricted to University and College students only. All Youth Members will have to provide proof of being a valid student in a Canadian educational institution.  


    Indo-Canada Chamber of Commerce
    924 The East Mall Toronto ON M9B 6K1
    Tel: (416) 224-0090 Fax: (416) 916-0086
    Email: iccc@iccconline.org
    Website: www.iccconline.org

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