President's Message
Pramod Goyal
Return to Business as Usual?
Gradually, Ontario is moving towards reopening its economy. As a temporary, necessary measure, the Ontario government ordered businesses to help stop the spread of COVID-19 by closing non-essential workplaces starting March 17, 2020. Already, almost the entire province has moved to Phase 2 (of the three-phased reopening process announced in earlier). Then, on July 8, all regions of the province were allowed to move in to Phase 2. This will enable small businesses, especially those in retail and dependent upon customers, to restart operations after nearly four months.
The Indo-Canada Chamber of Commerce is organising an interactive session with Hon. Prabmeet Singh Sarkaria, Ontario’s Associate Minister of Small Business and Red Tape Reduction, 0n Thursday 16 July 2020 (see announcement below) to help our small business owner members to understand the implications of the reopening of the economy and the help that Ontario will offer to small business owners to overcome the teething troubles that they may face initially as they start opening their doors to customers.
It remains to be seen how many of these businesses will actually be able to restart and function as they did before the pandemic and the lockout hit them out of the blue. Moreover, even for the ones that will restart, it will be an uphill task to remain in business and continue. Their success will depend upon the support of customers. It is not without reason that city municipalities are emphasizing to the people to help their local retailers by buying local.
Read more: President's Message
Programs & Events
Register here: Minister Sarkaria
In the News
Empowering the Vulnerable in a Pandemic: Ensuring Social Welfare in a Crisis
Click on image to read about the initiative.
- Pradeep Sood, former ICCC President, appointed President of Commonwealth Games Foundation of Canada Read here: CGFC
- Vote for B. K. Sethi & Kanwar Dhanjal on RBC Top 25 Canadian Immigrant Awards. Vote here: RBC Top 25
Insight
Now is the time for a 'Great Reset'
By Klaus Schwab
Founder & Executive Director, World Economic Forum
COVID-19 lockdowns may be gradually easing, but anxiety about the world’s social and economic prospects is only intensifying. There is good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930s. But, while this outcome is likely, it is not unavoidable.
To achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a “Great Reset” of capitalism.
Read more: Insight
Money Talk
By Rakesh Vijay
Ahh, the arrival of spring. After a long, hard winter, it’s a welcomed breath of fresh air. And for investors, it’s an opportunity to think strategically about your portfolios for the coming year, now that the tax planning and RRSP season are behind us. What better way to start than to do a portfolio spring cleaning?
Update Your Investment Objectives
Review and make note of any substantial changes that have taken place in your life that may affect the asset allocation strategy of your investment portfolio. During discussions with your financial advisor, identify any important lifestyle changes to see how they affect your current investment planning objectives. Family and health considerations, career shifts or business plans that have changed, major household expenditures, children’s education expenses that are now on the horizon—these are all factors that may change your tolerance of investment risk or the balance you want between capital preservation and growth.
