Canadian companies have demanded Free Trade Agreement (FTA) with India to enhance economic and political ties between the two countries.
"India is one of the largest and fastest growing markets in the world. We need India more than India needs us," Gary M Comerford, Senior Vice President of Sunlife said.
"Serious efforts should be made to accelerate the process to finalise the FTA that will enhance Canadian companies' access to the vast Indian market and further strengthen bilateral trade and investment relations," Comerford said yesterday.
He was delivering a lecture on the success story of Sunlife in India at a meeting organised by the Canada India Business Council and Ontario Bar Association.
Urging Canadian companies to investment in India, Comerford said "Do not go to India unless you have a strategy, and you are focused, determined, prepared, and have a lot of patience."
Cliff Sosnow, international trade expert with one of Canada's largest law firm, Blake, Cassels and Graydon, said that the FIPPA agreement should be followed by a free trade agreement so that Canada-India trade relations were strengthened and move to a higher plateau.
He said "In the current economic situation, the threat of much slower global trade appears to be real. It is important India and Canada should sign free trade agreement to keep a crucial engine of growth running as it braces for fallout from the global financial crisis."
