Canada's major province Ontario has invited Indian companies to invest there, saying it has competitive corporate tax rate, strong financial sector and a talented workforce besides being a gateway to USD 20 trillion North American market.
Ontario's Premier Kathleen Wynne, who is here on a visit to encourage Indian companies to invest in her province, identified Information and Communications Technology, life sciences, agri-food, auto and film sectors as possible areas for business.
Wynne, who is here mainly to attend Global Business Summit later this week, also evinced interest in cooperation in sustainable development and urban renewal projects.
She will also meet Prime Minister Narendra Modi to discuss "shared priorities and areas for future collaboration".
"Ontario and India have a lot in common. We not only share a commitment to invest in sustainable infrastructure and urban renewal projects, we also share an interest in developing our key business sectors," Wynne told PTI.
She observed that India is growing due to strengths such as a young and increasingly-educated population, established knowledge-economy sectors and ambitious plans to develop its social and physical infrastructure.
"There is much we can learn from each other, especially in sustainable development, clean technology and infrastructure," she said.
Presenting her province, which has a huge and vibrant capital in Toronto, as a perfect place for Indian investment, Wynne said, "Ontario's competitive and stable business environment makes it an ideal place for Indian companies to start a new business or expand an existing one.
"We are one of the world's best places to do business because we have a competitive corporate tax rate, a strong financial sector and a talented workforce."
She said investing in Ontario will also give Indian companies access to the USD 20 trillion NAFTA (North American Free Trade Agreement) market.
Besides Delhi, the Premier of Ontario will be travelling
to Chandigarh, Hyderabad and Mumbai to meet political and business leaders and discuss ways to build "stronger relationships that will generate jobs and economic growth" in India as well as her province.
Talking about the 'Make in India' initiative, she said the programme will make it easier for companies of her province and India to do business together, which will benefit both the sides.
"To keep up with the world's changing economy and foster new economic opportunities, Ontario will continue looking for new ways to expand its trade network. India is a priority market for Ontario," Wynne said.
With regard to sustainable development and urban renewal, the thrust areas of the Modi government, she said Ontario has valuable expertise that can help India achieve its goals.
"Our experience in building urban transportation systems, developing green and green-efficient projects and creating renewable energy infrastructure makes us a natural partner for India as it works to achieve the goals of its Smart Cities Initiative," she said.
Wynne said Ontario also has valuable expertise in sustainable low-carbon economy which it can share with India.
"We have already eliminated coal-fired generation... And we are investing in new infrastructure to increase the province's supply of clean, renewable energy," she said.
The Premier also expressed readiness to work with India in the field of clean urban transport.
