PREMIER
PRAISES INDIA, PROMOTES ONTARIO’S STRENGTHS
Busy
Day In Indian Capital Includes 10 Agreements
Signed By Business Mission Delegates
NEW
DELHI — Ontario is determined to play a major role in India’s dynamic
economic growth, Premier Dalton McGuinty told key government officials and
business leaders here today.
“We
are here from Ontario — a large delegation of our finest business people
and researchers, educators and builders — because we are indebted to
India’s rich history. We
are impressed by the exciting India of today and we are intent on playing
a bigger role in India’s future,” Premier McGuinty said in his first
major speech here.
“We
are focused on areas where we see infinite potential: culture and
education, financial services and infrastructure, and research and
innovation,” Premier McGuinty said.
“But
our ultimate goal is to build a stronger India, and a stronger Ontario, by
developing the opportunities that will, in turn, strengthen our people.”
Premier
McGuinty’s address received a standing ovation from business and
political leaders, including India’s Minister of Science and Technology,
Kapil Sibal.
India’s
economy has posted an impressive average growth rate of 6.8 per cent since
1994 following economic reforms and liberalizations.
Minister
Sibal told the audience that growth is expected to average nine per cent
over the next five years. He
said this creates massive challenges for India and tremendous
opportunities for Ontario in areas such as energy, drinking water,
agriculture and infrastructure.
“We
need new solutions, we need new partnerships,” Minister Sibal said.
Those
developing partnerships were marked by the signing of a dozen agreements
between Ontario institutions and their Indian counterparts.
The
memorandums of understanding included ones signed by the Ontario Chamber
of Commerce, between PCI Geomatics and Ramtech Corporation, and between
several Ontario universities and Indian institutions.
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In
his speech, Premier McGuinty stressed that Ontario’s greatest strengths
are the education and skills, work ethic and diversity of its people,
including more than 500,000 Ontarians of Indian descent.
“Ontario
matters. We’re cost
effective, we innovate, and we offer access to North America, one of the
world’s richest markets,” Premier McGuinty said.
“You will feel at home when you do business in Ontario. We are home to one of the largest Indian populations —
outside of India — in the world.”
Premier
McGuinty’s speech was the highlight of Emergent India: Now and Into the
Future, a conference that brought together Indians and Ontarians
interested in working together.
Ontario’s
trade with India surpassed $1 billion in 2005, but Ontario wants to take
business with India “to the next level,” he said.
Later
in his busy day, Premier McGuinty met with Palaniappan Chidambaram,
India’s Minister of Finance and Sheila Dikshit, Chief Minister of Delhi,
and attended an exhibit showcasing the work of Canadian artist Charles
Pachter.
He
also met with Malvinder Singh, the CEO of Ranbaxy Laboratories Ltd.,
India’s largest pharmaceutical company.
“The
Premier and our delegation is getting a tremendous reception,” said
Sandra Pupatello, Minister of Economic Development and Trade.
“This
mission is off to a great start,” said Harinder Takhar, Minister of
Small Business and Entrepreneurship.
The
mission’s next stop is Bangalore, home to many of India’s most
important information technology companies.
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