(AGENPARL) – lun 05 dicembre 2022 [Ontario Logo]
NEWS RELEASE
Ontario Attracts Economic Opportunities with Trade Mission to India
Province promotes strengths to attract investment and grow exports across key sectors
December 05, 2022
TORONTO — The Ontario government has concluded a successful trade mission to India to strengthen relationships with economic partners and attract new investments in key sectors, including manufacturing, technology and life sciences. The mission, led by Vic Fedeli, Minister of Economic Development, Job Creation and Trade, resulted in renewed commitments to collaborate with the states of Maharashtra and Telangana, and in an announcement by 88 Pictures, an animation and media entertainment company based in Mumbai, to expand to Ontario.
“Ontario and India have a long history as economic partners and friends, and our government is proud to be back in India to build on that relationship,” said Minister Fedeli. “We continue to drive long-term economic growth by attracting investments and creating opportunities, while promoting the province as a leading destination for international investment.”
As part of the trade mission, Ontario also renewed its longstanding Memorandum of Understanding (MOU) with the states of Maharashtra and Telangana. The new MOUs will foster continued collaboration on key initiatives across a wide range of sectors, including automotive, aerospace, media and entertainment. This timely renewal will help all three jurisdictions continue to innovate and grow.
Ontario remains committed to adopting innovative and forward-thinking approaches to secure and grow the province’s advantages and position it as an attractive destination to do business. With a talented workforce, state-of-the-art research and development facilities, award-winning manufacturing and access to an abundance of critical materials, the province continues to be one of the most competitive places for businesses to invest and grow.
Quick Facts
– Ontario is home to more than 900,000 people of Indian origin, the largest Indian population in all of Canada. There are more than 75,000 international students from India studying at Ontario colleges and universities.
– In 2021, two-way trade between Ontario and India was valued at $3.7 billion. There are 69 Indian companies operating in Ontario, and more than 40 Ontario companies have a presence in India.
– Ontario has recently welcomed major investments from India including:
– Ontario has trade and investment offices in New Delhi and Mumbai to attract and facilitate investment deals, help small and medium-sized enterprises expand their export capacity and promote the province’s Open for Business mandate.
Additional Resources
Media Contacts
Vanessa De Matteis
Minister’s Office
Kwok Wong
Communications Branch