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India potential underlined
SouthAsian Focus, Canada
Wednesday July 11 2007
Staff Report
While India's investment into Canada totalling around $2 billion over the last couple of years is a good start, it is nowhere near the potential represented by both countries, James Flaherty, Minister of Finance, said at the Canada India Day gala held in Vaughan over the weekend.
A number of leading community representatives including R.L. Narayan, Indian High Commissioner, attended the event held to celebrate Canada Day.
Flaherty recognized India's rapid economic growth-- the country has been charting a stable 8 per cent GDP annual expansion and is poised to become the world's fifth largest economy in a decade, overtaking in the process Italy, France and the United Kingdom-- but said in order to sustain the growth India will require a predictable long-term supply of natural resources and energy. He pointed out Canada is an emerging energy superpower with the largest established petroleum reserves on the planet after Saudi Arabia.
He noted India is the second largest source of new Canadians with more than 700,000 people of Indian heritage calling Canada home. "Indo-Canadians have shared their culture, values, skills and expertise, and continue to do so."
Flaherty praised the role of cultural organizations such as Panorama India, through which Indo-Canadians have also shared their spirit of generosity and giving.
The minister presented plaques to various businesses for their community initiatives, including to Jeff Lal of Jaipur Development, and Nina Jain of Scotiabank.
Panorama India provides a platform for all Indian cultural associations, groups, and individuals to exhibit and showcase their arts and culture and to foster a better relationship between India and Canada.
The Canada Day celebration, now called Canada-India Day Gala Dinner, is a fund-raising event. The funds raised enables the organization hold various other events to showcase India's art, culture and heritage.
SouthAsian Focus, Canada
Wednesday July 11 2007
Staff Report
While India's investment into Canada totalling around $2 billion over the last couple of years is a good start, it is nowhere near the potential represented by both countries, James Flaherty, Minister of Finance, said at the Canada India Day gala held in Vaughan over the weekend.
A number of leading community representatives including R.L. Narayan, Indian High Commissioner, attended the event held to celebrate Canada Day.
Flaherty recognized India's rapid economic growth-- the country has been charting a stable 8 per cent GDP annual expansion and is poised to become the world's fifth largest economy in a decade, overtaking in the process Italy, France and the United Kingdom-- but said in order to sustain the growth India will require a predictable long-term supply of natural resources and energy. He pointed out Canada is an emerging energy superpower with the largest established petroleum reserves on the planet after Saudi Arabia.
He noted India is the second largest source of new Canadians with more than 700,000 people of Indian heritage calling Canada home. "Indo-Canadians have shared their culture, values, skills and expertise, and continue to do so."
Flaherty praised the role of cultural organizations such as Panorama India, through which Indo-Canadians have also shared their spirit of generosity and giving.
The minister presented plaques to various businesses for their community initiatives, including to Jeff Lal of Jaipur Development, and Nina Jain of Scotiabank.
Panorama India provides a platform for all Indian cultural associations, groups, and individuals to exhibit and showcase their arts and culture and to foster a better relationship between India and Canada.
The Canada Day celebration, now called Canada-India Day Gala Dinner, is a fund-raising event. The funds raised enables the organization hold various other events to showcase India's art, culture and heritage.