BusinessIndia

India-Canada trade grew 24 pc during pandemic time

New Delhi: Indian High Commissioner to Canada Ajay Bisaria has said the merchandise trade has gone up to 24 per cent during the pandemic time and the investment from Canada to India has grown from USD 5 billion to USD 60 billion in the last 5-6 years.

In a virtual Buyer-Seller Meet on Food & Beverages products on Wednesday organised by TPCI in association with the High Commission of India in Ottawa, Trade Promotion Council of India Chairman Mohit Singla said, ‘It is also pertinent to mention that the food sector has shown phenomenal growth to the tune of 27 per cent and the major markets that have responded well are the US and Canada. We have to work with more responsibly.’
The Buyers Seller Meet was held between prominent Indian exporters and Canadian buyers for real-time business discussions.

Mr Singla said businesses never stop and the business community always find ways to move forward, no how difficult is the situation.

‘I am very happy to inform that this BSM marks the 40th virtual meeting that TPCI has organized during the COVID19 pandemic. TPCI has successfully organized virtual bilateral and multilateral business meetings with various countries.’

Further, Singla stated that ‘We feel that Canada can be a very important market for Indian F&B industry as Canada has a large population, approximately 2.4 million, of the Indian diaspora. Outreach to the mainstream market is the biggest challenge for the Indian F&B industry. I am sure with the support of fellow buyers, who have been strongly supporting TPCI and Indian F&B products, and with the support of the High Commission we will be able to perform better in the coming days.’

He informed that export in June vis-a-vis the same month last year has declined only 4 per cent.

‘We exported almost Rs 1.66 lakh crore worth of merchandise. It shows that the Indian market has bounced back very well and the international market is responding well to Indian exports,’ he maintained.

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