British Columbia Premier Christy Clark has announced that her government will soon make “big investments” in the province’s postsecondary system to address a talent shortage in the tech sector. “There will be some announcements coming in the next little while with respect to investing in computer science in particular in universities … it will be a significant amount,” Clark added in an interview with the Globe and Mail. In July 2016, 18 BC tech executives sent a letter to Clark asking for the province to address the talent shortage. Clark did not specify, however, whether the final amount invested in PSE tech training would match the $100M requested by the executives.
Canada’s post-secondary institutions are at the forefront of excellence in science, research and innovation. They help to train the workforce of tomorrow and create the knowledge and insights needed by the private and public sectors to build a clean, sustainable economy.
The Minister of Science, the Honourable Kirsty Duncan, today announced that the Government of Canada will launch the application process for a $2-billion fund that will improve research and innovation infrastructure at universities and colleges across the country.
Announced in Budget 2016, the Post-Secondary Institutions Strategic Investment Fund will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities. Consultation with the provinces and territories as well as work to implement the initiative as quickly as possible are already under way.
The targeted, short-term investments under the Fund will promote economic activity across Canada and help Canada’s universities and colleges develop highly skilled workers, act as engines of discovery and collaborate on innovations that help Canadian companies compete and grow internationally.
Source: The Economic Times
KOLKATA: Canada is keen on investing in joint projects with India especially in tourism, agriculture, IT and education sectors.
At a meeting with a multi-sectoral gathering organised by Indian Chamber of Commerce (ICC) here today, a delegation of Commonwealth Parliamentary Association (CPA), which included some senators and MPs of Canadian Parliament, said the size of trade between the two countries had grown to 5.2 billion dollars last year from 1.75 billion dollars in 2010.
“By 2015, this (trade between the two countries) is expected to touch 15 billion dollars, a target set by the Canadian Prime Minister,” Russel Hiebert, MP, said.
There was immense scope of widening ties in education and agriculture sectors between India and Canada, he said.
The opportunity in education sector lay in the fact that in India 500 million people are under 25 years of age and to cope up with the added demand of quality education it needs another 1,000 universities for which the two countries could collaborate.
There was scope of partnership between the two countries in the agriculture sector as 24 per cent of pulses consumed in India are grown in Canada.
Canada, he said, would like to offer technological collaboration in the area of exploration natural gas for which India has got abundant resources.
Source: Business Standard via Indian Economic Business News
India remains an attractive investment destination, even as taxation uncertainties pose a challenge, according to global consultancy Deloitte. “While India continues to be an attractive investment destination, the dynamic Indian tax framework creates some apprehensions in the investors’ perception about the approach on the tax issues related to transactions in India,” said a survey of investors, spread across various segments, conducted by Deloitte. “Around 63 per cent of those questioned consider Singapore to be a favourable jurisdiction for investments into India,” said the survey, adding 53 per cent consider uncertainties in the tax position as a significant challenge for doing business in India. Also, about 80 per cent of the participants indicated there should be rationalisation in India’s corporate tax rates in the range of 20 to 30 per cent. The survey suggested there was a need for a robust tax policy and an equally strong tax litigation process or an effective dispute resolution mechanism, to reinforce a stronger faith from multinational investors. It said investors believe India had an effective tax credit mechanism, which helped in reducing the overall tax burden, though there was room for improvement.
Source: Government of British Columbia via Indian Economic Business News
Business leaders from India and British Columbia will meet to discuss investment opportunities at the BC-India Global Business Forum on Tuesday, March 12, 2013, at the Vancouver Trade and Convention Centre. The opening and expansion of markets for British Columbia’s goods and services, particularly in Asia, and the attraction of investment to grow B.C.’s priority sectors is a key pillar of the BC Jobs Plan. India is identified in the BC Jobs Plan as a priority market. The B.C. government has been spearheading India market outreach efforts to seek new export and investment opportunities for B.C. businesses, and to create greater awareness of B.C.’s advantages as a trading partner. The BC-India Global Business Forum is a key part of B.C.’s longer-term economic and trade strategy with India. It will profile key sectors that are of mutual priority for both the B.C. and Indian markets. The forum will include sector-specific discussions and presentations, as well as networking sessions to facilitate business opportunities and business matching.
Source: High Commission of Canada, New Delhi via Indian Economic Business News
As a partner country, Canada had significant presence at the 2013 Vibrant Gujarat Global Business Summit (VG2013), from January 11 to 13, in Gandhinagar, Gujarat. With precursor events starting on January 8, VG2013 brought together business leaders, investors, corporations, industry experts, policy and opinion makers and over 500 exhibitors with over 40,000 visitors attending from India and more than 100 countries. Highlights of Canada’s presence at VG2013 included: Canada Country seminar on January 11; Canada-Gujarat Trade and Investment Opportunities seminar on January 12; Canada Business Partnering Forum (match-making event); Canada Pavilion with provincial representations at the Trade Show and an Education Pavilion at the Trade Show Delegates also participated in the International Conference for Academic Institutions on January 9 and 10, the Innovation Convention on January 9 and the Technology Convention on January 10.
Source: Economic Times via Indian Economic Business News
British Columbia Finance Minister Michael de Jong, who was on a visit to Punjab recently said the opening of a new trade and investment office in Chandigarh will strengthen economic ties between India and Canada.”Trade and Investment office (at Chandigarh) will boost the business prospects (between India and Canada),” Jong said. A new trade and investment office was opened at the Canadian Consul-General in Chandigarh on December 7th. Jong said there is a huge potential for mutual trade in sectors of energy, coal, technology, education, wood products, digital media ability, etc. “Trade must go both ways and both the countries have to go a long way in this regard,” he said. On immigration, Jong said there are some “difficulties” in the matter of immigration even though India is the second largest source of immigration to Canada. “Our biggest challenge in coming years is people. We need people in our economy but we need to have a fair system that encourages movement of people in both the countries,” he said.