Finance Minister

India to create 20 world-class universities

Canada India Education Council (CIEC)

Source: Study International via Academica

The Indian government reportedly plans to turn 20 universities into world-class institutions. Indian Finance Minister Arun Jaitley announced in February that “enabling regulatory architecture will be provided to 10 public and 10 private institutions to emerge as world-class teaching and research institutions” and that a not-for-profit Higher Education Financing Agency would be created to “leverage funds from the market” to support improvements. While the announcements were “encouraging” to Boston College Center for International Higher Education Director Philip Altbach, he dubbed the plan a “tall order” and expressed wariness due to a historical lack of success in India’s previous efforts to achieve similar goals.

New trade and investment office to boost Indo-Canadian ties

Canada India Education Council (CIEC)

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.

Canadian province eyes 10-fold jump in trade

Canada India Education Council (CIEC)

Source: Economic Times via Indian Economic Business News

Michael De Jong, the Finance Minister of the Canadian province of British Columbia, says he is eyeing a 10-fold jump in trade with India over the next few years. De Jong is betting on companies from India exploring opportunities in sectors such as coal and natural gas while businesses from the Canadian province seeking opportunities in areas such as life sciences, aerospace and agri-food processing. “We did $300 million of trade last year, (but) I see a potential for $3 billion. India has more to offer Canada than shrimp, which I believe registers as one of the top exports. We can do way better. For us, we are blessed with abundant natural resources and we understand that in India there is an insatiable appetite for coal, natural gas and fertilizers. These are areas where both sides can work together,” he said.