FIA welcomes Canadian delegates in Faridabad to boost trade relations

Faridabad, 03 Feb 2024– Faridabad Industries Association (FIA) welcomed a special delegation from Canada aimed at bolstering economic ties between the two nations. The event, aimed at enhancing business, economic, and social ties between the two nations, featured engaging discussions and fruitful partnerships.

Addressing the gathering, Trevor McPherson, President & CEO of the Mississauga Board of Trade, highlighted Canada’s significant contributions to the global economy.

He emphasized that Mississauga, Canada’s sixth-largest city, plays a pivotal role in fostering trade, providing employment to thousands, and hosting numerous international headquarters. The MBOT Organization emerges as a pivotal force, amplifying the voices and demands of its members while making significant strides in shaping impactful commercial policies. With its operations spanning advanced manufacturing, financial services, information and communication technologies, life sciences, and stellar logistics institutions, MBOT contributes significantly to the economy, with an estimated worth of around $55 billion.

Trevor McPherson lauds MBOT for its role in fostering business, networking, and prosperity among its members, further solidifying ties with organizations like the Faridabad Industries Association, promising collaborative efforts to boost bilateral trade and economies. Addressing the gathering, Samir Sharma, Chairman of MBOT and President of Crown Group of Hotels, extols Canada’s allure, likening its welcoming ambiance to India’s, owing to its sizable Indian-origin population. A fervent appeal is made to FIA members to seize opportunities in Canada, fostering not only commercial but also interpersonal ties between the two nations.

Welcoming the delegation from Canada, Raj Bhatia, President of FIA, hails India’s burgeoning economy, bolstered by its vast population and skilled workforce. India, with its 1.4 billion-strong populace, predominantly comprising a youthful demographic, stands poised with 60 percent of the population in the age group of 18 to 35 years, 55 million skilled, 10 million unskilled along with 5.6 million engineers, MBAs, 1 million doctors, driving the nation towards surpassing emerging economies like China. Highlighting India’s energy prowess, Bhatia mentions that 425 GW of electricity is available in the country, using which 160 million tonnes of steel is produced annually, which is used for manufacturing 26 million vehicles in addition to export.

He also added that India has a network of 105 thousand kilometers of railway lines and 64 lakh kilometers of roads, which is second in the world and is helpful in providing raw material and finished goods to the industries and consumers. The transformative vision of PM Narendra Modi, aimed at fostering skill development and strengthening the economy, garners praise, with hopes of propelling India to the zenith of developed nations. As the program progresses, S.S. Sorot, Executive Member of the Association, foresees the event as a catalyst for economic and social empowerment in both nations. Paritosh Sharma, Association Manager, reaffirms the commitment to providing members with cutting-edge information to navigate the evolving business landscape. The distinguished presence of industry stalwarts like R.K. Jain, Shammi Kapoor, S.S. Banga, Ajay Juneja, V.K. Malik, Pradeep Mohanty, Satish Bhatia, R.G. Agrawal, Gautam Choudhary, Rakesh Jaggi, Binod Bhuvalka, Bhupinder Singh, Pramod Aggarwal, Ruchit Jaggi, Aditya Choudhary, and Ravi Vasudeva adds luster to the event, promising a fruitful exchange of ideas and collaborations.