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Business
Ashok Dasgupta
TORONTO: Even as Canada is in the process of chalking out an `India strategy' to make greater inroads into the huge South Asian market, the Province of Ontario, the manufacturing and innovation hub of the North American State, is set to embark on a five-point mission to tap the massive unexploited trade, business and human resources potential that exists in the fast-growing emerging economy. Ontario Premier Dalton Mcguinty will be leading a 142-member delegation to India on a 11-day visit starting January 11, the first such from the most diverse Canadian Province, to scout for business opportunities primarily in five sectors infrastructure, research and innovation, financial services, cultural industry and education. At a 45-minute meeting with a group of visiting Indian newspersons at Ontario's Legislative Building in Queen's Park here, Premier McGuinty stressed that apart from the wealth of any nation which can copy or buy out technology, the two things that would go a long way for the betterment of the people of any State in the long term by way of high wages, high standard of living and high economy were education to build up human capital and innovation.
Success of Blackbery
Giving examples of the `Blackbery' revolution the wireless communication set produced in Ontario that has taken the Province and the rest of Canada as also the world by storm Mr. McGuinty noted that if human capital is taken care of, innovation would automatically follow. Towards this end, he referred to the setting of the MaRS (Medical and Related Sciences) Discovery District in Toronto to attract lab researchers and innovators from all over the world under one roof to develop a culture of innovation and facilitate commercialisation of the innovations and discoveries. The Onario Premier was happy to note that India was also moving along the direction followed by Ontario by laying stress on primary and secondary education which by itself would yield dividends in the years to come by increasing the skills of the people. "We recognise, as does India I am sure, that India will only be at its best if each Indian is at his or her best. And the country can be at its greatest potential only if the people achieve their greatest potential,'' he said. Ontario's trade with India, Mr. McGuinty said, was Can $1 billion last year, up 80 per cent since 2001, and India was an emerging source of new investment, especially in the knowledge-based economy. The objective of the trade mission, he said, was to attract key investment and help Ontario businessmen break into key global markets like India. Mr. McGuinty, however, was candid enough to admit that India must be receiving hundreds of trade missions "and why not, that's the market to be in... Developing relationships take time. First of all, a one-off trade mission will not have the desired effect. We are not going to establish anything more than opening legs with the first trade mission. We will have to settle upon a focussed and permanent strategy. Once we return from India, better opportunities of understanding will be found,'' he said. The Ontario Premier is also clear in his mind that in the infrastructure sector, the major contracts, be it in roads, airports etc.have already been contracted. "But the aim is to be a long-term player, and seeing the needs of infrastructure in India for the next 20-30 years, opportunities are sure to come our way,'' he said. In an oblique reference to Ontario's almost captive trade with the U.S., especially in the auto sector to the extent of 90-95 per cent, Mr. McGuinty said: "If you are tied by the hips [as Ontario is with the U.S.], there's very little that we can do... Hence the move to break and reach out to other markets [such as India]. A number of delegates in Mr. McGuinty's trade mission, including innovators, academicians and politicians, would be people of India origin. That would make it that much easier to understand the Indian viewpoint, Mr. McGuinty said, while throwing an open invitation to come and settle in Ontario to add to the human capital.
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