The Canadian economic hub of Toronto is inviting Indian investments in knowledge intensive sectors, offering itself as a gateway to the $16.5 trillion economy of the North America Free Trade Agreement area, which includes USA, Canada and Mexico.
A visiting trade delegation from Toronto, which met with local entrepreneurs and investors here on Tuesday, said it would focus on attracting investments into information and communication technology, life sciences and renewable energy sectors.
According to the CII, Indian exports to and imports from Canada in 2009-10 were $1.1 billion and $2 billion, respectively, which is less than one per cent of the total.
For the same period, Indian FDI in Canada was $8 billion while the Canadian FDI in India was close to $4 billion.
The industry body said lack of information was one of the main impediments to trade despite huge opportunities in energy, auto, metals, pharma and IT sectors.
The Comprehensive Economic Partnership Agreement with Canada is expected to balance the relationship, said Mahesh Desai, convenor, CII-AP's exim panel.
According to Renato Discenza, president and CEO, Invest Toronto, an investment promotion agency, the city region offers world class talent and has the third biggest clusters in ICT and financial services in North America after New York, San Francisco and Chicago.
It has half a million Indian-origin