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Indo-Canada trade has potential to grow threefold

Canadian Minister of Natural Resources Herb Dhaliwal said on Thursday that the present trade of $2 billion between India and Canada has the potential to grow threefold over the next few years.

A productive interaction between government and business community of the two countries may facilitate actualising the potential, he said while sharing details about the Canadian trade mission to Mumbai.

He said the Canadian government has signed a memorandum of understanding with the Union ministry of science and technology of the Indian government on the exchange of geo-science.

He said a similar MoU will be signed with Andhra Pradesh government. Dhaliwal said his government is also holding talks with the Union ministry of oil and natural gas for transfer of technology for recovery of oil from the sea.

He stated that a delegation of 45 companies -- from the field of energy, mining and gas -- have accompanied the trade delegation to India.

On the problems faced by the Canadian business community in India, the minister said there was lot of bureaucracy and red tapism. He said Canadian business community wants single window system, level playing field and transparency.

''The Indian legal system needs to be modernised'', he added.

UNI

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