Export Development Canada announced an annual record in the amount of financing it provided to facilitate business between Canadian and Indian companies in 2015, nearing an estimated $1 billion.
- Exports of goods to India grew by 52 per cent between 2010 and 2014, and exports of services grew by 58 per cent during the same period
- India accounted for 6.1 per cent of Canada’s total global exports of goods in 2014, up from 5.2 per cent in 2010
- India’s GDP is nearly $2 trillion and is forecast to grow by more than 8 per cent this year, the fastest growth in the G20
“2015 was Export Development Canada’s most successful year to date in India, and there’s a lot more room to grow,” said Nathan Andrew Nelson, the agency’s Chief Representative in India. “We’ve been working closely with Global Affairs Canada and provincial trade partners to provide Canadian companies with direct access to many of the country’s top-tier companies. India presents huge opportunities for Canadian exporters,” added Nelson, “many of which will benefit from the type of assistance we can provide to help them do business there,” reports Canada News Wire.
