Montek Singh Ahulwalia meets with C-IBC Board, Sponsors, Patrons and Members

Approximately 100 guests attended an early morning breakfast at the Intercontinental-Hotel Toronto Yorkville on June 28, 2010 to listen to India’s Sherpa discuss the G20, India’s economy and bilateral relationship with Canada.

Montek Singh Ahulwalia, Deputy Chairman of the Planning Commission of India, was guest of honour at a C-IBC event where he spoke and participated in a moderated question and answer session with attendees. Research in Motion (RIM) was the Gold sponsor and Open Text and Bennett Jones LLP were  Silver Sponsors. Ontario’s Department of Economic Development and Trade were a Partner.

In his remarks, Dr. Ahluwalia noted that India posted a robust 8% growth despite adverse global conditions and said that a 10% growth rate was achievable in the next four to five years. He told everyone that Canadian companies have a great opportunity to participate in India’s “vibrant” private sector and spoke of a young Indian professional workforce that will transform India in that timeframe.

The Canada-India civilian nuclear agreement signed immediately after the G20 concluded, along with others India has signed, will help India raise its nuclear generating capacity from 4,000 MW to 50,000 MW in the coming years. Dr. Ahluwalia urged Canadian “green energy” companies to partner in projects in India’s ambitious solar energy plan.

During the Q&A, moderated by Bennett Jones LLP chair Hugh McKinnon, he referred to Canada as the world’s “mining guru” and said the bilateral Earth Sciences Memorandum of Understanding (MOU) between the two countries will help India utilize Canadian expertise in this vital sector for India. Tom Jenkins of Open Text thanked Dr. Ahulwalia for making himself available and providing his unique perspectives.

The event provided an opportunity to engage the guest of honour and network with those at the breakfast.

The Honourable Roy MacLaren, Chair of the C-IBC, also hosted private off-the-record dinners with Anil Mukim, Joint Secretary of the Ministry of Commerce & Industry, and KP Krishnan, Deputy Minister of Capital Markets for the Ministry of Finance and incoming Chair of the Prime Minister’s Council of Economic Advisers. The comprehensive economic partnership agreement between Canada and India was discussed at both events.