BMO Financial Group

BMO Financial Group

July 15, 2011 08:27 ET

Canada Can Be a Part of India's Bright Future

Panellists at BMO-hosted roundtable discuss the strengthening relationship between the two countries

TORONTO, ONTARIO--(Marketwire - July 15, 2011) -

Editors Note: A photo for this release is available via Marketwire on the picture wire of The Canadian Press.

India's economy has a bright future, and the country sees Canada as a key partner that can help enable its continued growth, according to panellists at a Canada-India Trade and Investment Media Roundtable hosted yesterday by BMO Financial Group.

"We believe that the ongoing impressive expansion of the Indian economy will mean continued strong returns for those seeking to invest in its markets," said Serge Pepin, Head of Investments, BMO Investments Inc. "India offers long term returns on stocks that are as good, if not better, than China's. India is still quite under-invested; it has the potential for growth that China has already had. There are opportunities for Canadian investors to participate in and benefit from that growth."

Rana Sarkar, President and CEO, Canada-India Business Council spoke to the impressive amount of diplomacy underway to complete a free trade agreement between Canada and India, and called for the momentum to continue. "Eighty per cent of the India of 2030 is not yet built. Something very profound is happening, with growth taking off over the next decade. This is the chance for Canadian investors and businesses to get access to the opportunities this brings. We need to pursue the completion of the comprehensive economic partnership agreement between the two countries by 2013. This will allow us to have increased prominence in India and will pave the way for greater mutual prosperity."

Mr. Sarkar also noted the strengthening trade ties between the two countries. "India is looking at Canada as an enabling partner, not just as a resource provider but also a provider of resourcefulness. Indian companies are looking to move into places like South America and Africa – they want to know whom they can look to for financing infrastructure for their mining projects. It's Canadians they're looking at."

Srini Iyengar, Director, Multicultural Markets, BMO Financial Group, noted the strong economic contribution of the Indo-Canadian community, many of whose members are becoming entrepreneurs. "A good percentage of high income earners are individuals who run their own businesses. They all bring very high energy and a desire to succeed that's very contagious."

An audio recording and/or transcript of the panel discussion can be obtained by contacting BMO Corporate Communications at 416-867-3996.

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