November 05, 2020, FREDERICTON (GNB) – Opportunities NB is partnering with the Indo-Canadian Business Chamber to increase the province’s market presence in India, diversify trade and exports, and attract new investment.
“With a rapidly growing middle class and a strong consumer market, India is one of the fastest-growing economies in the world and is a major growth opportunity for our province,” said the minister responsible for economic development and small business, Arlene Dunn, who is also responsible for Opportunities New Brunswick and for immigration. “The partnership with Indo-Canadian Business Chamber will help us build new business connections on the ground as we look to attract investments and people.”
The chamber works to strengthen and promote trade, commerce, and economic opportunities between India and Canada. It is headquartered in New Delhi and has a network of representatives in major centres throughout India.
“We are delighted to partner with Opportunities NB to promote the New Brunswick advantage to investors and entrepreneurs seeking a cost-effective, near-shore solution,” said Nadira Hamid, CEO of the chamber. “As we start this exciting journey with Opportunities NB, we are confident that it will help strengthen existing bilateral relations between India and Canada. We look forward to being part of New Brunswick’s international growth.”
Growing market presence in India was one of the strategies outlined by Premier Blaine Higgs during the state of the province address in January. It is also one of the actions identified in the province’s Economic Recovery and Growth action plan. The partnership provides an interim solution since plans by the provincial government to establish a physical presence in India have been impacted by the COVID-19 pandemic. The chamber will focus on priority growth sectors, generating leads, and pre-screening in market companies for virtual business-to-business activities.
“What attracted me to New Brunswick was its unique sense of community and entrepreneurial spirit,” said Prof. Dhirendra Shukla of the University of New Brunswick. “This, paired with a competitive business environment and culture of innovation, is a winning combination for growth. I am excited to see our province commit to the Indian market and open the door to new ideas, people, and opportunities.”
The provincial government is working to attract companies based in India. Four such companies now have operations in the province: HCL Technologies Inc., Tech Mahindra, Aditya Birla Group, and Sedin Technologies. Some of these companies have also relocated skilled workers, which supports population growth initiatives.
“Tech Mahindra chose to expand in New Brunswick, in part, because of the strong international connections and working relationships the province has developed over the years,” said company representative Deepa Khosla. “We very quickly discovered the benefits of doing business in a well-connected and welcoming region. I am excited to see our organization continue to grow and succeed here.”