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India should go via Canada to boost trade with US: Report
Monday, 04 July 2011, 03:30 Hrs |
2 Comments
TORONTO: India's route to boost its trade with the US lies through Canada, says a report here.
With a free US-India trade accord nowhere in sight, New Delhi should ink a Comprehensive Economic Partnership Agreement (CEPA) with Ottawa to get more access to the US market, says the report by the Toronto-based C.D. Howe Institute.
"For India, the strategic priority could be to gain greater access to the US market through Canada, given that a comprehensive US-India bilateral free trade agreement does not seem to be in the cards,'' says the report titled 'Does Canada Have an India Strategy? Why it Should and What Both Sides Can Gain from Comprehensive Talks.'
"A negotiation with Canada could be a second best route to this objective as a strategic signal of India's potential importance to the North American economies.''
With their bilateral trade picking up after a slew of accords signed in the past two years, India and Canada are negotiating CEPA to take their trade to $15 billion in the next four years.
Canada should "aim high in a deal with India,'' says study author Wendy Dobson, who is a professor at University of Toronto's Rotman School of Management.
"In the past seven years, in particular, India's economy has displayed increasing dynamism - indeed, measured at current exchange rates, Canada's and India's economies are about the same size (11th and 12th largest in the world, respectively), while on a purchasing power parity basis, India jumps to 4th and Canada drops to 14th,'' according to the report.
With this treaty inked, Canada can "take advantage of the efficiencies available from Indian information technology services providers, and to gain greater access to both the Indian and wider Asian markets using India as a platform for regional operations.''
While India is Canada's 15th largest trading partner, Canada ranks 33rd on India's list.
Currently, Canadian goods face 16 percent tariff in India while Indian goods face nine percent tariff in Canada.
But once the deal is signed and tariffs are eliminated, "each side could realize gains of between $6 billion and $15 billion,'' according to the report.
Source: IANS
With a free US-India trade accord nowhere in sight, New Delhi should ink a Comprehensive Economic Partnership Agreement (CEPA) with Ottawa to get more access to the US market, says the report by the Toronto-based C.D. Howe Institute.
"For India, the strategic priority could be to gain greater access to the US market through Canada, given that a comprehensive US-India bilateral free trade agreement does not seem to be in the cards,'' says the report titled 'Does Canada Have an India Strategy? Why it Should and What Both Sides Can Gain from Comprehensive Talks.'
"A negotiation with Canada could be a second best route to this objective as a strategic signal of India's potential importance to the North American economies.''
With their bilateral trade picking up after a slew of accords signed in the past two years, India and Canada are negotiating CEPA to take their trade to $15 billion in the next four years.
Canada should "aim high in a deal with India,'' says study author Wendy Dobson, who is a professor at University of Toronto's Rotman School of Management.
"In the past seven years, in particular, India's economy has displayed increasing dynamism - indeed, measured at current exchange rates, Canada's and India's economies are about the same size (11th and 12th largest in the world, respectively), while on a purchasing power parity basis, India jumps to 4th and Canada drops to 14th,'' according to the report.
With this treaty inked, Canada can "take advantage of the efficiencies available from Indian information technology services providers, and to gain greater access to both the Indian and wider Asian markets using India as a platform for regional operations.''
While India is Canada's 15th largest trading partner, Canada ranks 33rd on India's list.
Currently, Canadian goods face 16 percent tariff in India while Indian goods face nine percent tariff in Canada.
But once the deal is signed and tariffs are eliminated, "each side could realize gains of between $6 billion and $15 billion,'' according to the report.
Source: IANS
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Reader's comments(2)
1:
"India's route to boost its trade with the US lies through Canada" who ever stated or made this report is absolutely wrong,
Canada should not even state this because most of the Canadians businesses do not trust Indian companies and out source services directly to India unless they have established US experience or contacts.
We all know and it is an established fact after hearing to the many many immigrant sad stories over years and years that to obtain a job or even to start your own consultancy to provide any professional service as an engineer in Canada one should have PEng. To obtain this PEng as an Indian engineer one need at least 10 years of demonstrated professional experience . Out of this 10 years 1 year from North America (North America= Canada or US) . Since Canada don’t accept them straight to come out of this catch 22 situation many immigrants find their first job south of the border and never retun
2. Same is the case with Professional practicing MD degree they directly accept US experience. Canada never gives a chance to a new immigrant from India, these immigrants get the opportunity in US , work there and come back to Canada if they are still interested.
This shows that Canada does not want to invest or spend time or not a risk taker.
So for Indian companies to be sucessful in their trade they should go via US not Canada. If you are in US then it is easy to win Canadian business orders and you can even price higher for your commodities or services as a US established Indian company
I think India already established and demonstrated very well to the world for the last 30 years that US & India trade relationships are very very strong, especially in IT , call center outsourcing services ,US is the first country to recognize this and then came other European and Canada is still not clear on this. The size of educated Indian population immigrated to US and the opportunities provided by US to nurture this and the success stories we hear from immigrated Indians it self is the proof of it. My company is one of such best example. Ours is a boutique clinical research service provider. We provide services only in India. I am a Canadian and have 10 years of Canadian and US biotech industry experience. In one of the India-Canada trade mission workshops I presented about my company, I forwarded our company information Canada trade commissioners office to all Canadian companies. We are those one of the early start companies when the wave of “clinical research” is outsourced to India because of English speaking qualified doctors and patient pool. One of the Canadian business association head stands up makes a humble request to Government of Canada to identify those companies in India and provide list to them to think on that. Several US companies gave us contracts with out even having a presence in US Now these Canadian companies would like to take our services . Thanks to US businesses for the trust they have in our company and that little extra risk they have taken. In recognition to that we pass that little extra we make from Canadian companies to US companies by quoting less . Ofcourse we have the privilege now to quote higher service fees to Canadians by showing our US business experience
This is my sincere suggestion to any Indian business groups and to Indian government
Canada should not even state this because most of the Canadians businesses do not trust Indian companies and out source services directly to India unless they have established US experience or contacts.
We all know and it is an established fact after hearing to the many many immigrant sad stories over years and years that to obtain a job or even to start your own consultancy to provide any professional service as an engineer in Canada one should have PEng. To obtain this PEng as an Indian engineer one need at least 10 years of demonstrated professional experience . Out of this 10 years 1 year from North America (North America= Canada or US) . Since Canada don’t accept them straight to come out of this catch 22 situation many immigrants find their first job south of the border and never retun
2. Same is the case with Professional practicing MD degree they directly accept US experience. Canada never gives a chance to a new immigrant from India, these immigrants get the opportunity in US , work there and come back to Canada if they are still interested.
This shows that Canada does not want to invest or spend time or not a risk taker.
So for Indian companies to be sucessful in their trade they should go via US not Canada. If you are in US then it is easy to win Canadian business orders and you can even price higher for your commodities or services as a US established Indian company
I think India already established and demonstrated very well to the world for the last 30 years that US & India trade relationships are very very strong, especially in IT , call center outsourcing services ,US is the first country to recognize this and then came other European and Canada is still not clear on this. The size of educated Indian population immigrated to US and the opportunities provided by US to nurture this and the success stories we hear from immigrated Indians it self is the proof of it. My company is one of such best example. Ours is a boutique clinical research service provider. We provide services only in India. I am a Canadian and have 10 years of Canadian and US biotech industry experience. In one of the India-Canada trade mission workshops I presented about my company, I forwarded our company information Canada trade commissioners office to all Canadian companies. We are those one of the early start companies when the wave of “clinical research” is outsourced to India because of English speaking qualified doctors and patient pool. One of the Canadian business association head stands up makes a humble request to Government of Canada to identify those companies in India and provide list to them to think on that. Several US companies gave us contracts with out even having a presence in US Now these Canadian companies would like to take our services . Thanks to US businesses for the trust they have in our company and that little extra risk they have taken. In recognition to that we pass that little extra we make from Canadian companies to US companies by quoting less . Ofcourse we have the privilege now to quote higher service fees to Canadians by showing our US business experience
This is my sincere suggestion to any Indian business groups and to Indian government
Posted by:Lakshmi
- 06 Jul, 2011
2:
Being a highly skilled immigrant still struggling (like many other)to get a meaningful job ( even after having 12 years of exp with US MNC) and one who has not left any stone un-turned I completely agree to your every word above.
Basically, all these North American countries have realized a fact that if they have to feed their people in coming years they have to be with India and they want to take advantage of India's booming economy and increased buying power of huge middle class
In reality, there are 1000's of highly skilled professionals in their own country whose skills are un-utilized and are forced to do "odd jobs".
Basically, Canada doesn't have any major industry apart from Oil and gas in states like Alberta etc. They are dependent on US totally. Jobs are very rare post recession and " Hidden-discrimination" is there everywhere
Canada's major source of income is from Immigrant and now there target is international student. As per one of major north american newspaper - India is "Pot of Gold for Canada as middle class Indian students don't have good post education system there". And I have seen how they are ripping of International students
Basically, all these North American countries have realized a fact that if they have to feed their people in coming years they have to be with India and they want to take advantage of India's booming economy and increased buying power of huge middle class
In reality, there are 1000's of highly skilled professionals in their own country whose skills are un-utilized and are forced to do "odd jobs".
Basically, Canada doesn't have any major industry apart from Oil and gas in states like Alberta etc. They are dependent on US totally. Jobs are very rare post recession and " Hidden-discrimination" is there everywhere
Canada's major source of income is from Immigrant and now there target is international student. As per one of major north american newspaper - India is "Pot of Gold for Canada as middle class Indian students don't have good post education system there". And I have seen how they are ripping of International students
Ketan Replied to: Lakshmi
- 06 Jul, 2011
Beautiful and dress selection, please go to Dresses
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