Bibeau sees vibrant Indo-Canadian trading relationship
Canada has offered to help India meet new consumer demands and preferences through scientific and technological expertise in food processing, food safety and transportation infrastructure.
This was offered by the Canadian Agriculture and Agri-Food Minister Mary-Claude Bibeau who highlighted a history of strong bilateral trade and collaboration in agriculture, with a vibrant trading relationship in agriculture and agri-food, valued at over $1.5 billion.
She noted the rapid economic growth driven by new consumer demands and preferences.
Bibeau concluded by reiterating “As we look to the future, expanding and diversifying mutual trade and investment opportunities between Canada and India, will also help both economies recover after the pandemic.”
Bibeau addressed on 6 Oct 2020 the two-day India-Canada Agri-Tech Virtual Seminar organized by the Indo-Canadian Business Chamber (ICBC) in collaboration with the Confederation of Indian Industry (CII) and the Ministry of External Affairs.
The ICBC will soon be releasing a white paper report mapping the business opportunities between India and Canada in Agriculture and Agri-tech, the chamber’s CEO Nadira Hamid told the seminar.
The Minister for Agriculture and Farmers Welfare as well as Food Processing Industries, Narendra Singh Tomar announced at the seminar Rs.1 lakh crore Agri Infra Fund to protect small and marginal farmers under the contract agriculture with appropriate measures as the country goes for ‘One Nation-One Market’.
India is developing a digital agri-stack as an important provider for online marketplaces and smart agriculture, said Tomar, assuring that the government is committed to turning the agricultural sector into an investment opportunity.
During the last six months of the global pandemic crisis India has made considerable progressive reforms in the agricultural sector, he pointed out.
India has over 450 start-ups in the Agri-tech sector, which means that every 9th start-up in the world is Indian.
Public-private partnerships are also increasing due to investment in line with this sector, he informed.
Indicating the rapid growth in Agri-trade between India and Canada, Tomar said that India is the fifth largest importer of Canadian vegetables and raw agricultural materials and the seventh-largest importer of leguminous vegetables, called “Vegetarian Protein”.
There is great potential for growth in the Indo-Canadian agri-business. India is an excellent place for the production of healthy food including nutritious grains, organics, herbals, etc., which are the foundation of Ayurveda’s rich traditions and methods of yoga treatment.
Tomar said he would like to see Indo-Canadian cooperation accelerate forward in leveraging its natural capabilities in the agricultural sector, especially on the 2009 MoU signed by the two countries. #Agriculture #banking #MoU #technologies #processing #food /fiinews.com
