States are speeding up land and labour reforms, notes Rossow
With Canada looking at diversifying its economy, India comes across as a market that represents tremendous upside in terms of favourable demographics, Goldy Hyder, President and CEO, Business Council of Canada, said at the Partnership Summit 2021 organized by CII in partnership with the Department for Promotion of Industry and Internal Trade (DPIIT).
He pointed out that predictability, stability and confidence instilled by the regulatory regime and political infrastructure along with social cohesion are the key factors for consideration by Canadian companies for doing long-term business in any country including India.
India and Canada share important people to people ties and have supported each other through the pandemic, added Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Canada.
“Partnerships for both nations could thrive on start-ups and innovation, agri, food and health tech, amongst other areas,” Ng told the Summit held 13 Dec 2021.
The pace of reforms in India has started to pick up following the economic slowdown on account of the onset of the COVID-19 pandemic, observed Richard Rossow, Senior Adviser and Wadhwani Chair in U.S.-India Policy Studies, Center for Strategic and International Studies (CSIS).
He also noted that State Governments are speeding up reforms in several critical areas such as in land acquisition, labour reforms among others which will further position India as an attractive investment destination. fiinews.com
