He attributed the limited $5 billion trade between Canada and India to Canada being North American Free Trade Agreement-centric and Canadian companies not having built their infrastructure to deal with countries beyond the Atlantic.
In response to a question from India Abroad regarding the Canadian companies shying away from India despite enormous business opportunities, Mr Nath said, the Canadian companies have the products and services, but they are not equipped to look at the quantum of business in East Asia."
OCC chairman Pradeep Sood said, "We have been working to help Ontario companies to see the benefits of diversifying their international trade and investment interests."
Mr Nath acknowledged that companies are showing more interest in India.
"We have raised our concerns before the minister and suggested that greater clarity would help improve the investment environment in India," said Scott E Stewart, managing director, IBI Group. The company has many projects in India.
Mr Stewart said that his company had "witnessed wonderful things in India. The economy is growing there. We would like to see several things made a bit easier - the tax structures and administrative procedures. The work environment is exciting."
