TORONTO: The 1st Virtual Business Mission to led by Victor Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, has brought forward unique tech solutions from 13 #Ontario companies to explore the burgeoning Indian market.
It was a great show with Minister Fedeli highlighting Ontario’s tech hub innovations and several exciting meetings.
Fedeli announced that the Indian company PackUniverse from Pithampur in the state of Madhya Pradesh will be investing $6 million in the first phase of construction of a manufacturing facility in Ontario, creating over 40 jobs.
The Ontario hub of the company will handle the North American business. The company has an office in New York City.
Another big announcement was the decision by Plastic Component Industries (PCI) of India to open its first-ever international facility in Ontario. The facility will manufacture a variety of automotive parts, expanding the company’s product development into the North American market.
PCI will be investing $4 million in the new facility, which will create 80 jobs over the next three years. “This will strengthen their global footprint & grow our auto sector,” Fedeli said.
PCI today supplies auto parts to Tier 1 auto manufacturers in India. Vic Fedeli also met with officials of HCL Technologies, a $9.95 Bn company, with 153,085 employees across the world and which operates in Ontario enhancing the province’s IT ecosystem.
Meetings were also held with managers of the global Indian company Tata Consultancy Services and of InfoSys – which has its Canadian headquarters in North York. Fedeli attended a session of the Canadian India Business Council’s Mumbai Virtual Business Forum, along with Ontario MPPs Nina Tangri and Deepak Anand.
“We are growing the already strong relationship that Ontario and India and this is vital for our shared economic recovery and growth,” Fedeli said.
He had meetings with the Maharashtra Minister of Industry, ubhash_Desai, to advance discussions on renewing the MOU between Ontario and Maharashtra which will enable greater collaboration on trade and investment between the two jurisdictions.
He also interacted with counterparts in the state governments of Karnataka and Madhya Pradesh. The Minister celebrated the one-year anniversary of Ontario’s formal MOU with NASSCOM (National Association of Software and Service Companies) which solidified the ongoing commitment to tech collaboration between India & Ontario.
“Our mission to India just over a year ago resulted in stronger commercial relationships and increased export and investment opportunities in the growing Indian market,” said Parliamentary Assistant for Economic Development, Nina Tangri. “This year’s virtual mission is building on those relationships.”
Two-way trade between Ontario and India was worth C$3.4 billion (US $2.6 billion) in 2019.