‘India, Canada trade to touch $15 billion by 2015’

Kolkata: Trade between India and Canada is set to reach $15 billion by 2015, from $4.5 billion in 2010, a top Canadian diplomat said.

Canadian High Commissioner Stewart Beck said that the proposed Comprehensive Economic Partnership Agreement (CEPA) between the two countries is likely to conclude by 2013.

“Prime ministers from both the countries are committed to conclude CEPA negotiations by 2013,” Beck said at a programme organised by the Confederation of Indian Industry (CII) here.

Canada is set to increase involvement in India’s small and medium enterprise (SME) sector, besides scouting for Indian investment in coal exploration and education, the diplomat said.

“Canada aims to invest in India on a large scale, especially in the SME sector. Currently there are 250 Canadian SMEs in India. We hope to increase it to 750 SMEs through client acquisition,” said Beck.

The envoy invited Indian investment in Canada, especially in coal exploration and education sectors. “Countries like Japan have invested in these sectors. There is no reason why Indian companies cannot do the same,” he said.

On investment opportunities in West Bengal, Beck said: “Canada is looking forward to investment in education, agriculture and mining sector in the state.” (IANS)