Indo-Canada trade shows exponential growth: Karygiannis

Hyderbad, Mar 19 (UNI) Canadian Member of Parliament Jim Karygiannis today said trade between Canada and India had grown exponentially in the last ten years with increased investments in both the countries.

Addressing the press here, he said India was an emerging economy and Hyderabad was experiencing rapid development in Information Technology.

Indo-Canadians have strong ties with Hyderabad which could be used to establish trade links that would benefit the two countries.

Mr Karygiannis was in the city to explore trade and investment opportunities between India and Canada.

He met Chief Minister Y S Rajasekhara Reddy and Opposition TDP Leader N Chandrababu Naidu during his visit to the city.

The Canada-India Agreement was inked in 2005 for scientific and technological cooperation in five priority areas -- Nano-science and Nano-medicine, Information and Communications Technology, Biotechnology and Health Research and Medical Devices, Sustainable and Alternative Energy and Environmental Technologies and Earth Sciences and Disaster Management.

The bilateral trade between the two countries reached record levels in 2006 at 3.6 billion US Dollars. Canadian exports to India increased 54 per cent over 2005, to 1.7 billion US Dollar, he added.

UNI BR VA AKJ AS1808