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Canada seeks Indian coal firm's investment

Publication Date : 09-04-2014

 

Canada yesterday invited state-run coal major Coal India Limited to explore investment opportunities in the country.

"Canada is keen that Coal India invests in the country, chiefly in metallurgical and coking coal,"Stewart Beck, High Commissioner of Canada to India, told reporters yesterday on the sidelines of an interactive session organised by CII (eastern region).

Beck also expressed hope that Canada-India bilateral trade would register higher growth this year compared to last year.

"In 2013, the bilateral trade stood at around $5.5 billion, showing a growth of 12 per cent over the previous year. We expect a higher growth this year," he said.

Canada has already set its focus on four key areas -- food security, energy security, education and infrastructure --and working overtime to boost trade and investment in India, he told industry representatives attending the session.

“In my view, Canada can bring efficiency and effectiveness in food processing industry and agricultural logistics, help in clean technologies and waste water management,” said Beck, who made his fourth visit to the capital of West Bengal in three years.

There has been a noticeable change in attitude to business in West Bengal. In my reckoning, trade and investment will drive our ties, he observed.
Beck also called for removal of regulatory hurdles to attract Canadian mining companies to invest in the eastern region.

 

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