By Bruce Lazenby,
President and CEO, Invest Ottawa
At the beginning of February, Invest Ottawa and a handful of local companies joined a delegation to India, led by Premier Kathleen Wynne. Along with other Liberal MPPs, municipal leaders and representatives from post-secondary institutions, the delegation covered four cities in less than five days–$98 million worth of partnership agreements were announced on the first day alone.
India represents tremendous opportunities for Ottawa companies. It has the potential to become the third largest economy in the world by the next decade. According to the International Monetary Fund (IMF), the outlook for short-term growth is also positive as the Indian economy represents a ‘bright spot’ in the global economic landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time, with an economic growth rate of 7.3 percent in 2014-2015, and projected growth rates of 7.5 to 8.3 per cent in 2015-2016.
It is also a market that requires a fair degree of relationship building to forge trust and demonstrate serious intent. Organized outbound missions help to open doors and establish credibility much faster than venturing into this vast market on your own. The world is a competitive place and in order to sell to some of the biggest companies in the biggest countries, you need to meet them first hand.
That’s why in April of this year, Ottawa is organizing another trade mission to India, led by our Mayor, Jim Watson. In support of key priorities established by the city, this trip will focus on the following three areas of opportunity: trade, education and tourism. It aims to: establish key linkages that improve access to this global market; identify opportunities for collaboration; and further strengthen political ties with Indian decision-makers. With a wide range of international business expertise, Invest Ottawa will be a key participant on this trip. Our services help Ottawa-based companies expand overseas and introduce foreign companies to Canada’s capital.
Please indicate your interest in participating by contacting Krista Kreling at Krista.Kreling@ottawa. Staff from the mission planning team can address any questions you may have. And reach out to Invest Ottawa at any time. We are always happy to help.
