Province promotes strengths to attract investment and grow exports across key sectors
December 05, 2022
|TORONTO — The Ontario government has concluded a successful trade mission to India to strengthen relationships with economic partners and attract new investments in key sectors, including manufacturing, technology and life sciences. The mission, led by Vic Fedeli, Minister of Economic Development, Job Creation and Trade, resulted in renewed commitments to collaborate with the states of Maharashtra and Telangana, and in an announcement by 88 Pictures, an animation and media entertainment company based in Mumbai, to expand to Ontario.
“Ontario and India have a long history as economic partners and friends, and our government is proud to be back in India to build on that relationship,” said Minister Fedeli. “We continue to drive long-term economic growth by attracting investments and creating opportunities, while promoting the province as a leading destination for international investment.”
From November 25 to December 2, Ontario’s delegation met with leading companies based in India to showcase the province as a global hub for innovation and an ideal place for companies to invest. This included a meeting with 88 Pictures, that together with Toronto Global, announced it has selected Ontario as the first location for the company’s international expansion. This investment will create 150 new jobs for workers in Ontario over the next two years.
Additional highlights included meetings with HCL Technologies, Motherson Sumi, Jubilant Bhartia Group, Larsen & Toubro, ITC Infotech, Essar, Tata and ICICI. The Ontario delegation also attended the Canada-India Business Council’s Mumbai Business Forum and the Indo-Canada Business Chamber’s annual convention to highlight the province’s role as a global innovator, and hosted a roundtable with innovative businesses based in India to discuss their plans for international growth and expansion.
As part of the trade mission, Ontario also renewed its longstanding Memorandum of Understanding (MOU) with the states of Maharashtra and Telangana. The new MOUs will foster continued collaboration on key initiatives across a wide range of sectors, including automotive, aerospace, media and entertainment. This timely renewal will help all three jurisdictions continue to innovate and grow.
Ontario remains committed to adopting innovative and forward-thinking approaches to secure and grow the province’s advantages and position it as an attractive destination to do business. With a talented workforce, state-of-the-art research and development facilities, award-winning manufacturing and access to an abundance of critical materials, the province continues to be one of the most competitive places for businesses to invest and grow.
Vanessa De Matteis
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