By Ross Marowits, The Canadian Press <\/p>\n
MONTREAL - Canada's aerospace sector can create jobs at home by taking advantage of India's modernization and recent moves to liberalize its foreign ownership restrictions, says the head of the Canada-India Business Council. <\/p>\n
The world's most populated democracy has been growing in the shadows of fellow Asian giant China and other regional powers. But with India investing billions of dollars a year in infrastructure, the country is expected to jump to become a top five aerospace country by 2020. <\/p>\n
\"I think there is a real opportunity for us,\" council president Rana Sarkar said in an interview from Toronto. <\/p>\n
\"They're not going to go with one supplier, they're going to go with a syndicate of suppliers and it's for us to be in that mix is an important thing.\" <\/p>\n
Canadas aerospace and space sectors generate annual revenues of over $22 billion and employ about 80,000 Canadians in more than 400 firms across the country. Companies such as Bombardier (TSX:BBD-B.TO - News) and CAE Inc. (TSX:CAE.TO - News), along with engineering and construction firms are already pushing to take advantage of the growing demand for new aircraft, pilot training and airport construction. <\/p>\n
But more potential remains untapped. <\/p>\n
\"In virtually every sector in the aviation business, this is sort of like the 1950s in North America. You're starting to see just an arithmetic growth,\" he said. <\/p>\n
The opportunity could total $1 trillion. And even though Canada's share will be small, it's still significant compared to where Canada's sector has been historically, Sarkar said. <\/p>\n
Canadian exports to India increased by 29 per cent last year to nearly $2.6 billion, with aircraft and spacecraft being the fourth-largest category accounting for almost nine per cent of total exports. Overall bilateral trade totalled $5.1 billion but is targeted to reach $15 billion by 2015. <\/p>\n<\/p>\n
See the article here: <\/p>\n
India presents growing opportunity for Canada's aerospace sector: trade advocate<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" By Ross Marowits, The Canadian Press MONTREAL - Canada's aerospace sector can create jobs at home by taking advantage of India's modernization and recent moves to liberalize its foreign ownership restrictions, says the head of the Canada-India Business Council. The world's most populated democracy has been growing in the shadows of fellow Asian giant China and other regional powers. But with India investing billions of dollars a year in infrastructure, the country is expected to jump to become a top five aerospace country by 2020 Continue reading