BANGALORE, India—Export Development Canada (EDC) has provided US$2.5 million in financing to Manjushree Technopack Ltd. (Manjushree) to facilitate the purchase of equipment from Husky Injection Moulding in Bolton, Ont.
“Manjushree is a dynamic company that is working with major brands from around the world, and EDC hopes that this first financing transaction with them can lead to more business for Canadian companies in the future,” said Pierre Gignac, senior vice-president, Insurance, EDC.
Two-way trade between Canadian and India reached C$4.2 billion in 2010, up from $3.6 billion in 2006, much of which was concentrated in pulses, jewelry, textiles, pulp and paper and minerals.
EDC has permanent representation in Mumbai and New Delhi and in 2010 facilitated more than $1.75 billion in exports by 320 Canadian companies.
EDC is Canada’s export credit agency, and is used by more than 8,200 Canadian companies and their global customers in 200 markets worldwide.