Wynne, Ont. business leaders return from Indian trade mission with $240M in deals
65 new agreements to create more than 150 jobs across province
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TORONTO—Ontario Premier Kathleen has returned from her inaugural trade mission to India, carrying with her a handful of governmental Memorandums of Understanding (MOUs) as well as more than 60 private sector deals brokered by attending Ontario business leaders.
“In order to keep our economy strong and prosperous, we need to continue looking for opportunities to expand our trade with new and emerging markets,” Wynne said. “This mission has strengthened Ontario’s relationships with India, and created new opportunities for Ontario businesses.”
The 65 agreements are valued at more than $240 million and will create more than 150 jobs across Ontario. Brad Duguid, Ontario’s minister of economic development called the mission to New Delhi, Chandigarh, Hyderabad and Mumbair a “tremendous success.”
Among the companies striking deals in the fast-growing Asian country were Toronto’s eCAMION, in partnership with Ryerson University’s Centre for Urban Energy, which will bring the first community energy storage system to India. Process Research ORTECH, a Mississauga-based technology incubator also signed a $10 million MOU to form a strategic partnership with Eureka Forbes, a leading Indian health and hygiene company. A range of other businesses—from academic institutions to wastewater firms—also secured agreements.
Meanwhile, Ontario signed MOUs with five Indian states, including Maharashtra, which it says will strengthen the governments’ connections in key commercial areas, including urban infrastructure, information and communications technology, advanced manufacturing, agriculture and education.
The Indian trade mission follows Wynne’s trip to China last Nov. that pulled in $2.5 billion in new business, and is expected to create 1,700 jobs across the province.