Canada
(Source : High Commission of India, Ontario)

Products with Export Potential for India

HS Code 87 : Motor Vehicles, Trailers, Bicycles, Motorcycles and Other Similar Vehicles

For the last 5 years, Canada import market for the Motor Vehicles, Trailers, Bicycles, Motorcycles and Other Similar Vehicles topped the import charts. In April-March 2018, overall automobile exports increased by 16.12 percent. Two and Three Wheelers Segments registered a growth of 20.29 percent and 40.13 percent respectively, while Passenger Vehicles and Commercial Vehicles declined by (-)1.51 percent and (-) 10.53 percent respectively in April-March 2018 over the same period last year. Motorcycles production and assemblage is increasing in India to keep pace with the rapidly growing global market. India must take hold of this opportunity and increase the export percentage of Motor Vehicles, Bicycles, Motorcycles and Other Similar Vehicles.

Significant Trends in Trade and Investment

Canadian Imports from India decreased in comparison to previous month of Apr 2018. The major product to see imports fall in May was motor vehicles and parts, which is the top import product from India.

Canadian Imports from India decreased owing to the decrease in the imports of motor vehicles and parts. Although, it stands as top import product from India with a growth of 11.65%. Remaining top 9 products were in the range from 3% to 9%.

EDC forges alliances with ECAs in India to increase opportunities for Canadian companies

Export Development Canada (EDC) announced the signing of new Memorandum of Understanding (MOU) that will allow for a more coordinated approach to future joint transactions that will benefit Canadian exporters. The main objective of the MOU is to enhance cooperation between EDC and the Export Credit Guarantee Corporation of India (ECGC). As one of the world`s most progressive export credit agencies (ECA), EDC often receives requests to work in partnership with other ECAs on large multinational financial transactions. The new agreement will improve the efficiency of these joint transactions, form stronger ties between the ECAs, and give EDC a better picture of potential opportunities in a broad range of markets.

Source: India Canada Biz Digest, Ottawa

Tunisia
(Source : Embassy of India, Tunis)

Trade Data - Annual (US$ million)

                                                                                           (Source: National Institute of Statistics, Tunis)

Status of ongoing major investments by Indian PSU’s / Pvt. Sector in Tunisia and proposed Indian investments in Tunisia

India Tunisia Joint Venture TIFERT worth US$450 million was launched in 2006 in Tunisia for manufacturing Phosphoric Acid. Its production started in 2013. Two Indian companies Coromandel Fertilizers Ltd and the Gujarat State Fertilizers Ltd (GSFC) have 30% shares in the project. To improve production, Tunisian Government is taking several measures to remove hurdles in the smooth running of the plant and supply of rock phosphate to the plant.  

Tunisian–Indian phosphate joint venture, TIFERT is scheduled to hold its next board meeting on 21 September in Tunis to discuss the release of its next bank loan payment scheduled by the end of September.   

Other Projects: Indian companies M/s KEC International Ltd and Jyoti Structures Ltd have a presence in Tunisia for erection of electric transmission lines. An assembly plant of Mahindra pickup trucks is established in Tunisia with a target to produce up to 2500 trucks per year. Indian Auto Company, Mahindra and Mahindra, provides the vehicles as knocked-down kits, to be assembled by the Tunisian company, with full technical support from the Indian company.  Mahindra has further diversified its product portfolio by introducing SUV class vehicles.  M/s TATA Motors commenced assembly of pick-up trucks with Tunisian companies ‘Le Moteur’ and ‘Icar’ in June 2015. TATA’s flagship Tunisian model Tata Xenon has been very popular as 2000 vehicles have been sold in short span of 2 years.  TATA is also exploring possibility to introduce small commercial and heavy vehicle.

Analysis of Investment opportunities in Tunisia

Tunisian Government provides many incentives to promote foreign investment in Tunisia.  About 3353 foreign companies operate in Tunisia in diverse sectors. The Government has primarily encouraged export-oriented FDI in key industrial sectors, such as call centers, electronics, aerospace and aeronautics, automotive parts, and textile/apparel manufacturing. Foreign participation is allowed in the privatization program of state-owned or state-controlled enterprises. This has attracted a significant share of Tunisia’s FDI in recent years. The privatization programme has taken place mainly in telecommunications, banking, insurance, manufacturing, and fuel distribution.  

Launch of new Mahindra passenger car models: The local representative of Mahindra and Mahindra, Zouari Group launched three new SUV class vehicles in the Tunisian market. Mahindra Tunisia, which is present since 2010 has an assembly unit of Mahindra 4x4 pick-up vehicles in Sousse (180Km from Tunis) and is expanding its product range due to its popularity of good-quality-affordable-price vehicles. Mahindra has plans to set up its assembly line for these SUV/KUV Mahindra vehicles in 2020 if the response is good.

Venezuela
(Source : Embassy of India, Caracas)

ONGC Videsh Limited declines Venezuela`s offer for additional stake in oilfield: According to media reports, ONGC Videsh Ltd, has rejected Venezuela`s offer for additional stake in an oilfield as it fears the Latin American nation may use it as an excuse to not pay US$ 449 million of the past dues. State oil firm PDVSA had last year offered a 9% stake in the San Cristobal field to OVL. OVL already holds a 40% stake in the field, which produces around 18,000 barrels of oil per day (bpd). "Cash-strapped PDVSA hasn`t been able to pay our dues and the additional stake may be used to settle the dues. We don`t think that is what we want. We want our dues to be cleared first," the official, who wished not to be identified, said. “OVL, has declined the offer for an additional stake”. The official said that Venezuela has not paid OVL US$ 449 million (about Rs 3,200 crore) of accrued dividend for four years. This dividend pertains to the San Cristobal field, where PDVSA holds the remaining 60% stake. Venezuela, he said, had in November 2016 agreed to pay US$ 537.63 million of dividend due from 2009 to 2013, in installments. In lieu, OVL agreed to help PDVSA arrange US$ 318 million financing for the San Cristobal project. "Though we received a dividend of US$ 56.22 million for 2008, dividends for 2009 to 2013 totaling US$ 537.63 million remained unpaid. The dividend for 2014 and onwards is yet to be declared by the shareholders," it said. OVL and PDVSA through their relevant subsidiaries signed two definitive agreements for facilitating redevelopment of the San Cristobal joint venture project in Venezuela on November 4, 2016. "The agreements provide for a mechanism to liquidate OVL`s outstanding dividends from the San Cristobal project (US$ 537.63 million). So far PDVSA has paid US$ 88.42 million in accordance with the dividend payment agreement signed in November 2016. The balance dividend to be paid is about US$ 449 million," he said. The official said OVL has been pursuing the issue at various levels including with the Petroleum Minister of Venezuela as well as various echelons of PDVSA. The news article further mentioned that in April, the Latin American nation assured commencement of dividend payment shortly.