Canada
(Source : High Commission of India, Ottawa)

Products with Export Potential for India

(HS Code-85) Electrical or Electronic Machinery and Equipment :

These are 4 top products which Canada imports from other countries and India can seize the opportunity. The total market size of electrical machinery in India is anticipated to reach US$ 100 billion by 2022 from US$ 24 billion in 2013. The electrical machinery sector consists of generation, transmission and distribution machinery. In order to become a global force, Indian machinery sector needs to understand these changes and evolve to serve the user industries with the next generation products through integration of equipment with information technology like autonomous haulage or unmanned vehicles equipped with GPS, CCTV cameras, inertial guidance systems, and leverage dispatch route planning and guidance software for functioning.

Details of significant trends : Canada’s total trade with India increased by 17.79 viz-a-viz Jan-May 2018 due to a substantial increase of USD 444 million in exports and a reasonable gain in imports as well.

Analysis : The total trade with India from Jan-May 2018 was USD 2.9 billion. However, in Jan-May 2019, Canada’s global trade is USD 3.4 billion. Both exports and imports are higher in May 2019 in comparison to May 2018.

Globally, Canada’s exports rose 4.6% to a record $53.1 billion in May. Exports of motor vehicles and parts, aircraft and other transportation equipment and parts, and energy products contributed the most to the increase. Year over year, total exports were up 8.6%. In May, non-energy exports rose 4.5%.

Exports of aircraft and other transportation equipment and parts (+33.0% to $2.9 billion)

also contributed to the overall increase. Exports of boats and other transportation equipment almost quadrupled as a result of higher exports of other transportation equipment to Saudi Arabia. Exports of aircraft (+40.2%) also increased in May, primarily because of increased shipments of business jets and commercial aircraft, particularly to the United States.

After falling 16.5% in April, exports of refined petroleum products rose 20.4% in May, mainly due to higher exports of heavy fuel oil to the United States.

Details of significant trends : India stayed at 12th position as the largest market for Canadian imports year to date. For Jan-May 2019, Canada’s total imports from India increased by 4.4% in comparison to Jan-May 2018.

Analysis : The total import figure of Jan-May 2019 is USD 1.8 billion. However, for Jan-May 2018, the figure was USD 1.7 billion. The top products of import from India are Nuclear Reactors, Boilers, Machinery and Mechanical Appliances, Articles of Iron or Steel, Organic Chemicals, Pharmaceutical Products, Motor Vehicles, Trailers, Bicycles, Motorcycles and Other Similar Vehicles, Pearls, Precious Stones or Metals, Mineral Fuels, Mineral Oils, Bituminous Substances and Mineral Waxes, Knitted or Crocheted Clothing and Woven Clothing.

Details of significant trends : Overall Canadian global imports rose 1.0% to $52.3 billion in May following a 1.2% decline in April. Higher imports of aircraft, as well as motor vehicle engines and motor vehicle parts, contributed the most to the overall increase.

Analysis : Canadian imports of aircraft and other transportation equipment and parts rose 14.2% to $2.2 billion. After declining by more than $1 billion in March and April combined, imports of aircraft were up by $433 million in May, primarily due to increased shipments of airliners from the United States and Europe. Imports of motor vehicles and parts increased 1.6% in May to $9.8 billion. As observed in exports of passenger cars and light trucks, imports of motor vehicle engines and motor vehicle parts (+9.2%) rose as a result of increased production in assembly plants.

Details of significant trends : India rose to 10th position as the largest market for Canadian exports year to date. The total exports increased by 27.02% viz-a-viz 2018.

Analysis : The total export figure of Jan-May 2019 is USD 1.6 billion. However, for Jan-May 2018, the figure was USD 1.2 billion. The Top products of export from Canada to India were: Mineral Fuels, Mineral Oils, Bituminous Substances and Mineral Waxes, Pearls, Precious Stones or Metals, Coins and Jewellery, Fertilizers, Ores, Slag and Ash, Edible Vegetables and Certain Roots and Tubers, Pulp of Wood and The Like; Waste and Scrap of Paper or Paperboard, Aircrafts and Spacecrafts, Paper, Paperboard and Articles Made From These Materials, Nuclear Reactors, Boilers, Machinery and Mechanical Appliances, Iron and Steel.

Details of significant trends : Canadian global rose 4.6% to a record $53.1 billion in May 2019, a slump after Dec 2018. Exports to the United States rose 3.7% to a record $39.3 billion in May.

Analysis : Canadian Exports to countries other than the United States rose 7.3% to a record $13.8 billion in May, partly due to an increase in exports to Saudi Arabia (other transportation equipment). Higher exports to Japan (copper, coal), South Korea (metal ores) and the Netherlands (energy products, iron ores) also contributed to the increase. A significant decline in exports to the United Kingdom (gold) partially offset these increases. As a result, Canada`s trade deficit with countries other than the United States narrowed from $5.5 billion in April to $5.2 billion in May.

CDPQ-backed CLP India looks to acquire Morgan Stanley`s wind energy assets in India

ICDPQ-backed CLP India Pvt. Ltd is looking to acquire Continuum Wind Energy from its majority owner Morgan Stanley Infrastructure Partners, the Mint newspaper reported. The report said that Continuum has more than 700 megawatt of operational wind assets and a pipeline of almost 1,700 MW. Most operational assets are located in Maharashtra and Tamil Nadu, apart from Gujarat, Madhya Pradesh and Telangana. CLP India is majority-owned by Hong Kong-headquartered CLP Group. CLP entered India in 2002 and is among the handful offering investors in India`s power sector. It has a portfolio ofnearly 3,000 MW. In September 2018, Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) agreed to take a 40 per cent stake in CLP India for USD 365 million.

(Source : India Canada Biz Digest)

CPPIB partners with Piramal Enterprises to set up India’s first renewables InvIT (Infrastructure Investment Trust)

Piramal Enterprises Ltd said it has signed an agreement with Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB), to co-sponsor India’s first renewable energy focused Infrastructure Investment Trust. The proposed InvIT will have an initial corpus of USD 600 million and the option to scale further, Piramal Enterprises said in a filing to the stock exchanges. CPPIB and PEL will initially allocate USD 360 million and USD 90 million, respectively. The InvIT would seek to acquire up to 1.5 to 2 GW of stable and cash generating renewable assets on a hold-to-maturity basis, with a firm focus on diversification of both asset type as well as off-taker profile. Both PEL and CPPIB will be co-sponsors of the proposed InvIT and hold up to 75 per cent of the units with CPPIB holding up to 60 per cent and Piramal PEL holding 15 per cent.

(Source : India Canada Biz Digest)

Canada’s Fairfax-backed Fairchem Speciality to restructure business in India

Fairchem Speciality Ltd, a Mumbai-listed chemicals maker backed by Canada’s Fairfax Group, is going through a restructuring exercise to sharpen focus on its main businesses. In a multilayered transaction, the speciality chemicals maker plans to merge wholly owned unit Privi Organics India Ltd with itself and create a new subsidiary called Fairchem Organics Ltd. The merger with Privi Organics will bring the company’s aroma chemicals business under one roof, Fairchem Speciality informed stock exchanges. This merged entity will be renamed as Privi Speciality Chemicals Ltd. Fairchem Speciality said the decision to create two niche and focused segments without any business overlap will be prudent to raise capital as the “growth profiles and the capital needs” of these businesses are very different.

(Source : India Canada Biz Digest)

India’s vast economic, social and cultural potential is of great importance to Canada : Senator Ratna Omidvar

On May 15 2019, the High Commissioner of India to Canada Mr. Vikas Swarup visited the Senate Chamber as the guest of Senator Ratna Omidvar. In her remarks, Senator Omidvar outlined the economic and population growth currently underway in India. She also underscored the opportunities both Canada and India can find in one another, particularly as the global economy continues to shift to the sub-continent. “India is one of the world’s fastest growing economies, growing steadily from 4.4 per cent in the 1970s to a staggering 7.1 per cent in this decade, touching services, industry, technology and agriculture. It has attracted more foreign direct investment than China, spurring on a flourishing private sector. New Indian start-ups have received billion-dollar evaluations and many are members of the coveted Unicorn Club.” she added.

(Source : India Canada Biz Digest)

Malta
(Source : High Commission of Malta)

Indian company opens pharma testing lab in Malta:  Another Indian pharmaceutical testing lab, Misom Labs Limited, started operations in Malta after receiving EU GMP license from the Maltese Medicines Authority and started commercial testing of the batches of pharmaceutical products for release to market.

Thailand
(Source : Embassy of India, Bangkok)

Ranong Port to boost trade with India
Bangkok Post 16.08.2019

The Port of Authority of Thailand (PAT) is pressing ahead with the development of Ranong Port as a logistics gateway between Thailand and India as both countries have agreed to promote a new maritime route in the Andaman Sea. PAT director-general Kamolsak Promprayoon said the development of Ranong Port will facilitate a new maritime route between Krishnapatnam Port in India and Ranong Port on the Andaman coast. Lt Jg Kamolsak said the scheme to develop the port will also help materialise several aspects of cooperation under a memorandum of understanding (MoU) signed on Thursdaybetween the two ports.  Under the MoU, travel time between India and Thailand will be reduced from 10 to 15 days to seven. The MoU is part of the government`s policy to boost trade with India, Bangladesh and Sri Lanka under the framework of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec), he said. According to Lt Jg Kamolsak, PAT`s 2018 earnings from exports to Bimstec were worth over 400 billion baht.