August 2015
ICCC Newsletter
Indo-Canada Chamber of Commerce 924 The East Mall, Etobicoke ON M9B 6K1
ICCC Newsletter August 2015 From the President’s desk Summer is a time to take a break, recharge ourselves and prepare for a new beginning. However, for the new team that now helms the Indo-Canada Chamber of Commerce (ICCC), summer has been business as usual. No break for us. My colleagues on the board have been geared to make 2015-16 a meaningful year for the members and stakeholders of our august organization. And in pursuance of this objective, we have appointed a new Sanjay Makkar director – Shivani Sharma-Gupta, who will be looking after our events portfolio, and will be working in tandem with Jagdish Bajaj, Vice President, Programs and Events, to make our events meaningful. Shivani has tremendous experience in events planning. In addition, we have also created a brand new portfolio of Tourism and Hospitality, and my colleague Ajay Tandon, has been given an additional charge of this portfolio besides Affinity Programs. Ajay, too, is a veteran in the travel and hospitality sector. In another major initiative, we have appointed new committee chairs to the various ICCC committees. While I don’t believing in blowing my own trumpet, in all modesty, I would like to point out that never before have committee heads been appointed within a month of the new board taking charge of the Chamber’s affairs. The speed with which we have put in place the basic structure of the Chamber is to ensure that we hit the ground running in fulfilling ICCC’s mandate in full measure. We want to focus on the small entrepreneur and the professional and help him / her by creating concrete opportunities. Our committee chairs will be our pivot in strategizing plans that will help us in achieving these goals. See the announcement here: New Appointments at ICCC When I took charge of our beloved Chamber as its President, I had pledged to provide a new thrust to the operations of the Chamber and to ensure that the institution refocuses on its core values. I am acutely aware that this onerous task cannot be completed without the help and support of our members and stakeholders. I seek your support. I want to hear from you. Write to me at president@iccconline.org; let’s rebuild this Chamber and take it to where it rightfully belongs. Your truly Sanjay 1|Page
Article
“Best is yet to come…” Bhim D. Asdhir of Excel Funds discusses investing in Emerging Markets “To invest in emerging markets, you have to be on the ground in those countries, and we did that early on. And we’ve partnered with the ‘who’s who’ of sub-advisors in emerging markets,” Bhim D. Asdhir shares his vision of the Emerging Markets and attributes his company’s success to the compelling story told by numbers, and the fact that he had the conviction to follow them where ever it led him despite the fact that everyone told him he was wrong. Today, 20 years later he is an industry icon, a pioneer, and the authority on Emerging Markets. Using the strength of the combined experience of premium on-the-ground subadvisors like Amundi (the PIMCO of Europe), Birla Sun Life, Barings Asset Management just to name a few, Excel Funds has achieved sustained above-average performance. Excel Funds uses well-developed proprietary models for asset allocation and portfolio holdings to obtain higher performance results. The best is yet to come! ..... Read more from him and his successful India story (link to our website for Wealth Professional Magazine Interview) Bhim Asdhir of Excel Funds
Economic trends Jobs, income and the loonie: The Conference Board of Canada’s July 2015 report predicts trouble on three key fronts: Jobs, pay and the Canadian currency. Unemployment is forecast to inch up – from 6.8 per cent at present to 7 per cent later in 2015 Real disposable income will be “slightly better,” rising by 2.3 per cent, given soft inflation, the federal government’s new child care benefits scheme and income-splitting. Next year, however, real disposable income gains are forecast to slow to 1.5 per cent as oil prices rise. The Conference Board did not weigh in with an actual projection for the loonie, but it did note that the lower currency should help exports “manage some decent growth.” While a TD Bank projection states, “A softer commodity price outlook and a larger interest-rate differential versus the U.S. also spell more bad news ahead for the loonie,” the Conference Board, forecast that a lower currency would help Canada’s real trade balance will see marked gains.
Trans-Pacific Partnership – Talks fail: The world economy could be $300 billion poorer after the failure of the latest Trans-Pacific Partnership (TPP) talks in Hawaii. With time running out to salvage a deal, the U.S.-led trade pact risks becoming stalled indefinitely, handing the initiative to China’s rival grouping (Shanghai Cooperation Council) and reducing the prospect of much-needed productivity gains. Hopes of a breakthrough were high when negotiators from the 12 TPP nations met late July in Hawaii to seek agreement after five years of talks. Comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam, the grouping encompasses 40 percent of world gross domestic product (GDP) and a quarter of global exports, with a successful TPP potentially representing the world’s biggest trade accord in more than a decade. The Hawaii talks reportedly stalled over a range of issues, including auto, dairy and sugar exports, along with a proposed monopoly period for next-generation drugs. After claiming earlier that a deal was “98 percent complete,” Australia’s Trade Minister Andrew Robb blamed the United States, Japan, Canada and Mexico for frustrating a final agreement.
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July 2015 ACTIVITIES July 21, 2015 Go Global India Workshop Mr. Sanjay Makkar, president ICCC participated in ‘Go Global India’ workshop. International Trade Minister Ed Fast, was the keynote speaker at the workshop. In a discussion with president Makkar, Minister Fast briefed regarding the ongoing CEPA negotiations with India. Canada has concluded free trade agreements with 38 countries and negotiations with India are in its final stage. The Government of Canada is committed to providing Canadian businesses, especially small and medium sized enterprises, with the tools and the support to allow them to realize their full export potential. July 22, 2015 Meeting with Mayor Bonnie Crombie
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ICCC President Mr. Makkar met Mayor Bonnie Crombie with other board members. Mr. Makkar expressed confidence that ICCC will succeed in channelizing synergies between the Chamber and Mississauga, especially on areas of common business interest. Emphasizing the need to tap the burgeoning growth of Mississauga-based Indo-Canadian small businesses, he said, the Chamber’s India Missions have become a catalyst for local businesses to expand their horizons and forge linkages with small entrepreneurs in India. The board members who were present at the interaction included Mr. Sanjay Makkar, President, ICCC; Mr. Jagdish Bajaj, Vice President, Programs & Events; Mr. Arun Srivastava, Vice President, Finance & Sponsorship; Mr. Ajay Tandon, Director, Affinity; Mr. Kanwar Dhanjal, Director, SME & Trade; Mr. Abu Becker, Director, Membership; Mr. Pappur Shankar, Director, Mining and Energy. July 23, 2015 17th Annual Golf Classic The team led by Ajit Someshwar, the former President of Indo-Canada Chamber of Commerce (ICCC) and the national convenor of the Canada-India Foundation (CIF), won the ICCC 17th Annual Golf Classic held the Piper Heath Golf Club in Hornby, ON, on Thursday, July 23, 2014. Sanjay Makkar, President, ICCC, while presenting Someshwar and his team with a rotating trophy, acknowledged the dedicated hard work put in by ICCC’s Golf Committee, and thanked the enthusiastic band of 152 golfers who participated in the tourney. The Golf Committee comprises of Anil Shah (Chair), Rahul Mehta, Pradeep Sood, Tavinder Malhotra and Vikram Dua.
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July 29, 2015 Volunteer Appreciation Dinner
Volunteers with ICCC board members The Indo-Canada Chamber of Commerce (ICCC) felicitated its volunteers at a Volunteers’ Night on July 29th 2015 at ICCC headquarters in Toronto. The event was attended by over 30 volunteers and the board of directors of the Chamber. The ICCC is privileged to have always had unstinting support of a legion of volunteers who have helped accomplish a large part of the Chamber’s mandate.
“Volunteers are the backbone of ICCC and
volunteering is a big tradition in Canada, and we at the Chamber have adopted it since the Chamber’s inception in 1977,” Sanjay Makkar, President, ICCC said during his welcome remarks.
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Tender notice
1
Lease of helicopter tender- India
www.pawanhans.co.in / www.tenderwizard.com/PAWANHANS 2
Global tender
Miniature depth logger (quantity -06 set) CTD data logger (quantity -02 set)
http://www.drdo.org & http://www.tender.gov.in 3
Tender for coal bunker level monitoring system – strain gauge type RFQ No. ILN0000245
www.bheledn.com , www.bhel.com, www.tender.gov.in
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UPCOMING EVENTS Let's Talk Money-BDC – 10 September 2015 For details please see www.iccconline.org ICCC in news http://southasiandaily.com/community/mississauga-mayor-crombie-keen-to-expand-tieswith-india/
FOR ADVERTISEMENT IN NEWSLETTER Please contact Mr. Pawan Chankotra at iccc@iccconline.org, or by calling 416-224-0090 BECOME A MEMBER Membership is open to any person who is in agreement with the objectives of the IndoCanada Chamber of Commerce. The present membership represents a wide range of industries and professions. The benefits of joining the ICCC include:
Professional and personal development through business and social networking Exposure to business and professional opportunities in Canada, India and around the world Tickets to events at discounted member rates Invitations to selected free business programs An annual magazine Annual membership directory Opportunity to serve on various committees and be elected to the Board of Directors Benefits through the Chamber's Affinity Program
To join ICCC as member please click here
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Know your Organization Indo-Canada Chamber of Commerce is a 38-year-old organization with twin objectives of fostering bilateral trade between Canada and India and creating entrepreneurial and professional opportunities for Indo-Canadians. It is run by an elected board with the help of various committees involving member. To know more about your organization, please visit: www.iccconline.org SUGGESTIONS Your board is committed to make this esteemed organization member friendly, open, transparent, and truly a business organization working to achieve its mission and vision. Board is considering of: i) Publishing achievements of members in the upcoming issues of ICCC newsletter. Therefore, members are advised to send their achievements such as new position, additional qualification, awards etc. at iccc@iccconline.org. ii) Publishing articles on different topics involving trade, commerce, tax etc. Interested writers can send their articles (500 words) at iccc@iccconline.org iii) Starting blogs on Chamber's website. Send your resumes and subjects you wish to write a blog. iv) Constituting a newsletter committee. Those who have flare of writing, designing and passionate about this, send in their resumes at iccc@iccconline.org Board is there to steer this august body in the direction provided by articles and by-laws and ensuring that interest of various stakeholders is protected. Board invites your suggestions and opinions regarding future events, newsletter content, and ask you to get engaged more and more and participate in Chamber events. You are the true ambassador of Chamber and your board is working for you in. Please feel free in contacting any board member. Please feel free in sending your suggestions and recommendations at: president@iccconline.org or iccc@iccconline.org.
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