December 2015
ICCC Newsletter
Indo-Canada Chamber of Commerce 924 The East Mall, Etobicoke ON M9B 6K1
From the President’s desk It’s a cliché no doubt, but it conveys the message rather succinctly – the proof of the pudding is in the eating. And if the response to our Annual Winter Gala was any indication, it was without doubt a glorious success. I was particularly satisfied by the return of our Chamber’s non-partisan status which was exemplified in the presence of peoples’ representatives from across the broad spectrum of political parties. And, that is not all. The presence of decision-makers and opinion-makers added to the luster of the evening.
Sanjay Makkar
But, at the Indo-Canada Chamber of Commerce, we have never rested on past laurels, and your team of directors is working in unison to ensure that forthcoming India Mission 2016 will be a spectacular success. The Mission will be visiting eight Indian cities in north and west (Agra, Amritsar, New Delhi, Thiruvananthapuram, Kochi, Ahmedabad, Vadodara and Mumbai), and will be spread over two weeks starting from January 4 and concluding on January 16, and will focus on Life Sciences, Pharmaceuticals, Health Sector, Clean Energy, Education, Agro & Food Processing, ICT, Tourism and Smart Cities. I’m confident small and medium business owners will find it worthwhile to participate in the Mission. For registration please contact ICCC at indiamission@iccconline.org or call 416-2240090. I want to take this opportunity to provide a year-end summary of my team’s work. Over the last five months, the new team of ICCC under my leadership has focused on the core mandate and promoted programing that created opportunities for Indo-Canadian businesses and professionals. We reenergized our committees by appointing new members who organized programs that anticipated the needs of our members. Our 60day membership augmentation program that will conclude in the middle of December has been an unprecedented success in the annals of ICCC’s history. Traditionally, new members have been enrolled prior to elections, but this is the first time ever when a focused drive was launched, and it has yielded spectacular results in building both life and regular memberships. We have reached out to the new federal government and I had a one-to-one meeting with Minister Navdeep Bains within a week of his assuming charge of the Innovation, Science and Economic Development ministry. Then, Hon. Bardish Chagger, Minister of Small Business and Tourism participated in our annual gala. We have engaged our sponsors in evolving programming that would be mutually beneficial to them and our members. In the next six months, we are going to focus on our core mandate more vigorously and in doing so maintain strictly non-partisan approach. Thank you. Sanjay Makkar
Insight Differentiating Between Emerging Markets: Access Areas of New Growth and Development By Bhim D. Asdhir, President & CEO Excel Funds When it comes to emerging markets, it is not a question as to whether or not you should invest, but more so a debate on how to go about accessing these markets and which sectors to allocate capital. The latter is centered on the fact that emerging market nations are not homogeneous. Investors have to recognize that the countries within the emerging market universe each have unique characteristics, growth drivers, opportunities, and risks. For instance, markets in Latin America and Africa are heavily dependent on the performance of commodities such as base metals and oil, while those in Asia are more diversified and rely on the performance of many different sectors such as technology, services and banking. Therefore, if oil prices are low and demand for base metals is weak, commodity dependent countries will not perform well. On the other hand, the reverse is true for countries that import oil, for example, at much lower prices. Economic and political conditions in emerging markets can also have an impact of how they perform. Some countries may have large current account deficits, high inflation and uncertain political conditions, while conditions in others are exactly the opposite. Therefore, it is important to invest in actively managed funds that target countries and sectors which have the best risk/reward characteristics – like the Excel Emerging Markets Fund managed by Christine Tan, Senior Portfolio Manager, Excel Investment Counsel Inc. These managers are able to ‘separate the wheat from the chaff’ in emerging markets. They focus on identifying multi-year secular themes in selected sectors which have higher growth potential and pricing power. Within these themes, they then identify the best companies in each sector which have solid balance sheets and experienced management. “In effect, while emerging markets as a whole are structurally and fundamentally sound investments, some countries and sectors offer better opportunities than others. The key is to identify those countries and sectors,” Ms. Tan maintains. Of current interest, technology, e-commerce, healthcare and services are among the new investable sectors that are poised for growth leading emerging market nations such as China and India. 1
Although emerging markets, similar to their developed counterparts, have periodically experienced bouts of volatility and uncertainty for a variety of different reasons, active portfolio managers who recognize the differentiated nature of emerging markets are better to positioned to provide consistent returns to their investors over the long-term. (Disclaimer: Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.)
Economic trends Wynne wins in China: Ontario companies and educational institutions inked $1.7 billion in new contracts with China during Premier Kathleen Wynne’s trade mission in November. Among the deals was a $210 million accord to import Canadian food and nutritional products to China by Wing On New Group Canada Inc. In a separate agreement worth $50 million, the Markham company will also establish an exhibition centre in China to promote its products and import fresh Ontario produce. Kinetica, a College Street firm, signed a MoU with Shanghai Lead Dynamic Engineering to sell vibration mitigation technology to engineers, architects, and property owners. That could lead to $50 million a year in sales. A new educational partnership between North York’s Canadian International Academy and Shanghai United Media Group is worth $25 million. Maple Syrup production hit: A late spring caused Canada's maple syrup production to fall for the second consecutive year in 2015 and El Nino is threatening to put a dent in next spring's output as well. The warmer El Nino weather is expected to have an impact on a number of commodities, including maple sap, said Sylvain Charlebois, professor of distribution and food policy at the University of Guelph's Food Institute. The impact would hit Quebec, the world's dominant maple syrup producer, along with Ontario, New Brunswick, Nova Scotia and syrup-producing American states like Vermont and New York. Canada Post – decline continues: Canada Post says it expects a 20% jump in parcel mail this holiday season — but that surge in activity won’t be enough to offset the ongoing and precipitous decline in letter mail. The postal service said that the erosion in letter mail volumes accelerated in the third quarter with a 6.1% drop, continuing a trend that has been underway since 2006. Parcel volumes increased 8.1% but brought in only $337million — less than half the $750-million in revenue generated by letter mail. “The Internet is doing two things to us: it’s taking away mail and it’s bringing in parcels,” said Canada Post spokesman John Hamilton. Saskatchewan uranium for India: In early December, the first shipment of Saskatchewan uranium under the Canada-India Nuclear Agreement was shipped to India. Terming it as an historical moment, Saskatchewan Premier Brad Wall said, “This export 2
is particularly welcome for uranium workers nearly half of whom are First Nations and Metis.” The uranium shipment from Saskatoon-based Cameco Corporation arrived in India today. It consists of product mined and milled at Cameco’s McArthur River and Key Lake operations in northern Saskatchewan. The shipment is the first under a fiveyear contract to supply 7.1 million pounds of uranium concentrate that Cameco subsidiary Cameco Inc. signed with the Department of Atomic Energy of India in April of this year. The premier witnessed that signing in Ottawa during a state visit to Canada by Indian Prime Minister Narendra Modi.
November 2015 Programs & Events November 04, 2015 How to do Business with the Government
ICCC team with Kevin Fox of Ontario (2nd from right) and Nicolas Falcone of City of Toronto (5th from right) The Small and Medium Enterprise (SME) committee of the Indo-Canada Chamber of Commerce (ICCC) organized a seminar on ‘How to do Business with Government’. The speakers at the seminar were Kevin Fox from the province of Ontario, and Nicolas Falcone
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from the City of Toronto. The seminar was a major draw with unprecedented number of members and guests participating in it. Speaking on the occasion, Sanjay Makkar, President, Indo-Canada Chamber of Commerce (ICCC) said that the focus of the Small and Medium Enterprise (SME) committee has been to offer programs that are relevant to the members of the Chamber. He emphasized that a large number of the Chamber’s members are small business owners or professionals who have their own practice; therefore, a program with such a theme would be of great benefit. November 05, 2015 Focus on Future: Conserve Energy
From LtoR: Pappur Shankar, Nani Pradeepan, S K Sharma, Sanjay Makkar, Prabhakar Rayaapa & Dharma P Jain In the 21st century, energy has come to signify multiple concepts – development, growth, sustainability, and cost efficiencies. A necessary ingredient in every human endeavor, energy is necessary for development and growth, but as the 20th century showed us, unbridled use of energy can leave a trail of devastation for us and especially for our future generations. In an effort to create awareness about the need for energy conservation, the Energy Committee of the Indo-Canada Chamber of Commerce (ICCC) organized a workshop on Energy Conservation – Conventional & Renewable. Surinder Sharma and Nani Pradeepan, both energy sector veterans, and members of ICCC’s Energy Committee were the key presenters at the workshop.
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November 12, 2015 Networking with EDC
From L to R: Pappur Shankar, Abu Becker, Arun Srivastava, Marti Anne Falcone, Navi Dhami, Ross Richard, Sumeet Malik, Sanjay Makkar & Raza Hasan Export Development Canada (EDC) is Canada’s nodal agency for all aspects of export promotion, and it helps Canadian entrepreneurs at every stage of the export process – right from the initial steps of exploring the global markets to arranging for finances to commence global trade. Over the last decade, as it has expanded its scope of operations, EDC has built a formidable alliance with the Indo-Canada Chamber of Commerce (ICCC)
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in promoting Canada-India trade, especially amongst Canadian small and medium businesses. November 12, 2015 Your key to a world of opportunities CPA as a career
From L to R: Jagdish Bajaj, Shivani Sharma Gupta, Sanjay Makkar, Bryan Jacobs, Carmen Jacques, Rohit Prajapati, Jatinder Bawa, Manish Agarwal, Ginni Sethi & Pappur Shankar In a world where competition is a norm in any career path, it has become imperative to acquire an extra edge in professional training to make a mark and to succeed. The Chartered Professional Accountant (CPA) is one such qualification that can, and does open up a world of opportunities in Canada. The Indo Canada Chamber of Commerce (ICCC) organised an interactive session on CPA as a career option on November 18 at ICCC headquarters in Toronto.
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November 21, 2015 Manish Tiwari visits ICCC Former Indian Minister for Information and Broadcasting evinces keen interest in Chamber's work
Figure 1ICCC team led by President Sanjay Makkar welcoming Mr. Manish Tiwari, former Indian federal minister Former Indian Minister for Information and Broadcasting Manish Tiwari visited the Indo-Canada Chamber of Commerce (ICCC)’s headquarters last week to confabulate with the Chamber’s leadership about the future direction of the Canada-India bilateral relations. Mr. Sanjay Makkar, President, ICCC, welcomed Mr. Tiwari to the Chamber and briefed him of the new direction the Chamber has taken with a focus on creating opportunities for Indo- Canadians small businesses. The ICCC President said the Chamber was committed to forging more meaningful trade relations between Canada and India, and would be in the forefront of advocating for a swifter conclusion on the negotiations on CEPA. Mr. Makkar then cited the recent report published by the Centre for International Policy Studies of the University of Ottawa titled ‘Canada and the World – New Direction for Canada’s International Policy’
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November 25, 2015 ASSOCHAM-ICCC collaboration in education sector
ICCC team and Assocham teams with participants at the session Education has emerged as one of the biggest contributors to economic growth globally. Rise in literacy is an important indicator of a growing economy. The link between education and economic growth is spurring the demand for quality education, and leading to a spurt in globalization of education both in terms of students going to foreign destination to access better educational facilities and educational institutions becoming transnational service providers. In the Canada-India landscape, the education sector is comprehensively developed in both the Canadian and the Indian economy. In Canada, the GDP in the Educational Services sector increased from $51.6b in 2002 to $63.2b in 2011. The increase in GDP reported between 2002 and 2011 represented a compound annual rate of 2.3%.
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27 November 2015 Winter Gala 2015
ICCC Board of Directors with Ontario Premier Kathleen Wynne & Amrit Mangat, MPP A veritable who’s who of the Canadian mainstream from the corporate world, and the government made a beeline to Brampton’s Pearson Convention Centre Friday evening as the Indo-Canada Chamber of Commerce (ICCC) celebrated its Annual Winter Gala. In attendance were decision makers from all levels of the government including Hon. Bardish Chagger, Canada’s Minister for Small Business and Tourism; His Excellency, Vishnu Prakash, High Commissioner of India in Ottawa; Hon. Kathleen Wynne, Premier of Ontario; Hon. Patrick Brown, Leader of the Progressive Conservative Party of Canada; Her Worship Bonnie Crombie, Mayor of Mississauga; Her Worship Linda Jeffery, Mayor of Brampton; Hon. Michael Chan, Ontario Minister of citizenship, immigration and international trade; several federal MPs, Provincial MPPs, and Councillors from Mississauga and Brampton. It was an evening to remember, as the VIPs of the Indo-Canadian community, adorning traditional colourful attire and formal business dresses mingled at the venue to enjoy 9
sumptuous cuisines from different corners of India, and entertainment that depicted the wonder that is India. The theme of the Annual Winter Gala 2015 was Travel. Explore. Discover. The dĂŠcor of the venue was in consonance with the theme. The guests included senior executives from sectors such as financial, legal, banking, travel and tourism, and manufacturing. Community leaders, veteran members of the Chamber, and several past presidents and past directors of the Chamber also participated in the gala with unprecedented enthusiasm.
Minister Bardish Chagger with Sanjay Makkar, Vishnu Prakash, Arun Srivastava
Mayors of Mississauga & Brampton with ICCC President
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Upcoming Events Open house – V 16 December 2015 India Mission 2016 – 4 January to 16 January 2016 For details please see www.iccconline.org For advertisement in the 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 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
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Suggestions Your board is committed to transform ICCC into a member-friendly, open, transparent, and truly a business organization working to achieve its mission and vision. The board is here to steer the august body in the direction provided by articles and bylaws 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. Follow us on social media: Facebook LinkedIn Twitter Google+ Flickr YouTube Disclaimer The above material is compiled by Chamber and is being used solely for its membership. Any unauthorized use of this newsletter and its contents are strictly prohibited.
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