Canadian Int’l Trade Minister Ed Fast Encourages Domestic Auto Industry to Enter India

2011-12-12

During the visit of the largest Canadian automotive spare parts manufacturer in India— Magna International Inc. located in Pune days ago, Canadian Int’l Trade Minister Ed Fast said that the Indian car market is growing fast and the increasing productivity in India and the emergence of bourgeoisie are favourable to the development of Indian car manufacturing industry. Therefore, the Canadian car related industry should grasp the opportunity and establish strategic alliances with India to expand its market in India. The car manufacturing industry is so far the major driving force of Indian job opportunities and economic growth. As estimated, the production of Indian car industry is about CAD66 billion and the employees in the industry are about 800 thousand persons, representing 6% of the total production in India.