Business Other News 01 Feb 2016 India companies eye ...

India companies eye oil in Canada

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Feb 1, 2016, 1:02 am IST
Updated Feb 1, 2016, 1:02 am IST
(Representational image)
 (Representational image)

New Delhi: After a fall in commodity prices, Indian companies are scouting for cheap oil and gas and mining assets in Canada, according to Canada-India Business Council (C-IBC) vice chairman Kam Rathee.

C-IBC and Federation of Indian Mineral Industries (FIMI) are going to sign an MoU on Monday for joint co-operation in the mining sector.

“Canada has mining assets in Northern Ontario and British Columbia, while Alberta is the  mecca of oil and gas in Canada,” Mr Rathee told this newspaper.  Mr Rathee is a part of 100-member business delegation which is accompanying Ontario Premier Kathleen Wynne who is on a visit to India.

Eyeing huge business and marketing opportunities in India, C-IBC has decided to open an office in India too. “The giant Canada is waking up for India,” said Mr Rathee. He gave some of this credit to recent visit of Prime Minister Narendra Modi to Canada.

He said that Canada also looking to encourage more Indian students to come there for education. “Education cost in Canada is less than in Australia and the UK. The number of students visiting Canada has increased from 12,000 to 26,000,” he said.

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