The leaders of IL&FS group companies met the Contingent of companies from Canada through a conference Co-organized by Export Development Canada and IL&FS Financial Services to enhance the co-operation between IL&FS Group and Canada, in the infrastructure sector

Canada and India share a robust commercial partnership. Over 600 Canadian companies are currently active in Mumbai and a number of these companies have innovative services and products that are applicable to India's growth agenda.

Export Development Canada (EDC), Canada's export credit agency, is mandated to support and develop trade between Canada and other countries. EDC's products and services include insurance, financing for Canadian companies and for their foreign customers, bond and guarantee solutions, as well as information on global opportunities for Canada

EDC provides financial services for companies that buy from Canadian companies, directly or through their corporate value chains. This financing is used for capex and/ or project finance requirements, either through bilateral or syndicated corporate facilities

The Government of Canada and EDC view India as a priority market and work closely with partners, trade associations and Canadian exporters to capitalize on the business opportunities available in both the public and private sectors. Through its representations in New Delhi and Mumbai, EDC provides support to Canadian companies planning on or currently doing business in India

It was envisaged that IL&FS Group, present across various infrastructure segments such as Surface Transportation, Power, Water, Environment, Townships and Technologies, could seek a mutually beneficial partnership with Canadian entities, to harness the potential of the Canadian market and enhance business relationships between the two countries

IL&FS Financial Services Ltd (IFIN) has entered into a Memorandum of Understanding (MOU) with EDC in August 2015, to enhance the co­operation between IL&FS Group and Canada, in the infrastructure sector, The MOU covers sharing of potential opportunities across India and Canada, facilitating introductions and meetings as well as potential of financial support by EDC to IL&FS Group in respect of procurement from Canada

As an extension of the MOU, in December 2015, IFIN organised a conference inviting 15 Canadian companies ranging from solar, sanitation solutions, waste water treatment, construction, architecture and technical consulting. The main objective of this conference was to improve interaction between IL&FS Group entities and the Canadian companies. Trade Commissioners from the Canadian High Commission – New Delhi, Canadian High Commission – Sri Lanka and Bureau de Quebec as well as the Consulate General of Canada in Mumbai, also attended this event

The aim of this meet was to encourage partnerships between the Canadian Companies and IL&FS Group. EDC also sought to extend finance for any potential tie­ups that would occur from this meet

The event began with an opening address by Mr Ramesh C Bawa, Managing Director and CEO of IFIN and Mr Nathan Andrew Nelson, Chief Representative, EDC, welcoming the delegates, and was followed by lunch

Each of the Canadian delegates then made a short presentation on their Companies, highlighting their areas of work and identifying joint initiatives with the IL&FS Group. There was an interactive session at the end of each presentation, which enabled the participants to better understand the various business offerings. The event brought out many innovative concepts and initiatives undertaken by the Canadian companies as well as areas of collaboration

It was brought out that IL&FS had already engaged with many of the Companies, including Bombardier Transportation, Clearford Systems, Forrec Group, IBI Group and International Road Dynamics, for joint initiatives, in the past. New partnership opportunities were also showcased and identified between the two delegations Following the meet, there has been a continued interaction between the Canadian companies and IL&FS on certain specific opportunities and the same continues to be discussed and evaluated

"Following the meet there has been an ongoing interaction between the Canadian companies and IL&FS on certain specific opportunities and the same continues to be discussed and evaluated"

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