GTA Team Builds Economic Links To India
India Trip Puts Toronto Area On the Map
for Fast Growing Indian Companies

Toronto ON April 18th, 2005 – The Greater Toronto Marketing Alliance (GTMA) has just completed the first phase of an ongoing outreach program designed to capture mindshare and investments from key players in the fast growing Indian economy.  The two-week, 18 member India Investment Attraction Mission, led by Mississauga Mayor Hazel McCallion and completed in February, has generated considerable interest among Indian businesses and corporations considering investment abroad.  The group has now formed as the “GTA India Committee” and is now planning a follow-up phase of activity including hosting prospective Indian investors in Toronto as well as pursuing further meetings in India with business leaders in the fast paced growth sectors of the IT, Communications and Business Process Outsourcing.

“Over 14 days, the GTMA reached out to more than 600 business leaders and other contacts in 5 cities  including New Delhi, Bangalore, Chennai, Hyderabad, Mumbai,  to generate greater awareness of the benefits of investing in the GTA, “said Karen Campbell, President of the GTMA.  “The GTA has and continues to be an attractive place for foreign investment by Indian firms as they seek to strengthen and expand their business operations in the global market.”

Internationally renowned financial services firm, Goldman Sachs has predicted that India as one of the fastest growing economies in the world today will become the third largest economy in the world within the next 30 years. The report predicts that by the year 2050 China, the U.S. and India combined will account for more economic activity that the next 10 economies combined.  The report highlights significant prospects for greater growth in the software, IT services and business process outsourcing sectors of the Indian economy.

“India is on the dawn of a new age of economic growth and it is important for the Toronto area to build the ties now to take advantage of that growth and make the GTA a focus for Indian business investments abroad,” said George Fierheller, Chairman Emeritus of the GTMA.

“The connections we have made with CEOs and business leaders in India will be strengthened in the coming year with plans for more outreach including visits to the Toronto area by Indian business leaders and a second round of meetings with prospects in India in 2006” explained  John Jung, Vice President of International Marketing for the GTMA. 

Unlike many previous business missions to India, the GTMA’s efforts are focused on attracting Indian investment dollars to Canada and not the more traditional work done to sell Canadian products and services to India itself.  The group was also composed of a balance of local government and private sector participants whose primary goals were to foster investment leads and sales opportunities from Indian business.

Indian companies who have already created a presence in the GTA include Tata (TCS), Satyam, Polaris, Cognizant and Infosys.  Their interest in the GTA was focused around some primary strategic business decisions such as proximity to the large US marketplace and the advantages of near shore operations for their company’s plans to service that market, as well as the significant business opportunities available in the Canadian financial services sector located largely within the GTA.  This track record of investment, availability of important business support services and the natural economic advantages available to businesses locating in the Toronto region are all key themes being advocated by GTA India Committee members.

“We think the GTA holds many inherent benefits for Indian companies focused on North America,” said Hazel McCallion, Mayor of Mississauga and team leader for the GTA’s recent mission to India..  “We have made the business leaders aware of the fact that we will turn cartwheels to help them invest in the GTA and we are going to continue to push hard for their investment dollars and put the GTA front and centre in the growing global competition for Indian foreign investment spending.”

The new GTA India Committee, led by the GTMA includes participants from the Rotman School of Management, Munk Centre for International Studies at the University of Toronto, Martel Commercial Real Estate, Investors Group, National Public Relations, Octaneware Software, Four Halls Inc, Green & Spiegel, Gardiner Roberts, Satyam, and the cities of Toronto, Mississauga and the Town of Markham. New members are welcome. The new group’s plans for continued outreach based on the first exploratory mission include direct follow-up on investment leads created from the trip, facilitation of visits to the GTA by leading Indian business executives and building a prominent role for the GTA within the important NASSCOM 2006 conference which draws together the leading IT, Software and Services executives from around India every year in Mumbai.

The Greater Toronto Marketing Alliance (GTMA) is the key point of contact for prospective international investors looking to expand or locate their business in the Greater Toronto Area (GTA). Through it’s complimentary and confidential advisory service, the GTMA, with the resources of its public and private sector partners, will provide prospective international businesses with essential business information and site selection services to help them invest in the Greater Toronto Area (GTA)

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For more information please contact:
Lars Hansen
NATIONAL Public Relations
llars@national.ca
416-848-1456