INDIAINDIA GOESGOES GLOBALGLOBAL TelferTelfer SchoolSchool ofof ManagementManagement

Peter Nesbitt, RVP, Asia Export Development Canada February 19, 2009 Ottawa FUNDAMENTS IN TACT

• GDP growth rate of between 6.5- 7.1% • Well capitalized banking system • Youngest workforce in the world (Median age of 25) • Per capita incomes to rise by 5.3% • Burgeoning middle-class • Political stability CEO Optimism Survey

• Asia- Pacific 31% • Central & Eastern Europe 21% • Latin America 21% • Western Europe 15% • North America 15%

Source: PWC Annual Global Survey – representing 1,124 interviews with CEOs in 50 countries during the last quarter of 2008 83Privately Held Businesses ’s Corporate Titans

•Confident

Anil and •Cash Rich Vijay Malya Mukesh Kumar M. Birla of of Kingfisher Ambani of the the Birla Group •Going Global Reliance Groups

Naresh Goyal of Jet Airways

Sunil Mittal of the Bharti of Group the Tata Group “EDC” - WHO ARE WE?

• Canada’s official Export Credit Agency (ECA);

• Crown Corporation founded in 1944

• HQ in Ottawa and representation around the world;

• Supporting 7500 customers in over 180 markets around the world;

• Achieved business volumes of EDC IN INDIA • EDC has been doing business in India for more than 40 years;

• On-ground presence since April 2005 – New and ;

• Corporate vs. Sovereign Risk

• Priority Sectors: Telecom, Automotive, Energy, Infrastructure. EDC Business Volumes in India

$1.76bln

Political Risk Insurance $1,800 Financing $1,600 1,175 Contract Insurance & Bonding $1,400 Short Term Insurance $1,200 730 $1,000 611 $800 376

Millions (CAD) 267 $600 197 262

$400

$200

$0 2001 2002 2003 2004 2005 2006 2007 2008 EDC Bus. Volumes vs. Can Exports to India (2001-2008)

1800 1,683 1,765 1,030 1600 (CAD$M) 1400 CDN Export 1,175 1200 EDC BV 1030 1000 811 729 740 800 667.1 600 376 400 262 267 611 200 0 2002 2003 2004 2005 2006 2007 2008

In 2007, EDC’s Business Volume in India represents 70% of total Cdn Exports to India SOME OF OUR RELATIONSHIPS INDIANINDIAN COMPANIESCOMPANIES GOGO GLOBALGLOBAL FORFOR 55 REASONSREASONS • Competitive factors • Markets • Technology • Raw Materials • Brands Mergers & Acquisitions (M&A)

“Indian companies may soon become the first from the emerging markets to acquire foreign companies at a greater rate than vice

Stephenversa.” Barrett Global Chair KPMG Corporate Finance

Source: KPMG’s 2008 International Emerging Markets Acquisition Track Mergers & Acquisitions (M&A)

“We nevertheless expect Indian firms to remain the most acquisitive emerging economy players in developed economies in the near future. “ Stephen Barrett Global Chair KPMG Corporate Finance

Source: KPMG’s 2008 International Emerging Markets Acquisition Tracker CATALYSTSCATALYSTS FORFOR INDIANINDIAN GLOBALGLOBAL M&AM&A

• Government Support

• Commercial economics

• Valuations ADITYA BIRLA GROUP “Global Vision, Indian Values”

KUMAR M.BIRLA

CANADIAN ACQUISITIONS: Novelis (Aluminum) Minacs (BPO) AV/Nakiwak (Pulp & Paper) THE TATA GROUP

• Tetley Tea • Tata Steel Tata Corus (Dutch-Anglo), Nat Steel (Singapore), Millenium (Thailand) • Tata Motors Jaguar (UK), Landrover (UK), Daewoo Comm Veh. (Korean) • Tata Consulting Services • Taj Hotels The Pierre (NY) THE ESSAR GROUP

Shashi and Ravi Ruia

ESSAR STEEL ALGOMA ESSAR STEEL MINNESOTA ESSAR T STEEL TRINIDAD

Also looking for investments: Essar Oil & Gas, ICICI BANK

9 Branches in Canada RELIANCE INDUSTRIES

MUKESH AMBANI

•New 580,000 barrels-per-day refinery •Market Cap of $40bln ATUL CHANDRA •Chevron owns 5% of RPL Others to watch…. EDC Team in India.. merci

Peter Nesbitt Rajesh Sharma Vibhav Agarwal Leena Subramanian Regional VP, Asia Regional Manager Regional Manager Coordinator Mumbai New Delhi New Delhi [email protected] [email protected] [email protected] [email protected]