ICICI Bank Canada Introduces THE GEMSTONE COLLECTION Receive Cash Back Rewards on every purchase1. Also earn BONUS Cash Back Rewards on a category of your choice! Gas & Groceries Entertainment Travel Gas Stations Restaurants & Bars Flights Proud to support the Indo-Canada Grocery Stores Coee Shops Hotels & Motels Movies & Sports Events Car Rentals Chamber of Commerce. Apply today by visiting a branch For more information: icicibank.ca 1-888-424-2422 ® 1 Cash advances, refunds, card fees, service/transaction charges and interest charges are not eligible for Cash Back Rewards. The TD logo and other trade-marks are the property of The Toronto-Dominion Bank. M05234 (0416) * Trademark of Visa International Service Association and used under license. The ICICI Bank, Rubyx and Coral names and logos are trademarks of ICICI Bank Limited and used under license. ICICI Bank Canada credit cards, any associated services and Cash Back Rewards are subjected to terms and conditions which can be found at icicibank.ca/legal or at any ICICI Bank Canada branch. Images are for illustrative purposes only. Proud to support the Indo-Canada Chamber of Commerce. ® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank. M05234 (0416) The best way to support a community is to be a part of it. There’s no better place to start making a difference than close to home. And at the heart of every community, you’ll find organizations fuelled by committed people who are passionate about building a better future for us all. We are inspired by our friends at the Indo-Canada Chamber of Commerce and of our longstanding partnership since 1993. Every community has a Someday™ — together we can make it happen. Let’s make Someday happen. ™ ® / ™ Trademark(s) of Royal Bank of Canada. VPS95725 90780 (04/2015) EDITOR’S NOTE “Transform and Transcend – leading the way forward” excellent selection of opinions and insights from a is the theme for this year’s Annual Awards and Gala distinguished panel of experts. We have attempted Night. It is a simple statement that indicates the to cater to the tastes of all our constituents, and we journey of a nearly four-decades-old institution – are confident that our efforts will meet everyone’s the Indo-Canada Chamber of Commerce – which has expectations. transformed itself into an organization that is focused on its constituents to deliver its mandate. The Annual Awards and Gala Night allows us to Indo Canada Chamber of Commerce has successfully applaud the success of the Award Winners and transcended the narrow confines imposed by highlight their inspirational profiles with their circumstances that could impede the progress of Arun Srivastava outstanding determination and career paths. It is a any organization and instead has marched forward to matter of pride to salute these remarkable awardees provide a platform to the aspirations of the million plus and heartiest congratulations to each one. Indo-Canadian community. Finally I would like to acknowledge every individual involved in The team led by President Sanjay Makkar has worked assiduously Indo Canada Chamber of Commerce with special recognition to to transform the ICCC into an institution that refocuses on its our traditional and new sponsors – the ICCC’s true partners in core mandate, and brings back the adage “We mean business”. success. We consistently focused on initiatives that aimed at achieving the ICCC’s objectives of fostering bilateral relations between Canada and India, and creating entrepreneurial and professional opportunities for Indo-Canadians. Our annual magazine captures this process admirably with an activity report for the past year as well as a plan of action for Arun Srivastava the next year. This includes a roundup of activities, and an Editor & VP, Finance & Sponsorship 39 Indo Canada Chamber of Commerce Annual Magazine 2016 5 TABLE OF CONTENTS Editor’s Note 5 Even Heroes Need Heroes 41 About the organization 9 By Namita Joshi Become a member 10 Preparing for the New 42 Volunteering 11 Macroeconomic Reality President’s Note 12 By Bipin Rai India-Canada Relations: 44 Governor General’s Message 14 Consolidation & expansion Prime Minister’s Message 15 By R. K. Perindia Message from the High Commissioner Small business software: How to get 45 for Canada to India 16 the most out your investment Message from High Commissioner of India 17 By Business Development Bank of Canada (BDC) Message from Federal Minister of Innovation, 18 Innvovate 2 Disrupt 47 Science & Economic Development By Sanjay Tugnait Message from the Premier of Ontario 19 Message from the Premier of Saskatchewan 20 Year in Review 2015/16 53 Consul General’s Message 21 Board of Directors 2015-2016 54 Advisory Board 2015-2016 57 Chief Guest’s profile 23 ICCC’s Committees 59 Keynote Speaker’s Profile 24 Council Reports: Alberta & Winnipeg 60 Annual Awards & Gala Night 2015 62 Award Winners 2015 25 17th Annual Charity Golf Classic 2015 64 Winter Gala 2015 65 Insights 33 India Mission 2016 66 The art and science of transformation 34 Year in Review 2015–2016 71 By Harold Schroeder The Chamber’s Secretariat 83 The Context of India’s Rise and Implications 36 Engaging Partners, Implementing Strategies: 84 for Canada ICCC’s Partners By Kasi Rao Sponsors 87 Resourcefulness- key to finance deal 40 between Indian & Canadian companies Hall of Fame 91 By Charan Kumar & Bryan A. Tannenbaum The information contained herein is based on sources believed to be reliable, but its accuracy is not guaranteed. Reasonable effort has been made to determine the accuracy of information received. Readers are advised to seek appropriate legal/financial advice prior to relying on any information contained herein. 6 Indo Canada Chamber of Commerce Annual Magazine 2016 39 SPONSORS ICCC Sponsors Lead Corporate Sponsor CIBC Sector Sponsors Silver Sponsors BDC ICICI Bank (Canada) Media Partners Collins Barrow Toronto LLP Air Canada The Weekly Voice CPA TD Bank Midweek & Y Media Export Development Canada (EDC) SBI Canada Bank Bronze Sponsors The AppLabb RBC The Host Award Sponsors Female Entrepreneur Male Professional Lifetime / Outstanding Achievement CIBC Capgemini Bromed Pharmaceuticals Male Entrepreneur Young Achiever Member of the Year RBC TD Bank Indo-Canada Chamber of Commerce Female Professional Corporate Executive President’s Award Air Canada ICICI Bank (Canada) Indo-Canada Chamber of Commerce CREDITS Publisher Indo-Canada Chamber of Commerce Art Direction Indo-Canada Chamber of Commerce Vinod John publishes the Annual Magazine every Editor June. Letters to the Editor or requests Arun Srivastava Graphic Design should be sent to the ICCC office. VinJo Media Content, Design & 924 The East Mall Editorial Advisor Production & Printing Toronto, ON, M9B 6K1 Pawan Chankotra Micro Printing Tel: 416.224.0090 Fax: 416.916.0086 Editorial & Content Photo Credits Email: [email protected] Consulting Bashir Nasir www.iccconline.org GAB Media 39 Indo Canada Chamber of Commerce Annual Magazine 2016 7 8 Indo Canada Chamber of Commerce Annual Magazine 2016 39 ABOUT THE ORGANIZATION The Indo-Canada Chamber of Commerce (ICCC) was founded in 1977. The ICCC is a membership based, volunteer driven, not-for-profit, non-partisan and privately funded business organization representing its members from the Indo-Canadian business and professional communities across Canada. The Mandate To promote trade and commerce between Canada and India with support provided to, and received from, various levels of governments and to establish links with global business organizations. To provide business networking opportunities for our members, sponsors and partners to enable the sharing of ideas, information and experiences in order to promote mutual business success; to create learning opportunities for our members through seminars, workshops and conferences. To recognize the achievements and contributions of the Indo-Canadian community as a part of the business and social fabric of Canada. The Vision The Chamber works hard on behalf of it’s membership, offering insightful and meaningful policy contributions, and leading initiatives that positively influence the Indo-Canadian economic and social landscape. Our aim is to serve as the premier voice of the Indo-Canadian business and professional community. We are committed to the enhancement of economic prosperity and quality of life of our members. The Chamber is the country’s premier Canada-India bilateral trade and investment facilitator, catalyst and advocate. Our mission includes the promotion and stimulation of bilateral trade and commerce between Canada and India. We recognize the importance of India as a premier trading partner for business in Canada. The Chamber is a pivotal resource in enhancing Canada-India trade. 39 Indo Canada Chamber of Commerce Annual Magazine 2016 9 BECOME A MEMBER At the Chamber, we believe strongly in the power of association. To facilitate this, we are constantly hosting networking opportunities where business people can meet other business people; professionals can meet professionals and exchange ideas, experiences, and get support. Many entrepreneurs will find the missing link in the room during our event. The room will be full of people who may have the key for your growth, and you may hold the missing puzzle for someone else’s growth. We share with you experiences of two of our members Prithpal Chagger As an entrepreneur, I feel deeply honoured to be a life member of ICCC. My association with ICCC over many years has enriched my life as a businessman immeasurably. I came to Canada over 40 years ago and met many challenges in finding my footing in Canada. But at every step, and particularly through my association with ICCC, I found success and prestige in Canada in numerous ways & my vision as an entrepreneur and a businessman broadened greatly. I became a mentor to many new immigrants to many young people who needed guidance and assistance in assimilating in the multicultural and multi-faith Canada.