Bad publicity surrounding the poor conditions of many of the facilities for the 2010 Commonwealth Games in New Delhi is unlikely to dent trade and investment in India, former Indian president A.P.J. Abdul Kalam told Business in Vancouver September 28.
“We are ready. It’s going on,” Kalam said after giving a speech and entertaining questions from business leaders and academics.
Canada and India are currently negotiating a free trade pact to boost the current US$3.2 billion worth of annual bilateral trade to US$15 billion within the next five years.
The two nations are also trying to resolve differences and sign a proposed investment protection agreement that would safeguard investors’ rights. Canada reportedly wants taxation issues to be part of the agreement.
Kalam told BIV that trade is vital for economic development.
“That is the main focus,” said Kalam, who was president of India between 2002 and 2007. “Prosperity for India; prosperity for Canada. Both are important for the world. The tool will be trade. The tool will be education and trade and joined development programs and, for example, building carbon neutral cities. That is a common requirement for both India and Canada.”
Kalam was head of state of India, a position that is held by Queen Elizabeth II in Canada. His role, however, was more similar to the Queen’s representative in Canada, the governor general, because he held the position for a five-year term and conducted ceremonial duties such as summoning and proroguing India’s two houses of parliament.