Deputy prime minister Chrystia Freeland, in a campaign stop at the University of Windsor on Thursday, promised “truly massive” investment to shift to a green economy, including electric vehicle and battery production here, if the Liberals are re-elected.
“One of the core planks in our platform is truly massive investment in Canada’s green transition,” said Freeland, who was finance minister in the Liberal government.
It’s the right thing to do for the planet and for future generations, she said.
“But investing in the transition to a green economy is also absolutely critical for Canada’s economic future,” she said.
Citing the G7 and G20 finance ministers meetings this summer, she said, “The industrial economies of the world have made the choice to shift to an economy not based on fossil fuels, to a clean and green economy.
“We can either be in the forefront of that green transition or we can be left behind. The simple economic reality is if we do not invest really meaningfully in the green economic transition today, no one will buy the things that we make. And Canada is a trading nation. We need the world to buy our stuff.
“Windsor knows that very, very well. We need to help you make clean, green things that the world wants.”
Investing in electric vehicles and the supply chain to support them is one of Mayor Drew Dilkens’ five priority issues in the campaign.
Freeland, who met with leaders from industry, labour, the university and college, United Way and UHC Hub of Opportunities, also addressed the global shortage of semiconductor microchips that has repeatedly shut down auto production here.
“There needs to be more emphasis on resilience in supply chains,” she said.
Depending on just-in-time delivery with supply chains that stretch around the world creates “rifts and vulnerabilities,” she said.
There’s a growing view calling for “friend-shoring” — supply chains that connect countries that are geographically close and are also political allies. For Canada, that means the United States.
“I think working on that has real, real promise for the Canadian economy and for the people of Windsor,” she said.
Freeland, on her first campaign stop since the Liberals released their platform Wednesday, also pitched the Liberals’ $10-a-day child care. The government has already reached agreements with eight provinces and territories covering 40 per cent of Canada’s children. But there is no agreement with Ontario yet. The program is particularly important for Windsor, which has a one of the highest rates of child poverty, she said.
High-quality, affordable child care would offer all children “the best possible start in life,” and it would offer all parents the opportunity to improve their education and skills and get jobs, she said.
She called it “transformational for this community.”
Establishing Ojibway National Urban Park is also “definitely a priority for our government,” Freeland said.
A re-elected Liberal government would also invest an additional $6 billion in health care to clear surgery backlogs in hospitals caused by the pandemic, she said.
Asked to respond to COVID-19 vaccine protesters who have rallied in Windsor and across the country and mobbed Prime Minister Justin Trudeau’s campaign stops, Freeland said, “It’s not only appropriate for governments to introduce strong vaccine mandates, it would be wrong to do otherwise. We do not let a person drive their car while they’re drunk, and we should not let a person who hasn’t been vaccinated get on a plane and sit in a small space next to other people. The time has come for governments to say this is it. If you don’t want to get vaccinated, you can not participate in the life of the community because you are making the choice to endanger other people in the community.”
NEW DELHI: The tense diplomatic relations between India and Canada are unlikely to impact trade and investments between the two countries as economic ties are driven by commercial considerations, according to experts. Both India and Canada trade in complementary products and do not compete on similar products.
“Hence, the trade relationship will continue to grow and not be affected by day-to-day events,” Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said.
Certain political developments have led to a pause in negotiations for a free trade agreement between the two countries.
On September 10, Prime Minister Narendra Modi conveyed to his Canadian counterpart Justin Trudeau India’s strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there.
India on Tuesday announced the expulsion of a Canadian diplomat hours after Canada asked an Indian official to leave that country, citing a “potential” Indian link to the killing of a Khalistani separatist leader in June.
Srivastava said these recent events are unlikely to affect the deep-rooted people-to-people connections, trade, and economic ties between the two nations.
Bilateral trade between India and Canada has grown significantly in recent years, reaching USD 8.16 billion in 2022-23.
India’s exports (USD 4.1 billion) to Canada include pharmaceuticals, gems and jewellery, textiles, and machinery, while Canada’s exports to India (USD 4.06 billion) include pulses, timber, pulp and paper, and mining products.
On investments, he said that Canadian pension funds will continue investing in India on grounds of India’s large market and good return on money invested.
Canadian pension funds, by the end of 2022, had invested over USD 45 billion in India, making it the fourth-largest recipient of Canadian FDI in the world.
The top sectors for Canadian pension fund investment in India include infrastructure, renewable energy, technology, and financial services.
Mumbai-based exporter and Chairman of Technocraft Industries Sharad Kumar Saraf said the present frosty relations between India and Canada are certainly a cause for concern.
“However, the bilateral trade is entirely driven by commercial considerations. Political turmoil is of a temporary nature and should not be a reason to affect trade relations,” Saraf said.
He added that even with China, India has acrimonious relations but bilateral trade continues to remain healthy.
“In fact, bilateral trade is an effective tool to improve political relations. India must make special efforts to increase our bilateral trade with Canada,” Saraf said.
India and Canada have a strong education partnership. There are over 200 educational partnerships between Indian and Canadian institutions.
In addition, over 3,19,000 Indian students are enrolled in Canadian institutions, making them the largest international student cohort in Canada, according to GTRI.
According to the Canadian Bureau for International Education (CBIE), Indian students contributed USD 4.9 billion to the Canadian economy in 2021.
Indian students are the largest international student group in Canada, accounting for 20 per cent of all international students in 2021.
Benefits of educational partnerships are mutual and hence the current situation may have no impact on the relationship, Srivastava said.
Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.
Taiwan-based Foxconn, the world’s largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.
V Lee, Foxconn’s representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday, said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
He did not give more details.
Foxconn already has an iPhone factory employing 40,000 people in the state of Tamil Nadu.
Foxconn dangles incentives for workers as iPhone shortages plague holiday season
Foxconn dangles incentives for workers as iPhone shortages plague holiday season
In August, the state of Karnataka said the firm will invest US$600 million for two projects to make casing components for iPhones and chip-making equipment.
The company’s Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: “several billion dollars in investment is only a beginning”.
Taiwan election: Foxconn’s Terry Gou taps star-powered running mate
Last month, Foxconn’s billionaire founder Terry Gou said he would run for the Taiwanese presidency in next year’s election, as an independent candidate.
He said the ruling and independence-leaning Democratic Progressive Party (DPP) was unable to offer a bright future for the island and left Foxconn’s board following his decision to run.
The firm operates the world’s largest iPhone plant, in the city of Zhengzhou in Henan province.
Foxconn, Taiwan-based Apple supplier, has said that they are planning to double their investment and workforce in India within the next twelve months, according to V Lee’s LinkedIn post on the occasion of Prime Minister Narendra Modi’s 73rd birthday.