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Canada urges India for transparent power project deals

Leading Canadian companies have asked India to appoint 'trade ambassadors' to facilitate foreign investment in the power sector and take measures to avoid any role of middlemen in project deals.

"The Indian government must take effective meaures to eliminate brokers and appoint 'trade ambassadors' to facilitate foreign investment in the country", representatives of Canadian business houses told visiting Union Power Minister Suresh Prabhu.

Stating that Canadian companies had the technology, finance and experience in all aspects of power generation, transmission and distribution activities, the business houses asked India to "identify its needs and act in a business-like manner".

Earlier in the week, the power minister signed a $75 million line of credit between Canadian Export Development Corporation and the public-sector Power Finance Corporation (of India) Limited to finance the supply of goods and services by Canadian exporters.

Prabhu who is in Toronto, Canada to attend a seminar on 'Reforms and Opportunities in Indian Power Sector', organised by Canada-India Business Council, told the Canadian companies that India offered "excellent opportunities" in power sector.

"We want Canadian companies to take a serious look at the significant trade and investment opportunities in India", he said.

Fifty of Canada's leading companies dealing with power generation, transmission and distribution, maintenance and upgradation of power plants and non-conventional energy sources participated in the seminar.

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