British Columbia woos Indian IT, BT investments

British Columbia woos Indian IT, BT investments

The Province, British Columbia officials told Deccan Herald, is wooing Indian investments in new gaming and digital animation, ICT and biotechnology sectors and tap its rich resources and incentives to further businesses by not only tapping domestic market as also North American and other offshore markets.

While British Columbia’s new media sector boasts of 1,000 companies generating annual revenues of over $2 billion, the Province’s burgeoning ICT sector, strong in services, manufacturing and telecommunications space, is home to over 6,000 companies generating revenues of over US$9 billion employing over 46,000 people.  Likewise, the Life Sciences sector has over 179 companies in biopharmaceuticals sector with over US$1 billion revenues. To support research & innovation through GenomeBC, it is pumping $60 million as part of $428 million in new investments and additional $407 million in tax reductions to improve competitiveness.

Officials said areas of new media speciality include games and digital entertainment, animation and digital film, mobile content and applications, e-learning, software and sector-based services. Pointing out that the Province’s competitive business environment and quality of life, makes it favourable place for Indian companies to do business, they said, British Columbia, also offers array of attractive tax packages and investment incentives for not only establishing full-fledged presence but also enter into joint ventures and collaborative initiatives.

Officials said Indian IT biggies like TCS, Infosys and Wipro have sizeable presence in Canada based out of Toronto with offices in British Columbia, besides Indian banking majors like ICICI and SBI.  Incidentally, they revealed that a leading new media and gaming company has inked an initial pilot phase pact with Bangalore-based company which would eventually result in multi-million dollar project going forward.  Likewise, officials said, five more companies were in talks for multi-projects negotiations that would result in big ticket deals soon.

Further, they said, trade office in Bangalore, is assisting a US$14 billion diversified Indian group also into BPO space for big ticket acquisition of BPO fim in Canada. The deal size once through will be to the tune of US$5-10 million, they said, adding besides training of staff, the firm with Canadian presence would be addressing North American market.

In this regard, they said, British Columbia which has Indian office in Chandigarh besides Bangalore will opening one in Mumbai shortly as part of its ambitious exercise of wooing Indian companies to British Columbia. Incidentally, a four-member team from British Columbia, led by Attorney General, Cabinet Minister & Government House Leader Michael de Jong, Parliamentary Secretary Dave hayer, Forestry Innovation Investment Ltd CEO Ken Baker and former minister Patty Sahota held roundtable discussions with several Bangalore companies.