Vishnu Prakash, High Commissioner of India to Canada, says his country is eager for partnerships with Canadian companies, and the educational institutions necessary to educate and employ the country’s growing young population, two thirds of which is under the age of thirty-five.
‘India needs partners’
Commissioner Prakash, in a speech to the Montreal Council on Foreign Relations, explained the evolving conditions and the ‘young aspirational Indian’. He touted the country’s stable currency, the low inflation rate and a high rate of savings at almost 32 per cent.
Listen“The median age in India in 2020 will be 29 years, in China it will be 37 and in Europe it will be 49”, Prakash explained. He describes the country’s demographic dividend as its demographic challenge as well
“The median age in India in 2020 will be 29 years, in China it will be 37 and in Europe it will be 49.”
There is a four-pillar plan to make the most of the opportunities, and Canadians, due to their connections and their history, are counted on to participate. Both countries are democracies, with English as one of the official languages, and the diaspora, 1.2 million Indo-Canadians, can facilitate links and provide momentum to relationships.
Energy expertise is one area in which Canada can contribute. Infrastructure is another. The country is urbanizing quickly with over 200 million people expected to move from rural areas. Smart cities must be built. The railway system is being modernized.In
Infrastructure, however, remains one of the biggest challenges. “Infrastructure bottlenecks are everywhere” Prakash says. Roads, highways, and airports are all urgently needed, as is the investment and partnerships to build them.
Some practical developments are being implemented. Air Canada will inaugurate direct flights between Delhi and Toronto beginning November 1st. And 10-year tourist visas are now available for the asking.
Vishnu Prakash credits Prime Minister Modi with the integrity and know-how to change India. Corruption is being challenged, and poverty addressed, Prakash describes as ‘miraculous’ the initiative to bring poor people into the banking system, by inviting them to open accounts with a zero balance. 180 million bank accounts were opened in 8 months, totalling 6 billion dollars.
“Are we happy”, Prakash asks rehtorically, ‘Yes. Are we satisfied? No.”
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