Canada India Foundation brings out its Newsletter Nov 2021 Vol 34 Issue #21

CIF E-Newsletter Volume 34 Issue #21 November 2021

‌

‌

‌

‌

‌

Chair’s Message

Closer Canada India Cooperation in Technology Can Aid in Economic Recovery

Hello friends. Hope you had a great Diwali celebration. Compared to the one last year, held in the shadow of a Covid-19 wave that swept through Canada, we were able to mark the Festival of Lights with some degree of gaiety among friends and family. Let us be thankful for the changes in the Covid-19 environment, however small these improvements are.

Here, I would like to share with you a more important aspect of the pandemic that needs closer attention from society and government alike. Thanks to the very generous measures launched by the federal government, the most painful aspects of the pandemic were dulled, especially for the average citizens. The relief measures put into place, whether related to the terrible loss of employment, small businesses struggling due to the extended lockdowns were the right thing to do for a government faced with an emergency situation.

Now that we are entering a post-Covid-19 phase, there are signs that the hundreds of billions of dollars pumped into the national economy may produce some not so desirable side effects, just like most medicines. The inflation for October came in at 4.7%, a figure not seen since the early part of this century. Experts expect it to go up, even more, impacting businesses and households alike. A persistent state of inflation above the Bank of Canada’s control rate (1 to 3%) will be detrimental to the overall economy. (Read more)

India’s Growth Will Be a Pivotal Factor in World Economy — Peter Hall

Toronto: Peter Hall, Vice President and Chief Economist, Exports Development…