Ontario signs MoU with Telangana for economic cooperation

Hyderabad, Feb 4 (IANS) Canada’s Ontario province on Thursday signed an MoU with Telangana for economic cooperation.

The agreement was signed here in the presence of Ontario premier Kathleen Wynne, who is currently on a visit to India.

The two states will work together to advance mutually beneficial avenues of economic co-operation, said a statement from Telangana government.

Wynne said that the MoU would create opportunities to work in areas of information technology, agriculture and infrastructure.

Ontario also signed agreements valued over $11.5 million with various companies and institutions in technology and higher education.

These MoUs were signed at an event, where Wynne and the trade delegation accompanying her interacted with representatives of various companies.

At the signing up of MoU between the two states, Telangana’s Information Technology Minister K.Taraka Rama Rao that the high potential of economic cooperation between the start up state of Telangana and Ontario will be a win-win situation for both.

Wynne said: “The seven agreements signed today will benefit India and Ontario for years to come, and the new MoU between Ontario and Telangana will help strengthen commercial ties across key sectors, including urban infrastructure, information and communications technology, and education.”

The Indian Institute of Technology (IIT)-Hyderabad signed a research partnership agreement with Ontario-based McMaster University, which will generate opportunities to create intellectual property through innovation and to commercialize research outcomes.

Astra Microwave Products Ltd and Vaughan, Ontario-based Unique Broadband Systems Ltd established a joint venture to provide broadcasting services, satellite uplinking and medical imaging products to India and other regional markets.

The Nuclear Fuel Complex based in Hyderabad and Ontario-based Kinectics signed a MoU for partnership in nuclear energy.

Ottawa-based Solantro and their Indian partner, Smarttrack will collaborate on the development of power electric solutions for renewable energy and micro inverters.

DataWind signed a MoU with the government of Telangana to open a manufacturing base in Hyderabad which is expected to be in production within few months.

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