Maharashtra-Quebec sign economic cooperation pact

CPDQ, Bombardier to invest in state

Mumbai: With Maharashtra Chief Minister Devendra Fadanvis and Philippe Couillard, Prime Minister of Quebec province of Canada signing the agreements, a new beginning of economic cooperation between the two has begun. The agreements related to economic cooperation in Information Technology, Bio-technology, Aeronautics, Energy, Artificial Intelligence and Tribal Development were signed by the two. Besides, CDPQ, Institutional Fund Manager which manages funds over $298 billion, and Bombardier industrial group have expressed their willingness to invest in Maharashtra.

A delegation of State led by the Chief Minister is currently on visit to Canada. Today, the Chief Minister called on Prime Minister Philippe Couillard and discussed with him on various important issues. Maharashtra has a large number of youth and to provide them employment in future, there is a need to use artificial intelligence technology in ports sector. On this issue positive discussion was held between the state of Maharashtra and Quebec province regarding exchange of artificial intelligence technology. Following this discussion a MoU was signed to strengthen the economic cooperation between the two provinces, Quebec’s Minister for International Relations Christine St-Pierre was prominently present. The Chief Minister had very fruitful discussions with Quebec’s Deputy Prime Minister Dominic Angled on Tuesday.

Chief Minister Fadanvis met Michael Sabia, President and CEO of CDPQ. CDPQ is Institutional Fund Manager which manages funds over $298 billion. The intention in having this meeting was to attract more investment in Pension Fund from Canada. CDPQ agreed to partner with some of the companies in India and also shown interest in working with retail partners. CM Fadanvis highlighted Maharashtra Samruddhi Corridor, logistic parks and few more projects as the perfect options for investment.

The state delegation met Pierre Beaudoin, Chairman of the Board Corporate office of Bombardier, a multinational Aerospace and Transportation Company and world’s leading manufacturer of aircraft and trains in Quebec. The company evinced interest in supporting Maharashtra Metro and Mono rail transport infrastructure.

The Chief Minister thanked Pierre Beaudoin for his cooperation and support to the transport sector in the state which will change the shape and future of mobility. On this occasion Chief Minister’s additional Chief Secretary Pravin Pardeshi, IT Department Principal Secretary S V R Sriniwas, and MIDC CEO Sanjay Sethi were present.