WINDSOR, Ontario—Jonathon Azzopardi was still battling jet lag at a recent chamber of commerce symposium titled "Doing Business With India."
The chairman of the Canadian Association of Mold Makers (CAMM) and owner of Windsor-based auto-parts supplier Laval Tool had just returned in March from his fourth trip to the nation of 1.3 billion people.
India, he said, is poised for "great growth, but they don't know how to get there; We'd be a great partner for India."
Canadian suppliers need to set their sights on burgeoning, nontraditional markets, especially in light of the recent announcement by General Motors to end vehicle production at its assembly plant in Oshawa, Ont., said Raj Sahni, a partner with Toronto-based international corporate law firm Bennett Jones.
"In Canada, as we see, potentially, our own domestic auto space shrinking with the announced exit of GM," Sahni said. "Canadian companies should be looking at opportunities abroad such as India to fill that gap and expand."
In light of recent trade uncertainty with the U.S., the Canadian government also is pushing companies to diversify by forging business links outside of North America.
Growing MarketAs the world's fourth-largest market for vehicle sales, India is on track to take the No. 3 position in 2021, according to a 2018 report by McKinsey & Co., a U.S.-based global management consultancy.