At least two locals are hailing a Indian trade mission as a success, with contracts and memorandums of understanding already signed.
Onux Nexus, a Surrey-based corporate services company, announced Friday it secured the first of what it believes will be a multi-deal trip with one of the most powerful Asian organizations in his field.
“Oxus Nexus had short-listed a few companies to target heavily during this trip. Datamatics was right at the top,” Onux Nexus Managing Director Upkar Tatlay said in a release. “Essentially, we came to Mumbai seeking a joint venture to secure a partner that could ease our transition into the Indian market for Canadian biotech advances in medicine and technology. Our first foray into the Indian market is going to be a test product with applications in the defense sector (Armed Forces) as well as in the public sphere. This is extremely exciting for my company.”
During an extended session on the first day of meetings, followed by a second meeting featuring a large team from Datamatics, Oxus Nexus and Datamatics reached an agreement and moved to an MOU specific to transition, test markets, and finance, primarily.
In addition, Indian media are reporting that the City of Surrey and SFU have “inked a deal with India-based Luminous Power Technologies (LPT).
LPT provides power backup solutions for home, commercial, telecom towers and renewable energy systems.
It signed a memorandum of understanding with Surrey and SFU on plans to create clean energy systems in Surrey.
It’s hoped to create a new LPT office in Surrey, while fostering research and education partnerships with SFU Surrey campus.
In total, 32 delegates are participating in the Mission representing 24 companies in the clean energy, education, wood and manufacturing, film and entertainment, life sciences, communications technology and business and finance sectors. Over 100 meetings will take during the Mission.
The trip, which includes elected officials as well as corporate executives, takes place February 10 – 21 and includes time in Mumbai, New Delhi, Bangalore, Chandigarh, Jalandhar, Ludhiana and Amritsar.