This is the next blog in the continuing series of interviews with leading professionals. In this series of blogs, I have an exclusive interview with Hari Panday: President and CEO, ICICI Bank Canada, International Executive, Business and Technology Thought Leader.Enjoy! Stephen Ibaraki, FCIPS, I.S.P., MVP
Q4: How is the Canadian business environment different from that internationally?
A: It is no secret that the striking difference about us is the small consumer base in Canada, the proximity and economic links with the US economic activity and continued reliance on natural resources are very noticeable factors.
Diversification and access to another large consumer base is an issue that countries in the Far East, Africa or in Europe do not face. Though increased share of the services sector in the last decade or so, and more recent efforts by major Canadian corporations and large pension funds, has started to provide some diversification to the Canadian economy.
Q5: What should we watch for internationally?
A: I think India and China will continue to throw new dimensions as consumers in those countries become more affluent and start to control their destiny, in view of their own cultural values. We will also start to see the spillover effect in the African sub-continent where India and China are seen as the role models. Other South Asian countries are accelerating their policy and international relationships - the most recent example being a free-trade pact being finalized between Thailand and India. We are likely to see an increased presence of Singaporean and the Middle East investors in North America.