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Vadodara, Feb 16 () The Canada government is keento capitalise on Vadodara's inherent capability of businessand trade and tap its potential in education and IT sectors, asenior official from the North American country has said.A Canadian delegation was in Gujarat's Vadodara cityon Friday to meet top business and industry players in a moveto strengthen trade relations with tier-2 cities of India.After the meeting, Consul and Head of Trade &amp;Investment at the Consulate General of Canada in Mumbai,Carlos Rojas-Arbulu told that the Indo-Canadian BusinessChamber is also contemplating to open a representative officein Vadodara to boost trade ties with the city.Aiming to tap potential in areas of education,Information Technology and manufacturing sector, the Canadagovernment is eyeing to enhance two-way trade with Vadodara,the third largest city in Gujarat, he said."It's the time to tap the potential of cities likeVadodara that already has ties with Canada. These ties can befurther enhanced and new ones can be explored," he said.He said information and communications technology isone of the top priority areas of the Canadian government,followed by automotive sector, agriculture, clean technologyand infrastructure, among others."There is immense potential for Vadodara tocollaborate with Canada in areas of education, digitisation,food and clean tech as well as bi-lateral trade between smalland medium businesses," he said.The bilateral trade between India and Canada is about$10 billion that is estimated to grow to $60 billion in thenext five years, the envoy said.Canada also sees a huge opportunity to associate withVadodara in the field of education, which is directlyco-related to the growth of industries in the region, he said."In this context, Vadodara hits all the right chordswhen it comes to doing business with Canada. We alsorealise that India's drive towards becoming USD five trillioneconomy rests on the shoulders of important cities likeVadodara, and Canada can help the city in realising its fullpotential," the official said. CORGK GK

Canada keen to strengthen trade ties with Vadodara

<ul><li>The oil and gas sector has exhibited resilience and recorded a strong 9% growth in hiring trends compared to July of the previous year. </li><li>The real estate sector demonstrated a noteworthy 5% growth in hiring activity. </li><li>The current AI boom is driving a significant demand for specialised positions like full stack AI scientists and machine learning (ML) engineers. </li></ul>The rapidly growing cities of Jaipur and Vadodara have demonstrated a consistent upward trend in their hiring indices, exhibiting increases of 4% and 2% respectively, when compared to July last year, according to the JobSpeak report by online job portal Naukri.com. This growth has been primarily driven by the oil and gas, pharma, and auto sectors, which have been actively recruiting in these regions. The positive hiring trends in these sectors contribute significantly to the overall employment landscape of both Jaipur and Vadodara, making them attractive destinations for job seekers and businesses alike. The Naukri JobSpeak Index, which serves as a key indicator for white-collar hiring in India, recorded a value of 2,573 for July 2023. This figure reflects an 8% decline compared to the previous month and a significant 19% decrease compared to July 2022. <cmsannotation type="cmsannotation" annotationid="Oil and Gas sector exhibit resilience" comment="subhead" text="Oil and Gas sector exhibit resilience">Oil and Gas sector exhibit resilience</cmsannotation> Despite the market turbulence, the oil and gas sector exhibited resilience and recorded a strong 9% growth in hiring trends compared to July of the previous year. The surge in energy consumption in the domestic market played a crucial role in driving this growth. Certain roles within the sector saw high demand, particularly in cities like Ahmedabad, Mumbai, Pune, and Hyderabad. Positions such as field service engineer, quality engineer, procurement manager, and logistics manager were among the most sought-after. Notably, senior professionals remained highly in demand within the oil and gas industry, indicating a preference for experienced and seasoned individuals to lead and contribute to its continued growth. <cmsannotation type="cmsannotation" annotationid="Real estate sector shows resurgence" comment="subhead" text="Real estate sector shows resurgence">Real estate sector shows resurgence</cmsannotation> The real estate sector demonstrated a noteworthy 5% growth in hiring activity, reflecting the resurgence of infrastructure projects and an increase in consumer investment in residential properties compared to July of the previous year. Among the most sought-after profiles were project manager - construction, interior designers, architects, and civil engineers, particularly in cities like Kolkata, Mumbai, and Chennai. Notably, the demand for mid to senior-level professionals within the sector witnessed a higher increase in July 2023 compared to the same period last year, indicating a positive trend towards hiring experienced and skilled individuals to drive the industry's growth and development. <cmsannotation type="cmsannotation" annotationid="AI specific roles in demand" comment="subhead" text="AI specific roles in demand">AI specific roles in demand</cmsannotation> The current AI boom is driving a significant demand for specialised positions like full stack AI Scientists and ML Engineers. In July, the number of new job openings for these roles increased by 9% and 6%, respectively, compared to the beginning of the year. The tech and finance sectors are particularly showing the strongest demand for these niche roles. As AI continues to shape various industries, professionals with expertise in these areas are becoming increasingly sought after in the job market. <cmsannotation type="cmsannotation" annotationid="Hospitality sector on steady growth trajectory" comment="subhead" text="Hospitality sector on steady growth trajectory">Hospitality sector on steady growth trajectory</cmsannotation> As travel restrictions have been easing out and tourism is on the rise, the Hospitality sector has experienced a steady growth trajectory. In July 2023, there was a notable 2% increase in new job creation compared to the same month last year. The sector has been actively generating employment opportunities for positions such as restaurant managers, hotel managers, and travel desk coordinators, with a particular focus on cities like Mumbai and Chennai. This positive trend in job creation signifies the recovery and revival of the hospitality industry as it adapts to the changing travel landscape. <cmsannotation type="cmsannotation" annotationid="IT industry witnesses dip in new job creation" comment="subhead" text="IT industry witnesses dip in new job creation">IT industry witnesses dip in new job creation</cmsannotation> The IT industry's hiring situation remains a cause for concern, as there was a significant 46% decline in new job creation in July 2023 compared to the same month last year. Additionally, other sectors like FMCG, Retail, BPO, insurance, and education also exhibited cautious hiring sentiments, with a respective decline of 23%, 23%, 21%, 16%, and 14% in new job opportunities compared to July last year.

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Canada keen to strengthen trade ties with Vadodara

PTI

Jaipur, Vadodara to act as emerging hiring hubs, finds report

Anagh Pal

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