Toronto Stock Exchange to hold road show in India

TORONTO - The Toronto Stock Exchange (TSX) will hold a road show in India in November to showcase its unique position in the global mining industry.

TSX is also the worlds largest mining and energy market, with the biggest number of companies listed on it.

The stock exchange agreed to the road show after its exchanges with the visiting Indian delegation here for the Canada India Mining and Metals Forum 2010.

“TSX is a unique institution in the world with which we want to engage. They are coming to India in November for a road show, during which all mining and mining-related companies will interact with them,” Indian mining secretary Subramanyam Vijay Kumar told IANS.

With India poised to usher in a new mining code to allow easy access for foreign mining companies, Kumar said: “The TSX road show will help Indian companies understand how it (the stock exchange) can access high capital flows for high-risk ventures in India. This will change the way the mining sector operates in India.”

Without elaborating, he said the road show would go to major cities. “Details are being worked out.”

“TSX can definitely help India become a major mining destination and leverage its true mining potential,” said the Indian mining secretary, whose team includes major Indian mining players such as the Tatas, JSW as well as SBI Capital Markets.

The chamber of commerce from Ontario province, which signed a Memorandum of Understanding (MoU) on the mining sector with India in June, will also participate in the global mining congress and mining equipment exhibition in Kolkata in November, Kumar said.

Kumar added: “India is now globally active in search of raw materials. Resources-rich Canada offers big opportunities for Indian mineral and metal companies. Though companies like Tata, Hindalco and Essar have already acquired assets in Canada, there is a huge scope for further acquisitions, particularly in coal-related properties and base metals.”

The Canada-India Forum, which annually focuses on a particular field, is part of the on-going dialogue between the two countries to deepen their trade engagement.