British Columbia is increasingly been seen as an excellent investment option by Indian nationals because of its cost-effective tax structure.
Corporate income tax in British Columbia is 16.5 per cent, compared with 35 per cent in the rest of North America, managing director (technology, research and innovation) of British Columbia International Trade and Investment Representative Office (BCITIR) Pratap Raju, said.
BCTIR helps Indian organisations and investors identify and take part in collaborative ventures with British Columbian firms.
Raju reported they were seeing huge demand for Canadian visas for Indian nationals, especially for the Canadian Investor Visa.
British Columbia has been focusing on attracting gaming and new media companies from India to the state, which is rapidly becoming a technological hub with 144 game developing companies already in the state producing CA$1.4 billion in annual revenue and providing 5,000 jobs. British Columbia also has more than 600 digital media companies, which generate $2.3 billion in annual sales and employ about 16,000 people.
Canada is expected to sign a film and new media co-production treaty with India next year, which will give Indian filmmakers access to film in the country.
British Columbia, which has the same time zone as Hollywood, is the third-largest film television centre in North America, after Los Angeles and New York. Every year, about 300 productions, including feature films and television series are shot in the province.
British Columbia hopes to open an office in Mumbai shortly and will take Bollywood filmmakers for location-scouting trips to the state.
The British Columbia Trade and Investment Representative Office is engaged in the strategic promotion and facilitation of trade and investment between British Columbia and India in various sectors with an emphasis on four priority sectors, including advanced energy, greentech and cleantech; and information and communications technology.