Andrea Markey
Northern News Services

Iqaluit (July 25/05) - A group of business people from India was in Iqaluit last week to learn more about the Nunavut economy.

Six exporters, manufacturers and investors met with federal and territorial government workers, Inuit organizations and businesses to explore the territory's markets and learn about land claim and impact benefit agreements.

The tour came about as a result of a presentation made in February by David Simailak, Minister of Economic Development and Transportation, to the Indo-Canada Chamber of Commerce in Ontario about the Nunavut economy.

"This is a preliminary meeting to gather general information," said Dushyenth Ganesan, senior advisor of trade policy and program development with the GN's economic development and transportation department.

"The next visit could see a group going to a place like Cambridge Bay to talk more in depth once there is an understanding about benefit agreements."

While the goal of this first tour was to highlight the Nunavut economy, encouraging investment in the territory's burgeoning diamond industry is the long-term vision.

Due to scheduling conflicts, representatives from Stornoway Diamond Corporation were unable to meet with the Indian group in Iqaluit. Instead, Brian McLeod, chief operating officer of Stornoway, held a conference call with several members of the delegation last week.

Stornoway is involved in seven exploration properties in Nunavut, covering more than 22 million acres.

"They want guaranteed rights to rough stones," he said. "It is not unusual for people to be looking for that - but at this point we aren't negotiating anything."

The company will continue to listen to proposals, and as the projects advance, the offers will continue, he said.

As for the delegation, the group enjoyed themselves, said Dr. V.I. Lakshmanan.

"It's so beautiful here and the people are fantastic."