Creating standard operating systems at the Chamber and bringing in experts as advisors tops his agenda, he says
TORONTO: Pramod Goyal, the new president of the Indo-Canada Chamber of Commerce (ICCC), is a dynamic entrepreneur, highly experienced business strategist and management consultant.
A science graduate, with an MBA from the Kellogg School of Management as well as a post- graduate degree holder in internal audit, he founded and successfully managed several businesses with interests in telecom, information technology, packaged foods and consumer products in India before he immigrated to Canada in 2001.
“With the grace of God, I was professionally and financially very well settled in Delhi when I decided to immigrate here in 2001 to ensure a better quality of life for my young family,’’ he says.
Once he landed in Toronto, Pramod says he wanted to get into business right away. “But I was advised that the dynamics here are different than in India and that most SMEs (small and medium enterprises) fail,’’ he says.
So to play it safe, Pramod instead decided to take up a job in the interim. He joined the banking industry and worked mostly in the business and commercial banking areas. “I worked for Scotiabank and then the RBC Royal Bank till 2009 when I decided to start my own business.’’
That’s when he founded Canadawide Financial Corporation Limited which has since grown into a multifarious business advisory company.
“At Canadawide Financial, we provide consulting and advisory services on business planning, project financing, controllership services, and business collaborations. We also provide board support and help in strategy formulations, etc.,’’ says Goyal who is the president and CEO of the Group. The group now has interests in information technology, commercial real estate, healthcare and media and entertainment industries, with offices in Canada, the US and India.
The 31st president of the ICCC says his association with the Chamber goes back to 2004. “I have been very active in the Chamber since then. Even while working at Scotiabank, I served on the bank’s multicultural committee.’’
Volunteering is a passion for Pramod who has served on a number of professional, private and non-profit boards and committees. He is a past Rotarian and a proud “Paul Harris Fellow” of the Rotary International Foundation.
A prominent and active member of the South Asian business and professional community in Canada, Pramod has been recognized for his entrepreneurial spirit, integrity, generosity and dedication to business, community and his family.
A devout family man, he is the father of two young daughters. “My elder daughter Priyanka is working with Nissan Finance at its headquarters after completing her business studies from the Schulich School of Business, and my younger daughter Rachel is pursuing the specialized honours program in Public Administration. My love and my inspiration, my wife Grace, is a big support in my business,’’ he says.
The ICCC president says when he is done with his term he would like to leave behind a dynamic and vibrant Chamber that members can be proud of.
Just back from India after competing their Mission 2019 during which the Chamber opened its first India Chapter in New Delhi, Pramod Goyal says putting in place standard operating procedures, bringing in experts as advisors and changing the culture of functioning are his top priorities as the ICCC president.
Excerpts from the interview:
Q: Congratulations on opening the India Chapter of the Indo-Canada Chamber of Commerce in New Delhi. How will it help India-Canada trade relations?
We opened our India Chapter in New Delhi on February 18. India’s commerce and industry minister Suresh Prabhu officially launched the Chapter at the India Habitat Centre in the presence of over 150 prominent people, including Brampton Mayor Patrick Brown, our ICCC delegation and other officials.
Welcoming our initiative, Minister Prabhu said there is a huge potential for trade between the two countries, adding that the Chamber and its India Chapter can play a significant role in boosting the bilateral trade.
Since the Chamber has its own presence in India, we are now better equipped to provide assistance to individuals and businesses based in India that are interested in Canada and vice versa.
The India Chapter will act as a facilitator for creating partnerships between SMEs in India and Canada. The Chapter will eventually have a full-fledged office, and open for membership.
Vikas Sharma, chief executive of the Centre for Strategy and Leadership, will look after the India Chapter.
Q: What else was accomplished during the India Mission 2019?
Our 26-member delegation went to five cities and interacted with chief ministers of Punjab, Haryana and Puducherry. In Goa, we signed three MoUs. It was a very fruitful visit. Brampton Mayor Patrick Brown and his delegation also went with us to Chandigarh and Delhi.
Q: What is your top priority as the ICCC president?
My topmost priority is to provide greater opportunities to connect, educate, and empower our members and everyone who wants to do business. To ensure this, we are doing a few things. Firstly, we want to introduce individuals and businesses to each other for increased opportunities, locally and globally. Secondly, we want to expand our business knowledge, specifically in the realm of high innovation. Lastly, our aim is to empower and inspire our members and community to collaborate, engage, and enter into strategic partnerships with other trade chambers and professional bodies.
Q: What is your priority number two?
Governance and financial prudence would be other key areas of focus during my term. Adoption of a robust fiscal policy, framing of standard operating procedural framework, and expanding on our existing governing rules are some of the key initiatives that my team has started focusing on. We want to change the culture of functioning at the Chamber.
Q: Your priority number three?
I want to ensure continuity at our management level, so that when new teams take over from the previous office-bearers, they know where they are starting from and what happened in the past. There has been a constant demand by key stakeholders at the Chamber to adopt some change in its provisions to have better transition for the incoming boards, and I wish to address this issue.
Q: Isn’t this the case now?
Not in true perspective. I must admit that there are certain challenges.
Q: So what are you doing to ensure continuity?
As I said, you need better governance and operational policies, and more personnel for that to be effective.
Q: The Chamber has over 1,100 members. What are you going to do to bring better value to them?
I am happy to share that recently we announced a new President’s Secretariat. It includes a team of eight senior advisors to assist, advise and enable the Chamber President and his Board team to have dedicated focus on certain key areas. This step represents a strong move for the ICCC, and will give us the opportunity to innovate. These advisors are highly accomplished and experienced people who will focus on various areas. These areas include partnerships and strategic alliances, government relations, and new business initiatives to solidify ICCC’s position as the thought leader with essential, informed perspectives that are necessary at the table of all major economic development and public policy discussions aimed at improving India-Canada and global business.
Certain additional initiatives are being taken to offer quality programs. We intend to continue creating valuable networking opportunities which are fundamental to deepen business ties and develop the Chamber as an ideal platform to foster a bilateral commercial exchange.
Q: What else do you plan for ICCC members?
We are increasing our resources for our members. The Chamber has 15 committees focusing on different areas and we are encouraging members having expertise in these focus areas to take up roles in these committees. Anyone approaching the ICCC for any trade and commerce related input could be helped by these experts. We are also in the process of putting together a team of subject matter experts on various industry groups whom our SME members can approach for mentorship, professional advice and guidance. Additionally, the Chamber is committed to bringing more affinity programs for its members, in addition to the recently added affinity programs from Turkish Airlines and Telus.
Q: You have also spoken about establishing the brand value of ICCC. How?
I believe that an organization like the ICCC with its 40-plus years of history, could have done much more in terms of its outreach and visibility. Now specific efforts are being directed to increase the organization’s presence and the crucial role it is playing in the India-Canada corridor by disseminating information through aggressive use of digital technology. Also, we are focused on enhancing existing membership by strengthening our regional councils in Vancouver, Montreal, Calgary, Winnipeg and Halifax.
Q: In view of the huge influx of Indian students into Canada, is ICCC doing anything for them?
Broadly speaking, Indian students in Canada face two requirements – gaining Canadian experience and networking – to facilitate professional integration and finding relevant employment opportunities, to ultimately help them in obtaining permanent residency. We have initiated plans to offer free consultancy and pro-bono services to these students in certain areas by our professional members in partnership with the Consulate General of India.
In terms of their experience requirements, the Chamber can help them get industry-specific mentorship with the ICCC and through its member businesses. We can also help them to network with professionals and business leaders through our numerous industry events which can provide them leads and potential employment opportunities. I have also proposed that the Chamber waive the annual membership fee for Indian students for the first year if they commit to volunteer for a specific number of hours for the Chamber’s cause. The idea has been well received and appreciated internally and externally, and could be announced soon.
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