Thank you.
I want to respond in part to some of the questions raised about the progress we've been making by stating that Canada's trade with India was only $1.7 billion back in 2010. In the two years from 2010 to 2012, we've tripled our trade to $5.2 billion.
Last year, we signed a nuclear cooperation agreement, which will open up opportunities in the nuclear sector. If the foreign investment protection agreement gets signed, that will provide the ground rules for more foreign investment, and I understand that it's very close to being completed. If the CEPA, the comprehensive economic partnership, comes along, I think we'll still be well within the ballpark of reaching our objective of $15 billion by 2015. If we can triple in two years, then certainly we're not that far off.
I was recently reading a report by McKinsey & Company highlighting the fact that there are 500 million people under the age of 25 in India and demand for 1,000 universities and 40,000 community colleges in the next decade. It also mentioned that India has the fastest-growing middle class in the world, at 300 million. These are people with disposable income who want, in part, Canadian products and services.
There's no doubt that India's future is bright, but what we're discussing here, in part, is how to get it right, so my questions to you, Mr. Sood and Mr. Madan, relate to the comments you made earlier in your presentations.
Mr. Sood, you mentioned that a lot of Canadian companies are doing quite well in the non-regulated segments. I'd like to understand how that's possible when Mr. Madan is saying that the bulk of foreign investment in India must go through Mauritius or Cyprus, or a third country that you mentioned, because there are strict limitations on foreign investment. I'd like both of you to respond to that.
In addition, Mr. Madan, you also mentioned that Canadian companies can't buy Indian securities directly, but I have first-hand knowledge that Canadians can buy securities directly, maybe not through a corporation, and maybe just as an individual, as you said they could do for real estate.
Those are my questions. I leave you the time to answer those questions.