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MSV
1.-5.10. 2018

International Engineering Fair

India is attracting Czech investors

 

The Czech-Indian Business Forum at MSV 2017 was about new possibilities of cooperation, including the involvement of Czech companies in the "Make in India" programme. Significant opportunities are also offered by the defence, aerospace, automotive, information technology, energy and mining sectors.


"The MSV is unique to India. We are here again after five years as a "partner country" and we have seen that the extent of the fair has grown over this period. India has a significant presence of trade and industry representatives here, more than 80 exhibitors have arrived from different parts of the country," said C.R. Chaudhary, Minister of Trade and Industry of the Republic of India. "The annual holding of such an impressive fair certainly strengthens the economic ties of Central Europe with the rest of the world. I am convinced that India's participation in the MSV, along with the bilateral negotiations we are conducting here, paves the way for deepening trade and investment ties between India and the Czech Republic," the Indian minister added. He also welcomed the hospitable acceptance of the Indian delegation and named the Czech Republic as the gateway to the European Union and to the Central and Eastern European region. He recalled that trade between India and the Czech Republic increased to $ 1 billion last year.

The meeting of the Czech-Indian Business Forum was preceded by the meeting of Minister C.R. Chaudhary and his Czech counterpart Jiří Havlíček, where mutual interest in deepening economic co-operation was confirmed. "India is a partner country of MSV after five years, which is why we have to evaluate our economic relations so far and discuss what we can do for their further development. We have agreed that there are a number of exciting industries where our companies can work together. First of all, it's the "Make in India" government programme, which we would like to join. We see great opportunities in the defence and aerospace sectors, as well as in the automotive industry and in the highly evolving IT and services industries," Minister Havlíček said at the end of the meeting. He also publicly applauded the participation of Indian companies in this year's MSV as a significant impetus for the further development of mutual relations.

The conference was organized by the Confederation of Industry of the Czech Republic, which puts great emphasis on co-operation with India because the volume of mutual trade and investment is far from fulfilling the potential given by the size and growth of the Indian market. This could change with the "Make in India" programme that will allow foreign investors to hold up to a 100% stake in Indian companies if they market goods under the Make in India brand. Today, the manufacturing industry in India generates only about 18% of GDP, and the government wants to increase this share over the next five years to 25%. The condition for industrial development is also the relaxation of labour market regulation and the improvement of transport infrastructure and energy supply. It is in these areas that Minister C.R. Chaudhary sees opportunities for cooperation with Czech companies.

Trading with India is a great opportunity for our companies, but at the same time they have to cope with local differences and obstacles. According to experts from CzechTrade it is necessary to prepare for long negotiations, thoroughly pre-examine the market and ensure the presence of the company’s own sales representative. And it is not recommended to underestimate neither Indian partners nor the Indian market – only the top products and technologies will succeed. Together with GDP growth - 7.8% last year – living standard and with it the demands of the population are rising in India. The middle class is growing at a tremendous pace and the high proportion of children and young people is evidence that India is also the future and it is worthwhile to approach the local market with a long-term vision.

Datum: 11 Oct 2017 12:32:00

Concurrently with

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