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7.-11.10. 2019

International Engineering Fair

The official exhibition of India was opened by the Minister of Industry and Trade Jan Mládek

 

Minister of Industry and Trade of the Czech Republic Jan Mládek has cut the ribbon and officially opened the exhibition of India, where he greeted representatives of the Indian delegation and signed the guestbook. The exhibition presents around a dozen Indian companies at the International Engineering Fair in Brno.

Czech-Indian relations in the field of economic cooperation have been in place for a long time. India is one of our traditional and biggest trading partners in Asia with significant growth potential of mutual trade. For this reason, India has been included among priority countries of the export strategy for the years 2012 - 2020. India is part of the BRIC group, and thanks to the amount of natural resources and cheap labour, the country has great potential for further development – according to some forecasts it should become the third strongest economy in the world measured by GDP by 2050. The Indian economy has a broad industrial base that reflects efforts to achieve independence. The most progressive areas include the information technology industry.

The opening of the Indian market to foreign investors in other sectors is a positive impulse that facilitates public-private contracts, mega-investment in the development of road and rail infrastructure, building of the so-called smart cities or the promotion of renewable energy resources and a second green revolution. In September 2014, Indian government launched a campaign called "Make in India", which aims to entice companies and businesses around the world to invest and manufacture directly in India.

Czechoslovakia helped India in its industrialization and names such as Bata, Zetor and Jawa are very well known there. Regarding the Czech-Indian trade, we can say that since the beginning of the millennium, Czech exports to India have been dynamically growing; in 2008, the trade turnover surpassed 1 billion USD. After a temporary decline in mutual trade in 2012 and 2013 we are seeing a revival. Czech exports to India are contributed significantly by engineering products, as well as telecommunications equipment, organic chemicals, fibre optic, photographic materials, glass and paper products. Our imports from India are dominated by clothing and textiles, pharmaceutical products, vehicles, parts for electrical equipment, metallurgical products, chemicals, plastics, machinery parts, leather goods, coffee, tea, spices and tobacco. To support Czech exporters to India, a CzechTrade agency branch was established in Mumbai, additional CzechTrade offices are now being prepared in Bangalore, while the Czech Embassy in Delhi will be reinforced by one more place of a diplomat economist. The Ministry of Industry and Trade traditionally organizes the official Czech participation in major international exhibitions and fairs in India. This year, official exhibition has already taken place at the IMTEX International Engineering Fair in Bangalore; last year, MIT has prepared the Czech participation in specialized fairs in Bangalore (machine tools) and Kolkata (mining equipment). India has on the other hand participated as a partner country of the International Engineering Fair in Brno in 2012.

Economic cooperation between the Czech Republic and India takes place in many areas, especially in engineering. India has always been a purchaser of machine tools, power equipment and trucks. Skoda cars are fairly well placed in the Indian market and are produced in the Skoda Auto India Pvt. factory in Aurangabad and Pune. The Czech-Indian economic cooperation in the economic sphere is supported by basic contractual documents: an agreement on economic cooperation and agreements on investment protection and avoidance of double taxation. The Czech-Indian Joint Commission for Economic Cooperation, which is established by an intergovernmental agreement on economic cooperation, has specialized working groups e.g. focusing on heavy machinery.

In late January 2015, an official visit of the Minister of Industry and Trade of the Czech Republic J. Mládek to India took place, also attended by a business delegation consisting of 24 representatives of Czech companies. The importance of India is evidenced by the fact that it was the third visit of the Minister of Industry and Trade in India since October 2011. In Delhi, the Minister Mládek met with representatives of the central government and bilateral negotiations concluded by signing of a protocol of the 10th session of the Joint Czech-Indian Commission for Economic Cooperation together with Minister of State for Trade and Industry N. Sitharaman. Czech companies are expected to participate in the modernization of Indian engineering.

Date: 4 Oct 2016 08:26:00

Concurrently with

Transport and Logistics
7.-11.10. 2019


ENVITECH
7.-11.10. 2019

 

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