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4.-7.10. 2022

International Engineering Fair

The Indian State of Jharkhand presents investment opportunities in Brno


India is currently the world's fastest growing economy, and the state of Jharkhand with 35 million inhabitants and economic growth of 8.6% is one of the most progressive states in the country. "We are the second fastest-growing economy in terms of economics. In recent years, we've focused a lot on creating favourable conditions for investors," said Raghubar Das, Prime Minister of the State of Jharkhand, at a press conference in Brno today, signing a Memorandum of Understanding with Home Credit.

India consists of 29 states and 7 federal territories. Each area boasts a variety of investment opportunities that depend on many factors, ranging from geographical location, natural resources, qualified workforce and technological progress. Jharkhand is fortunate to have 40% of all Indian mineral deposits. It is also a very young region, since 60% of the population are the young generation. "We therefore pay close attention to the training of young people in technology," the prime minister said. The current inspiration comes also from the national project "Make in India," in which Jharkhand's political representation responded to the local campaign "Make in Jharkhand" and focused on supporting local production.

The current industrial production in Jharkhand has something to follow up on. Already in 1904, the Tata family built the first steel factory and later also the well-known Tata Motors car factory. Also, Czechoslovak-Indian cooperation left a visible trace in Jharkhand sixty years ago. "For example, the capital of Ranchi is home to one of our largest engineering firms, H.E.C. At the time of its foundation, a machinery plant and a foundry were established with assistance from Czechoslovakia. The government is now helping to modernize the company, with a joint Czech-Indian team again involved. In this context, we want to sign two more contracts with the Czech Republic," said Raghubar Das, who invited Czech entrepreneurs to visit the Indian Pavilion at the Brno Exhibition Centre and the Indian State itself.

The EEPC INDIA chair T S Bhasin, who spoke both about exhibiting companies and about the development of mutual trade between the Czech Republic and India, was also present at the afternoon press conference today. The ambassador of India to the Czech Republic H.E. Krishan Kumar followed up on this information, stating that "India uses only 0.5% of Czech imports. I see great business potential here," said the Indian ambassador, who, as another positive sign of promising cooperation, noted the current growth of the Czech economy. As a historian, he recalled in his speech the bilateral relations even from more distant time when silk fabrics and spices were imported into the Czech lands from India. "In the 1920’s, brands such as Bata or Jawa were household names in Indian society. Before the Velvet Revolution, Czechoslovakia was the second largest importer of our defence industry," he said, with the participation of almost 90 companies at the International Engineering Fair being a welcome opportunity for the future development of mutual trade.

Date: 9 Oct 2017 17:35:00

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