Skoda leads Czech industries

 

SKODA AUTO LOGO

 

The Czech Republic is seeking to become a strategic partner of India and work jointly for its economic development, especially through industries such as IT, logistics and manufacturing.

Stating this, Tomáš Petříček, Minister of Foreign Affairs of the Czech Republic, said “We are looking for new opportunities and partnerships.”

Petricek led a business delegation comprising representatives from aviation, defence, aerospace, shipments, pharmaceuticals, real estate, and automobiles.

Trade between the two countries was growing over the years. At present, it was US$1.5 billion, added Martina Tabuerova, Czech Republic’s Deputy Minister for Industry and Trade. The economic partnership between India and the Czech Republic was US$688 million in 2018-19

She cited the example of Skoda in the automobiles sector which sells 70,000 cars in the Indian market.

The Czech Republic held B2B meeting with the PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi on 16 Jan 2020.

Welcoming the delegation PHD Chamber President Dr D K Aggarwal highlighted that the scope for mutual collaboration between the two countries was immense and poised to expand on the strength of the changing economic environment in the country today.

Relaxation of FDI norms and the dynamic policies of the government would enable the two sides to expand business cooperation, said Dr Aggarwal.

A focused and sector-specific approach can help India and the Czech business ventures establish joint ventures and technology transfers.
D K Aggarwal invited the Czech companies to look at the country as an investment destination.

He assured that PHD Chamber will offer every help possible to the Czech investors.

The Czech companies are emerging as significant investors in the energy and finance sector. They are also bidding for infrastructural and industrial projects in India, Dr Aggarwal noted.

The thriving sectors for bilateral cooperation are engineering, especially in auto parts, spares, textile machinery, machine tools, information technology, medical equipment, chemicals and pharmaceuticals, biotechnology and nanotechnology, science, and technology, which offer opportunities for the flow of trade and investment, said Dr Aggarwal. fiinews.com

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