Message from H. E. Mr. Miloslav Stašek, Ambassador of the Czech Republic to India

The Czech Republic – your business partner

The commercial and economic cooperation between India and the Czech Republic has had long and successful tradition. The Consulate of former Czechoslovakia in Bombay was opened in 1920, and since 1931 there has been the Embassy of Czechoslovakia that is now the Embassy of the Czech Republic. The trade exchange has played an important role in the bilateral relations of both countries. In 1950ʼs, Czechoslovakia supported India in its industrialization process, and since then the Czech brands Baťa, Škoda, Zetor or Jawa are well known in India until now. Today, India is the second fastest growing economy in Asia, and the mutual trade between the Czech Republic and India is thus also doing very well. In 2013, the commodity exchange between the two countries reached 1,2 billion USD. However, this is just a small portion of the overall potential that the possible trade and industrial cooperation between the Czech Republic and India can offer.

In order to reach its economic development goals, India must invest massively into its infrastructure, energy and water management technologies as well as other fields. This offers a great opportunity for Czech companies to take part in this process. On the other hand, the same can be said about Indian companies, who are well aware of the opportunities in the Czech Republic. There are big Indian investments in the Czech Republic (Mittal Steel, Infosys, Ashok Leyland, Lloyd Electric and many others), and for the time being mainly Indian companies from IT business are interested to increase their investments in the Czech Republic.

The cooperation between India and the Czech Republic can be further developed in the traditional fields as engineering, energy, automotive or water management industries. The cooperation in the defense industry is also starting to revive. However, there are new fields such as services, information technologies, renewable energy sources, biotechnologies and nanotechnologies, pharmaceutical industry, design and research and innovation which are to be also developed. For this reason, it is a great honor for us to take part in the India – Central Europe Business Forum organized by the Federation of Indian Chambers of Commerce and Industry in cooperation with the Ministry of External Affairs and the Ministry of Commerce and Industry. I firmly believe that this event will open new opportunities for both Indian and foreign trading partners.
March 2014