Czech companies want to participate in Make in India project

The Czech Republic wants to become a partner of the Make in India modernisation programme declared by the Indian government three years ago, Industry and Trade Minister Jiri Havlicek said at the International Engineering Fair (MSV) in Brno.

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Havlicek and India's counterpart C.R. Chaudhary debated the possibilities of intensifying bilateral relations and finding joint projects. According to Havlicek, a meeting of commissions that will specify the projects will take place in the Czech Republic in January. "The sectors with the biggest potential for the involvement of Czech companies (in the Make in India project) include the aviation industry, the automotive industry, the strongly developing IT industry and services," Havlicek said.

India, which has become the partner country of MSV after five years again this year, perceives the Czech Republic as a firm part of the EU and a gateway for Indian companies to the markets of Central and Eastern Europe, Chaudhary said.

The Czech economy is in a very good condition, has the lowest unemployment in the EU and has a lot to offer to India, Chaudhary said. "Even though the entry to the Indian market is not easy, many Czech companies have branches in India and joint-ventures with Indian partners," Confederation of Industry president Jaroslav Hanak noted.

Czech-Indian trade has been relatively balanced in the past three years, with Czech exports to India lagging behind exports slightly. The turnover reached Kc30bn in 2015 and Kc33bn in 2016. This year it is expected to reach Kc34.5bn.

Czech state-run trade and exports promotion agency CzechTrade has opened an office in Bangalore this year, its second office in India after Bombay.

Source: ČTK

Tereza Řezníčková
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