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Wednesday, January 28, 2015

Czech Republic & India urged to tap business prospects in energy, technology

R&D and tourism sectors to bolster trade & investment figures 

Trade between India and Czech Republic has experienced a 10-fold growth in the last 20 years and it stands at $ 1.2 billion between. However, there is a much higher potential from growth which can be achieved by engaging in mutual partnership and cooperation not just in the traditional trade items but in areas such as environment protection, water treatment plant, hydro power, energy, industrial technology, petrochemicals, medical equipment and tourism. 

This was stated by Mr. Jan Mládek, Minister of Industry and Trade, The Czech Republic at the Indo-Czech Republic Business Forum industry interaction organized by FICCI in association with the Czech Chamber of Commerce and the Embassy of Czech Republic. 

Mr. Mládek said that Czech Republic could well comprehend the new Indian government's initiatives of ‘Make in India' and ‘Clean India'. Czech Republic, an industrial nation known for its high quality products and services, understands India was on the right path with its ‘Make in India' campaign and would support its cause. The other initiative ‘Clean India' was something Czech Republic could associate well with as the country had made substantial progress in this area. 

He stated that the Czech Republic was now a part of the European Union and hence, it has become a gateway for accessing European markets. He urged the Indian businesses to take full advantage of this opportunity. 

He stated that tourism between the two countries has also been flourishing with considerable pace in recent months. 

The shooting of a Bollywood film in July 2014 on historical locations of Prague has generated interest in India about the Czech Republic and increased number of Indian tourists since. Goa and beaches in South India were most popular tourist destinations for Czechs in India.
Mr. Mládek said that the Prime Ministers of Czech Republic and India were also contemplating to visit the respective nations to take forward the agenda of business cooperation to the next level. 

Ms. Sujata Mehta, Secretary (EPA & ER), Ministry of External Affairs, Government of India, said that bilateral relations between India and the Czech Republic span almost across all sectors and the traditional partnership has now moved to synergy based partnership. The two countries share common global issues and also follow similar approaches to deal with them, which makes them even closer. 

Ms. Mehta invited the Czech businesses to partner with India in its mega infrastructure projects that were coming up across in country. Highlighting other areas of cooperation, she said that India could benefit by partnering in R&D, technology, power and transportation with Czech Republic. 

Ms. Mehta said that for the Czech Republic also there were immense opportunities of investment in infrastructure and services. The two-way flow of trade could take the two-way trade to new heights and be mutually profitably to both, she added. 

Mr. Miloslav Stašek, Ambassador, Embassy of the Czech Republic to India, said that to boost trade and investment, there was a need to enhance connectivity between important business centres of India and the Czech Republic. He added that FICCI had supported the business delegations from the two sides immensely and assured Indian businesses that Czech Republic was serious in its intent to raise the level of cooperation and business between the two countries. 

Mr. Borivoj Mináø, Vice President of the Czech Chamber of Commerce, said that the Czech Republic was known for its good business reputation, quality products and services and professional approach. The two countries, he said, must go beyond regular business of export and import of goods and services to investment and mutual cooperation. 

Mr. Rakesh Bakshi, Chairman, FICCI Task Force on Wind Energy & Chairman and Managing Director, RRB Energy, said that there were numerous sectors of cooperation open for India and Czech Republic and energy could be one area of such partnership. Czech Republic has done a substantive work in the area of clean and green energy production and India could do well by adopting such technology to increase the share of renewables in its energy mix. He added that the other significant areas were railways, defence and insurance, where the Indian economy had opened up its FDI regime. 

At the industry interaction three agreements were signed between Aircraft Industries (Mr Oldrich Kozicek, Commercial Director) and Bengal Aerotropolis (Mr. Partha Ghosh, Managing Director) – Agreement on delivery of Aircraft L410; PBS Velká Bíteš (Mr. Milan Mocholan, CEO) and Unique Aviation Services PVT (Mr. Samarendra Hota, Managing Director) - Product Support Partnership Agreement – Agreement on technical support of company PSB Velká Bíteš in India and IWET (Cz, Mr. Nabhash Chandra Singh) and PME (Mr. Anil Aggarwal) – Agreement on cooperation in distribution and production of equipment for Water Purification. 
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