 "Czech Republic eyes India for investments")
Sharing that substantial opportunities exist for Indian companies Manjeet Malik , president of Indian Czech Joint Chamber of commerce said, "Czech Republic looked forward to collaborate in areas of civil aviation, defence, nuclear and solar power and mining technology. The new government coming in the centre will help to regulate the economic policies and minimise the red tapism. We are planning to set up an aerospace academy in India. It will train the pilots, help to develop new technologies for aerospace engineering."
Major imports from Czech companies to India are cars, machinery, energy facilities, turbines and chemicals while India exports car parts, tractor parts, electrical equipment, pharmaceuticals, chemical products, machinery (drives and shafts), besides iron and steel and apparels.
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Majority of the investment made by Czech companies are in Maharashtra. These companies are investing in the sectors like defence, automobile, manufacturing, energy and heavy industries. Indian companies like Reliance Industries, Thermax, Mahindra and Mahindra, L & T and Infosys have expanded their businesses in Czech Republic.
According to Malik, the current bilateral trade between the two countries is 2.5 billion euros which is expected to grow to 4 billion euros in next five years. Czech Republic's 80 per cent trade is done with European Countries.
He added, "Pune is favourite investment destination for European companies and several large European majors such as Skoda, Mercedes Benz, Siemens are already present in Maharashtra. We feel that more Czech companies would establish their manufacturing base in Pune, one of the fastest growing districts in Maharashtra . The Czech Republic is also keen on introducing, establishing and strengthening the position of the famous Czech design trade brands in the Indian market."
The estimated investments in Maharashtra is around 400 million euros.