Home / Knowledge / News / Bilateral trade with Czech Republic crosses US $1 billion
Bilateral trade with Czech Republic crosses US $1 billion
18
Nov '08
Shri Kamal Nath, Union Minister of Commerce & Industry, has stated that there is a need to develop diversified economic relations and at the same time continuous efforts are needed at bilateral and multilateral levels.

During his bilateral meeting with Mr. Martin Riman, Czech Trade Minister, here today, he informed that today our bilateral trade has crossed US $ 1 billion and is increasing rapidly.

Speaking on the present global financial crisis, Shri Kamal Nath stated that it is a global challenge; however, at the same time it provides an opportunity to architect a new global financial system. He further emphasised that India's economy is domestic demand driven and, therefore, there is lesser impact of the prevalent global recession. Yet it is taking away a good one-percentage point from our GDP, which is now estimated to grow this year between 7–7.5%.

“We have taken a number of steps to ease credit flows and more steps on slackening interest rates, making fresh investments in infrastructure sectors, reducing inflations, rejuvenating market sentiments, boosting investor confidence and supporting export oriented industries are in the pipeline”, he said

Major items of Indian Exports to Czech are: Iron and Steel, Articles of apparel and clothing accessories, Textile yarn, fabrics, made-up articles, Electrical machinery, apparatus and appliances, Power-generating machinery and equipment, Medical and pharmaceutical products.

Major Items of Indian Imports from Czech are: Machinery specialized for particular industries, Power-generating machinery and equipment, General industrial machinery and equipment, Organic chemicals, Metalworking machinery.

There is growing Indian investment in Czech Republic, which includes the entire spectrum from steel to IT to truck manufacture. Indian companies are also present in automobile spare parts, tea, textiles and pharmaceutical sectors. During this year, some new Indian companies have established presence in Czech Republic, apart from Mittals, TATA, Infosys.

As regards the Czech investment in India, Skoda auto is a success story. India has emerged as a global hub for supply of spare parts for Auto industry. Reliable suppliers are available in India for increased sourcing by Skoda Auto for their Indian operations as well as global exports.

Press Information Bureau

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search