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

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search