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: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Aditi Somani
Aditi Somani

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search