No. PR- 048
July 8, 2021
New Delhi
Indian & Czech Republic should explore potential partnerships for Future Growth & Development of SMEs
India and the Czech Republic have been closely involved with each other for years in multi-facet ways and will continue to do so in the times to come mentioned H.E., Mr. Milan Hovorka, Ambassador, Embassy of Czech Republic, India in a webinar organized by PHD Chamber of Commerce and Industry (PHDCCI) on Global Trade and Investment Opportunities for Indian Industry in the Czech Republic.
H.E. Mr. Milan Hovorka while sharing optimistic relations shared by India and the Czech Republic emphasized that we need to think about potential partners in terms of trade and investment. He talked about the Czech Republic investment environment that is easy, effective, and offers a level playing field for business.
H.E. Mr. Hemant H. Kotalwar, Ambassador, Embassy of India, Czech Republic mentioned that the momentum between India and the Czech Republic has reached a new heights aided by the efficient steps undertaken by both the government, including free trade agreements and other funds towards digital transformation and green technologies. With India’s step towards self-reliance, the production linked incentive scheme is the major force for the attraction of global investment.
Mr. Martin Partl, Director of Foreign Activities, Czech Invest discussed the trade and investment opportunities in Czech Republic in sectors like AI, ICT, automobile, healthcare, pharmaceuticals, aerospace, defense, mobility, Ecotech, and space. He mentioned that the Czech Republic has a highly educated and skilled workforce; a functional and cooperative institutional framework; great academic potential in R&D projects; a transparent and predictable business climate and, close links with industry, universities, and business.
Mr. Jakub Lichnovský, Supervisory Board Member, Association for Foreign Investment (AFI), Czech Republic discussed the Czech Republic investment environment.
Mr. Jan Skotak, Senior Regional Head of Infosys, Czech Republic shared his success story while doing business in the Czech Republic discussed the various business projects and programs undertaken by the government which has benefited the overall business development of the company.
Mr. Srinivasan Tharuvai, CFO, Varroc Group, India shared his success story while doing business in the Czech Republic opined that the Czech Republic offers diversified business in developed and emerging markets; a comprehensive range of engine agnostic products; diversified customer base, and presence in fast-growing India’s 2W and global PV lighting segment. He also discussed the support from the Czech Republic government in terms of tax incentive schemes.
Mr. Rahul Aggarwal, Director, Crescita Consultancy deliberated on the sector which has been affected and benefitted amidst the pandemic, mentioned that supply and demand will increase in the coming months and India’s relation with the Czech Republic will increase in the coming times.
Mr. Sanjay Aggarwal, President, PHDCCI in his presidential address deliberated upon changes made in the outbound investments done by India in terms of sectoral spread and composition. He also deliberated upon the long-term relationship shared between India and the Czech Republic that has grown in the past decade in terms of trade and business exchange. Products like iron, steel, medicine, clothing, apparel, electrical machinery and equipment, chemical products, and many more are the main products for trade between the two nations. He also mentioned that Czech Republic companies are investing in sectors like energy, auto parts, textile machinery, machine tools, IT, medical and chemical equipment, bio and nanotechnology, and many more.
Mr. Purrshottam Bhaggeria, Chair, International Affairs Committee for Europe & CIS, PHDCCI deliberated about the opportunities and incentives provided by the Czech Republic economy to Indian investors.
Mr. Vikram Gera, Co-Chair, International Affairs Committee for Europe & CIS, PHDCCI while proposing the formal vote of thanks to all the delegates and participants, mentioned that PHDCCI aims to foster international relations in social, cultural, and economic fields where enterprises, government, and international organizations interact to promote and strengthen cooperation. PHDCCI will work towards stronger collaborations with the Czech Republic and will constantly strive to identify new areas for cooperation and ensure a smooth flow of trade investment, joint ventures, and technology.
The webinar was moderated by Mr. Naveen Seth, Assistant Secretary-General, PHDCCI, and was attended by many industry stalwarts across the globe. PHDCCI’s webinar was supported by DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R E ROGERS INDIA PVGT LTD; Ajit Industries; Synergy Environics; Timberworkz; Jindal Stainless; P S Bedi & Co; and IFFCO.
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Media Division
PHD Chamber of Commerce and Industry