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| Indian Commerce and Industry Minister Anand Sharma and Czech Republican Prime Minister, Mr. Petr Nečas, at Brno, Czech Republic |
Brno, Czech Republic: In a bid to double the bilateral trade to $2 billion in the
next three years, India and Czech Republic have agreed to increase cooperation
in engineering, life sciences and pharmaceuticals and to integrate the economic
aspects of both the nation.
Indian Commerce, Industry & Textiles minister Anand
Sharma, and his counterpart of Czech Republic, Mr. M Kuba jointly inaugurated
the "India Show" in Brno, Czech Republic at the MSV Fairground on the
morning of September 10, 2012.
Commerce and Industry Minister Anand Sharma, who was here
for a three-day visit, met Czech Minister of Trade and Industry M Kuba and
discusses ways to enhance economic engagement between the nations.
Anand Sharma led a high level business delegation
participating in the India Show. Over 135 companies belonging primarily to
India’s engineering sector are participating, showcasing their strengths and
capabilities with respect to Indian products, technologies and services during
this entire week.
These companies represent the entire scale of India’s
engineering strengths; encompassing large, medium and the small scale sectors.
Sharma called on the Czech President Mr. Vaclav Klaus, and also on Czech Prime
Minister Mr. Petr Necas. Minister Sharma discussed measures to deepen bilateral
engagement with these Czech leaders. Discussions focussed on sectors of mutual
interest such as mining, auto, heavy industries, power generating equipment and
technical textiles.
Mr. Sharma held a bilateral meeting with Czech Minister of Trade and Industry
Mr. M Kuba during which both Ministers agreed to double bilateral trade in 3
years to reach the level of two billion dollars.
Later in the evening, Anand Sharma participated at the
Opening Ceremony of the MSV International Engineering Fair along with Czech
President and senior members of the Czech government and dignitaries.
Addressing the ceremony, Sharma said, ‘India enjoys the
unique advantage of having multiple drivers of growth—demographic, investment
(backed by domestic savings), domestic consumption, as well as exports and
ample scope for FDI – all within a pluralistic and democratic system.
Sharma said India’s plans for mammoth infrastructure
investments in the immediate future offers huge opportunities for Czech
expertise in power generating equipment, mining, automotive and transport
sectors.
He also stated that at a time when the world is in the midst
of a global slowdown, countries must desist the temptation of erecting newer
trade barriers which will further deepen recession and delay global recovery.
Sharma exhorted the engineering leaders from the Czech Republic and all other
participating countries at the International Engineering Fair to visit the
India Pavilion and look at the immense opportunities that exist in expanding
economic co-operation with India particularly, in the engineering and the
manufacturing sector.
The “India Show" (from 10-14 September, 2012) has been organised jointly by
the Ministry of Commerce and Industry and Engineering Export Promotion Council
(EEPC) India, the show has exhibits from various sectors of Indian engineering
showcasing the engineering transformation that is currently in process in
India.