India’s exports
to the Czech Republic are estimated to have grown by over 32.66%
during the current financial year 2002-03 (April-October), having
increased to US $ 31.14 million from US $ 23.48 million in 2001-02.
This was indicated by Shri Dipak Chatterjee, Commerce Secretary,
here today at a meeting with Mr. Jiri Rusnok, the Czech Minister
for Industry & Trade. Noting that there is a large scope
for diversifying Indian exports to the Czech Republic particularly
in the non-traditional and emerging or niche product group sectors,
both sides agreed to deepen cooperation in the areas of drugs
& pharmaceuticals and heavy engineering technology to increase
the current level of bilateral trade.
During the meeting,
Shri Chatterjee pointed out that India had core competence in
drugs & pharmaceuticals sector and urged the visiting Minister
to take advantage of it. He also stressed that many Indian companies
like Ranbaxy, Cipla and Himalaya Drugs had made good beginning
in this regard.
Of the 12 East
European countries, the Czech Republic ranks second in bilateral
trade relations with India in terms of country-wise destination
of the total trade turnover. The Czech Republic will be a member
of the European Union (EU) by the year 2004. Imports from the
Czech Republic are also showing an increasing trend during the
first 7 months of 2002-03, although the current level of two
way trade is way below the potential.
Mr. Rusnok is visiting
India at the invitation of the Minister of Heavy Industries
& Public Enterprises at the head of the Czech official and
business delegation. The Czech delegation is visiting India
to participate in the India Engineering Trade Fair (IETF) which
is being organised by the Confederation of Indian Industry (CII)
at Pragati Maidan from 5th to 8th February,
2003. During the meeting with the Commerce Secretary, Mr. Rusnok
was accompanied by the Czech business and industry representatives.
