India-Czech Trade Hits $4 Billion as Firms Sign New MoUs

Czech firms sign MoUs with Indian companies across transport, automotive, railways, aviation and healthcare as bilateral trade reaches around USD 4 billion, with both countries exploring new investment and industrial partnerships.

Czech companies have signed several memorandums of understanding (MoUs) with Indian businesses across automotive, transport, aircraft manufacturing, railways and healthcare, strengthening industrial cooperation between the two countries. Bilateral trade between India and the Czech Republic stands at approximately USD 4 billion, with significant opportunities for further expansion, Czech First Deputy Prime Minister and Minister of Industry and Trade Karel Havlíček said.

Speaking on the sidelines of the India-Czech Republic Business Forum in New Delhi, Havlíček described India as a key economic partner for the Czech Republic in the region. He said the agreements signed by the business delegation would help establish partnerships, explore new markets and create opportunities for companies in both countries.

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The Czech delegation’s visit aims to strengthen commercial ties and expand the presence of Czech businesses in the Indian market. According to the Czech Ministry of Industry and Trade, agreements signed during the first day of the mission include cooperation in transportation, nuclear energy and railway infrastructure. These partnerships cover technology transfer, technical support, distribution, servicing and joint manufacturing initiatives.

Havlícek also highlighted the potential of the proposed India-European Union free trade agreement, saying it could create a market covering more than two billion people and provide fresh opportunities for exports and investment. He noted that European companies are looking for new markets and that stronger commercial engagement with India could benefit businesses on both sides.

Jan Rafaj, president of the Confederation of Industry of the Czech Republic, said the agreements aim to improve market access, strengthen industrial cooperation and help companies identify business partners and investment opportunities. He also highlighted prospects for collaboration in heavy vehicles, radar systems, drone technologies, cyber security and semiconductors.

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The India-Czech Republic Business Forum provided a platform for business-to-business meetings and discussions on expanding industrial partnerships. The Czech delegation’s four-day visit, from October 12 to 15, includes further meetings in Bengaluru and Mumbai, focusing on technology, manufacturing, infrastructure, aviation and investment.