India-Czech relations have been expanding steadily in the last few years in many sectors, reversing the negative trend of the precious decade. Investment plans that were on the drawing board only a few years ago are now working assembly lines churning out products. A tradition of industrial projects has once again found life. At the political level, the growing frequency of interaction bodes well for future ties.
The economic partnerhip between INDIA and the Czech republic has tremendously grown over some decades. Opportunities provided by two economies makes incarnations of trade, techonlogy, investment and people to people contact between two nations. India and Czech republic have decided to further increase and diversify bilateral trade on a mutually benefical and balanced basis.
Main emphasis on the following sector :
· Chemical and petochemical
· Pharmaceutials
· Engineering especially in auto parts, spares, texile machinery, machine tools
· Infrastruture development industries like tunnels, water project
· Electonic industries
· Science technology
|
Top ten product which INDIA’s imports from the Czech Republic – In Million USD |
|||||
|
S.no |
Commodity |
2009-2010 |
2010-2011 |
% Growth |
%age share in INDIA’s total imports from the Czech Republic |
|
1. |
Vehicles other than railways or tramway |
190.32 |
199.92 |
5.04 |
29.59 |
|
2. |
Nuclear reactors, boilers and machinery |
156.57 |
199.23 |
27.25 |
29.44 |
|
3. |
Chemicals |
49.77 |
70.67 |
41.99 |
10.44 |
|
4. |
Electrical Machinery & equipment |
56.19 |
52.08 |
-7.32 |
7.70 |
|
5. |
Articles of iron and steel |
14.76 |
19.06 |
29.12 |
2.82 |
|
6. |
Hospital Furniture : Bedding, mattresses, mattress |
16.56 |
17.53 |
5.91 |
2.59 |
|
7. |
Iron and steel |
11.29 |
15.06 |
33.40 |
2.23 |
|
8. |
Optical, photographic, cinematographic measuring, Checking precision, medical or surgical instrument |
5.35 |
13.8 |
157.89 |
2.04 |
|
9. |
Natural or cultural pearls or semi-precious stone |
0.18 |
13.53 |
7512.21 |
2.00 |
|
10. |
Glass and glassware |
14.72 |
13.12 |
-10.87 |
1.94 |
|
Top ten product which INDIA’s exports to the Czech Republic – In Million USD |
|||||
|
S.no |
Commodity |
2009-2010 |
2010-2011 |
% Growth |
%age share in INDIA’s total imports from the Czech Republic |
|
1. |
Articles of iron and steel |
29.48 |
45.94 |
55.84 |
21.29 |
|
2. |
Electrical Machinery & equipment |
18.3 |
37.43 |
104.61 |
17.35 |
|
3. |
Chemicals |
10.45 |
24.72 |
136.56 |
11.46 |
|
4. |
Nuclear Reactors, boilers, machinery |
8.31 |
17.56 |
111.32 |
8.14 |
|
5. |
Vehicles accessories |
41.74 |
15.76 |
-62.24 |
7.30 |
|
6. |
Cotton |
11.29 |
11.22 |
-0.68 |
5.20 |
|
7. |
Pharmaceutical Products |
14.22 |
10.81 |
-23.98 |
5.01 |
|
8. |
Misc. articles of base metal |
2.32 |
5.76 |
147.72 |
2.67 |
|
9. |
Apparel & Clothing accessories |
6.4 |
4.49 |
-29.88 |
2.08 |
|
10. |
Clothing Accessories not knitted |
3.35 |
4.44 |
32.34 |
2.06 |
Agreements signed between Czech Republic and India
1966: Agreement on the use of Nuclear energy for peaceful purpose
1973: Agreement on scientific, technical and industrial cooperation
1978: Agreement on cooperation in sea transportation
1993: Trade agreement between the Government of the Czech Republic and The Government of the Republic of INDIA
1998: Bilateral investment Promotion and Protection Agreement (BIPPA) ratified on 6/2/98
1999: Double taxation Avoidance Agreement (DTAA) w.e.f 2000
2003: Agreement on Defence Cooperation between the Government of Czech Republic and the Government of the Republic of India
2010: Social Agreement between India and Czech Republic
2010: Agreement on Economic cooperation between the Government of the Czech Republic and the Government of the Republic of India
