CZECH BUSINESS INCUBATOR IN INDIA
Business and investment cooperation between Czech and Indian companies has gained at an unprecedented speed. Light engineering ...
Business and investment cooperation between Czech and Indian companies has gained at an unprecedented speed. Light engineering, the aviation industry, medical devices, machine tools, and also waste management projects, are areas where our companies are successfully conquering the second most populous country in the world.
The Association of Small and Medium-Sized Enterprises and Crafts CZ (AMSP) has therefore decided to build the first private incubator for our businesses in Bangalore. This follows on from the successful MeoHub project, which we put together two years ago with Meopta for our companies in New York. The Czech business incubator in India was launched on the occasion of the Czech business mission to India, which AMSP organised in 2017 and where representatives of companies negotiated a number of orders with Indian partners. At the same time, AMSP together with Komercní Banka presented an analysis of business and investment activities between the Czech Republic and India.
The latest data, which summarizes the cooperation between Czech and Indian businesses, are very favourable. The growth in exports from the Czech Republic to the second largest country in Asia has increased year-on-year by 13.3%. The Czech Republic does more than one-third of its export to India in mechanical engineering and a further 19% in the automobile industry. And with a 42.6% share, the Czech Republic has also become the undoubted champion among countries in the Visegrad Group. Within V4, Polish export accounts for 36.2%, Hungary 16.6% and Slovakia 4.6%. Imports from India are also growing at a promising speed. While overall imports from all countries to the Czech Republic are stagnating, the growth of imports from India has gone up by 7.9% compared to last year.