We understand that bilateral trade between the Czech Republic and India is on the growth path in 2016. Please talk us through the major components of this growth story…

You are absolutely right, I have to say. Bilateral trade has been increasing over the last couple of months. For me it is important that it is a two-way avenue. Indian companies’ exports went up by 40 per cent in the first seven months of 2016, and that of Czech Republic firms went up by 12 per cent during the same period as compared to last year. These are encouraging figures. I would expect that bilateral trade is likely to be over USD 1.3 billion by end of this calendar year. I believe that the potential to keep momentum is there, and am confident that in days and years to come we will do substantially more.

What is the presence of Indian companies in Czech Republic like?

Reasonably significant, I would say. It is important to underline unused potential. One of the tasks that I have here is to encourage Indian giants, and also SMEs, to be ready to explore possibilities of investment and doing business. The country has come out as one of the most attractive trade and investment destinations in Europe. Billions of dollars are being invested by foreigners each and every year. They are not only new investments, there is expansion of existing ones. I am particularly pleased that we have a number of Indian companies doing well in steel, automotive sector, textiles, food processing, IT and pharmaceuticals. It is important for Indian companies to know that we provide a level playing field. In practice there is no discrimination between domestic and foreigner, in fact foreigners receive same treatment as domestic businesses. This is quite an important element. There is no obstacle to repatriate profits. We are a member of European union. The door is open, you are not looking to merely dump into a 10 million market, but getting free access to the larger market of 500 million of the EU.

Kindly let us know about the sectors that currently provide major investment opportunities for foreign investors in the Czech Republic…

Exactly those sectors where Indians are present. We are among big global automotive hubs. We have a long lasting tradition from the end of the 19th century. They benefit from single market. They produce spare parts for not only the Czech Republic, but for EU, and eventually with those countries with which EU has FTA. The IT sector has great potential. Czech Republic is not a country which is blessed with natural resources. Our major strength is our own people. IT is one of the prominent areas where we can work together. That means working with one of the local giants that has an R and D centre. It gives rise to hundreds of direct jobs. There is this whole segment related to transport engineering---whether it is automotive or civil aviation. In civil aviation we have a strong tradition of designing, constructing and exporting both military and civil aircraft. We do have modern nano and bio technologies. All these make for interesting possibilities.