INDUSTRY INSIGHTS
driven by private sector, the government will do its
bit to ‘crowd-in’. In undertaking all these reforms,
the government will work with an open mind in
consultation with all stakeholders.”
Falling in line with Modi’s vision and plans for
India, the Czech Republic has revealed its motive
to partner with Indian MSMEs for skill-transfer
and digitalisation.
POLICY-CHECK
The Ambassador of Czech Republic to India,
Milan Hovorka, has declared the above plan,
also mentioning that the Czech Republic is
aiming to receive over 1,00,000 Indian tourists by
2019–20. In 2014, a report by the Confederation
of Indian Industry (CII) and Deloitte highlighted
how Central European countries have been
important trade partners of India over the years.
The volume of the total trade between the two
regions has grown exponentially over time, even
during adverse global economic conditions. To
add more traction to this historic growth that both
these countries witnessed in the last decade,
CII constituted a regional committee on Central
Europe. This committee especially looks at
strengthening India’s engagement with Central
Europe through two-way trade and investment,
and it aims to develop ‘Brand India’ in the Central
European region.
To raise the bar for such strategic tie-ups, an
official 10-member small and medium enterprises
(SME) delegation from Czech Republic has now
submitted its proposal to seek partnerships with
Indian SMEs in the sectors of textile, travel and
hospitality, biotechnology, and e-commerce.
CENTRAL EUROPEAN
COUNTRIES HAVE BEEN
IMPORTANT TRADE
PARTNERS OF INDIA
OVER THE YEARS.
While announcing the deal, Vinod Kumar,
President, India SME Forum, mentioned that
the scale of digital transformation that this
country presents is tremendous and that greater
digitisation of MSMEs has the potential to triple
the sector’s GDP contribution, taking it way
above the current eight per cent. This will also
heighten employment opportunities for India’s
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