Czech Republican companies plans to invest $2 bn in India by 2015: EEPC

NEW DELHI: Czech Republican firms are planning to invest $2 billion in India by 2015 in sectors like automobile, energy and infrastructure, Engineering Export Promotion Council (EEPC) today said.

The plan was shared during the meeting of EEPC members and officials of the Embassy of the Czech Republic, including Jana Peterkova.

"Czech Republic is to invest $ 2 billion in India in the next two years. Czech Companies like Bonatrans Group, Skoda Power, Skoda Auto and Eldis are some of the companies that have plans to invest heavily in India," EEPC said in a statement.

It is estimated that in Maharashtra alone there would be investments of 400 million euros in the next two years, it said.

"India ranks amongst the top 12 priority countries for promotion of mutual commercial, investment and other economic activities. Czech companies are emerging as major investors in automobile, energy, infrastructure and large industrial projects in India," it quoted Peterkova as saying.

Inviting investments from India, Peterkova said that the central European country is offering incentives to corporations working in the area of R&D and software development in a form of discounted tax rate.

Indian companies such as Infosys, Alok Industries, and Ashok Leyland have already invested in the country.

"We strongly believe that other Indian companies will also follow," she added.

She said that Czech Republic is focusing on promoting collaboration with India in power generation, metallurgic, engineering, chemical industry and health equipment as well as in environment protection.

Czech Republic has collaborated with EEPC India as partner country for a three-day exhibition to be held on March 14-16 in Mumbai.

A 100-member delegation led by Czech Republic Trade and Industry Minister Martin Kuba is in India to discuss ways to further strengthen economic relations between the countries.