Economy

Czech cos set to invest 400 mn euros in Aurangabad, Pune

Our Bureau Mumbai | Updated on March 12, 2018

Aurangabad and Pune in Maharashtra is set to get investments of around 400 million Euros over the next two years from several corporate houses in the Czech Republic, with a major focus on the automobile, energy, power and defence sectors.

India, which ranks amongst the top 12 priority countries for the Czech nation, is set to get $2 billion worth of investments over the next two years, from companies such as Bonatrans Group, Vítkovice Machinery Group, Skoda Auto, radar systems maker Eldis, data and telecommunication racks manufacturers Conteg and Linet, among several other corporates.

Czech companies like Skoda are already present in India and more companies from that country are interested in investing in India, said Jana Peterkova, Economical and Political Affairs Embassy of the Czech Republic.

The proposal was made at a meeting of members of the Engineering Exports Promotion Council with Peterkova and other officials of the Embassy.

Stating that Czech Republic was one of the ‘sweet spots of Europe’, she added that the country was also offering incentives to corporations working in the area of research and development and strategic services, such as software development. The discounted tax rate has been extended from the current five to ten years, she added, in a media statement.

Several Indian majors such as Infosys, Arcelor Mittal, Alok Industries, Spentex Industries, Glenmark Pharmaceuticals, Ashok Leyland, and Motherson Sumi Systems have already invested in the Czech Republic.

With the Czech Republic focusing on promoting collaboration with India in terms of power generation, metallurgy, engineering, chemicals, investments in health equipment as well as in environment protection would be on the rise, Peterkova added.

Published on March 15, 2013

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