Second Meeting of India-Slovak Joint Business Council
November 28, 2001, New Delhi

Address by Mr N M Kejriwal, Chairman, Indian Section, India-Slovak JBC

Ladies & Gentlemen,

It is a great privilege for me to extend a warm welcome to all of you who are present here this morning to join us at the Second Meeting of India-Slovak Joint Business Council. The presence of a large number of business magnates from Slovak and India today representing diverse sectors of industry & economy and Senior Officials of Government of India, is a matter of great satisfaction. It is a fitting start to the new environment for business and government working closely towards joint partnership for growth and well-being of all its people.

Rapid strides in Science and Information Technology has shrunk the world making it a global village. This globalisation has brought about a remarkable integration in the world markets, in trade, technology and capital. This has in turn been facilitated by liberalisation and economic reforms sweeping across continents.

India occupies an important position in international relations because of its human and economic potential and considered by Slovak as one of the countries of its priority interest on the Asian Continent.

Slovak has enjoyed warm and friendly relations with India since it was part of the erstwhile Czechoslovakia. A plaque in the City Square of the capital of Slovak has commemorated Jawaharlal Nehru's visit to Bratislava, accompanied by Indira Gandhi, in 1938. President Zail Singh visited the Slovak Republic in 1983.

Even despite the great distance between us, our countries have much in common. Both have deeply rooted democratic values. Although the countries have different histories, both are undergoing a period of economic transformation. The aim of their radical economic reforms is to successfully keep up with global economic trends and maintain the national economic competitiveness within the framework of globalisation.

Slovak is multifaceted and enchanting country which possesses a rich cultural and historical patrimony. With its dynamic and efficient economy and large industrial base, Slovak preserves its natural riches, thus providing deep attachment to ecological issues and therefore, its modernity. Explicit and specific measures aimed at decreasing the fiscal deficit are undertaking by the Slovak Government.

Friends, in this century, we are poised for a new vision of synergy between Slovak and India. India has been cooperating with Slovak in its drive to build a market economy by extending its support and assistance in various fields of human endeavor.

The objectives of India and Slovak Republic are common and their roles can be both complementary and supplementary in their efforts to refurbish their respective economies in dire need of upgradation of technology, modernisation of plant and machinery in the industrial sector, strengthening of basic infrastructure are the prerequisites for imparting strength and growth to the economies of both the countries. Emphasis ought to be made on devising ways and means for tapping the complementarities which exists between India and Slovak for mutual advantage. We in India business need to plan strategies so as to maximise its exports to Slovak in different sectors.

Given the present stress by the Slovak Government on encouraging and assisting the development of private sector, considerable scope exists for cooperation in industrial front, especially in the sectors of pharmaceuticals, sugar, leather products, textiles & garments, electronics, heavy and light engineering, passenger vehicles, pepper & pulp manufacturing, among others. The involvement of Indian companies in the development and rehabilitation of Slovak's economic infrastructure also needs to be emphasised upon.

As FICCI's expertise lies in value creation, ground level fructification of solid business, trade enhancement and facilitation of 'real investment flows', it would also like to see Indian-Slovakian partnership focused on sharing of expertise in the wide areas of mutual cooperation. Sir, May I submit that FICCI through its platform of Joint Business Council (JBC) is willing to humbly work in creating these long-term bridges.

I am sure, with concentrated efforts from both sides, we should be able to scale newer heights in our bilateral relationships. Today's interaction, I hope, would create a greater awareness about the business opportunities in India and Slovak.

Thank you.