India-Slovakia Economic Ties Strengthen: Bilateral Trade Grows, Collaboration Expanded

Kolkata, Mar 20 (PTI) Slovakia considers India an important partner for economic cooperation and is looking for collaborations in various sectors ranging from defence, automobile to IT, cyber security and bio-fuel, a minister of the central European country said here on Thursday.

The bilateral trade between the two countries rose from over Euro 800 million in 2023 to Euro 1.3 billion in 2024, and this growth will continue, Slovakia's Foreign and European Affairs Minister Juraj Blanár said during the inauguration of his country's honorary consulate in India.

"We consider India an important partner. India is also a strategic partner of the European Union, and Slovakia is a member of the EU. There is a big opportunity for business and that is why we would like to strengthen our cooperation. We are like-minded countries, and have the same values," the Slovak minister said.

Blanár said Slovakia is looking to strengthen its ties with India in automobile, machinery, defence, green technology, IT, cyber security and biofuel.

He also emphasised education, student exchange programmes among universities and people-to-people connections between the two countries.

"We do not want to be only in central India and around the capital of India. We want to spread throughout India. That is why we are opening this honorary consulate in Kolkata, West Bengal. We want to be active in neighbouring states like Odisha and also in Uttar Pradesh," he said.

These give great opportunities not only for Indian investors but also for Slovak businessmen.

He said Tata Group and an Indian battery manufacturer have investments in the central European country and 5-6 investments are in the pipeline.

Slovakia's Finance Minister Ladislav Kamenický, who was also present at the inauguration of the honorary consulate, pitched for investments in the European country from Indian industrialists as well as other BRICS nations.

"Slovakia is growing by 1.8-2 per cent...It is important to bring foreign investment to Slovakia. We offer a friendly environment and opportunities for Indian investors and also businessmen from other BRICS countries," he said.

Jupiter Group Managing Director Vivek Lohia has been appointed as the honorary consul general of the Slovak Republic in Kolkata.

"The honorary consulate in Kolkata marks a new chapter in Indo-Slovak relations. With Slovakia's industrial prowess and West Bengal's strategic position as an engineering and manufacturing hub, we see immense potential for collaboration. This consulate will play a crucial role in fostering trade, investment, and cultural ties between the two nations," Lohia added.