Tata Motor’s Jaguar Land Rover will be India’s first company to invest over $2 billion in the Slovak Republic. The Minister, H.E. Mr. Vazil Hudak, Minister of Economy announced at the World Trade Centre (WTC) Mumbai on October 8, 2015. Mr. Hudak added that in the plans are to generate local employment in the plant as well as in the allied sectors.
“We are happy to inform you all that the first Indian company to invest in Slovak Republic is Tata’s Jaguar Land Rover. They will invest $2 Billion in the first phase. We plan to generate 400 jobs in the plant and 50,000 supplementary jobs in the allied sectors,” Mr. Hudak informed. The Minister Mr. Hudak and his team later went to meet the Tata Sons Chairman, Cyrus Ministry.
Mr. Hudak led a delegation of officials along with H.E. Mr. Zigmund Bertok, the Ambassador of Slovak Republic and Mr. Amit Choksey, the Honorary Consul General of Slovak Republic. He gave an overview of the Slovak Republic and said, “It is a best time to invest, as the country is safe politically and has a robust economy.”
The officials also elaborated on the new schemes and measures initiated to provide incentives for start-ups, entrepreneurs with the efforts for doing business in Slovak Republic.
The delegation has come to Mumbai to look for collaborations and Indian investments in engineering, Information Technology and automobile components. Slovak Republic is looking for Indian partners to start ventures in automobile, defense, agriculture, pharmaceuticals, renewable energy, mainly wind and solar energy.
Mr. Vijay Kalantri, President All India Association of Industries (AIAI) and Vice Chairman WTC Mumbai, in his welcome speech said that Indian companies have a lot of potential in investing in Slovak Republic. “Tata motors Land Rover is a leading company and we are very happy that they are now investing in Slovak Republic, which has grown in the last ten years. Their economy is growing and India being an Asian leader has a lot of investment opportunities,” said Mr. Kalantri.
Mr. Kalantri said this is a opportune time to promote the bilateral trade links between the two countries, as it will help promote ‘Make in India,’ mission of the Prime Minister, Mr. Narendra Modi. “We can encourage joint collaboration for make in India to help import, do assembling and manufacturing, it does not mean 100% make it here. We can collaborate.
AIAI and WTC Mumbai were represented by Ms. Rupa Naik, the Executive Director, AIAI and Mr. Y. R. Warerkar the Executive Director, WTC Mumbai.
Honorary Consul General Mr. Amit Choksey gave the vote of thanks said”, “The Slovak Republic is the fastest growing economy with lowest debt and is a very beautiful country that has great potential.