International Development News
Development News Edition

Heavy Industry Ministry approaches Czech firms to scale up investments in India


Heavy Industry Ministry approaches Czech firms to scale up investments in India

A high level industry delegation led by Department of Heavy Industry Secretary Asha Ram Sihag has approached Czech companies, including Skoda Transporation, to scale up their investment in India, an official statement said on Thursday. The Department of Heavy Industry in association with India's Embassy in Czech Republic had organised India Investment Meet on October 8.

"A high level government - industry delegation led by the Secretary is reaching out to top Czech companies, including Skoda Transporation to scale up their investment in India, leveraging the country as their global supply chain hub," it said. Addressing global companies and technology heads, Sihag said Volkswagen Group is investing 1 billion Euros (about Rs 7,800 crore) in implementation of its project in India for developing new models, including a mid-size SUV to be showcased in 2020.

The technical development of new products will take place in India. Skoda Transportation, which has developed hybrid vehicles and electric buses, holds specific interest for India in technology transfer and product development in the e-vehicle market, he said.

Sihag added that India has set a target of raising the size of capital goods sector to Rs 7.5 lakh crore in 2025 from Rs 2.30 lakh crore in 2014-15, raising direct and indirect employment to 30 million from 8.4 million at present.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION/BLOG/INTERVIEW

How music can help expectant mothers during pregnancy

Music provides pleasant ambience for all but its more important for expectant mothers as besides ensuring pleasant environment for them it also directly and indirectly influences the unborn babies. There are various scientific findings to c...

EdTech: A technical approach to flexible and cost-effective education

Its hight time for the world to go for innovative approaches like e-learning over traditional learning methods that need physical infrastructure, long-term planning, and huge investment. ...

Our school campaigns are our strongest ally: Joaquin Antuna, founder of Peace and Cooperation

Joaquin Antuna is the founder of Peace and Cooperation, a Spanish NGO which was nominated as peace messenger by the United Nations in 1986. Antuna is of very firm opinion that in order to have an incisive impact on the community we live in,...

'No escape from telephones', this 1953 prediction actually comes true

In 1953, a telephone company chief predicted that therell be no escape from telephones in the future....

Videos

Latest News

RPT-Chile's police chief suspends use of rubber bullets

Chiles police chief said on Tuesday he has suspended the use of rubber bullets to quell national unrest after a university study revealed they could be made up of as little as 20 rubber and contain harmful substances such as lead. Director-...

UPDATE 1-U.S. to provide ship to Vietnam to boost South China Sea patrols

The United States announced on Wednesday it will provide Vietnam with another coast guard cutter for its growing fleet of ships, boosting Hanois ability to patrol the South China Sea amid tensions with China. U.S. Defense Secretary Mark Esp...

President’s Colour received by Academy Cadet Captain on behalf of INA

Shri Ram Nath Kovind, the Honble President of India and the Supreme Commander of Indian Armed Forces, awarded the Presidents Colour to Indian Naval Academy INA on 20 November 2019. The Presidents Colour - the highest honor that is bestowed...

Golf-Hong Kong Open postponed due to protest violence - organisers

The Hong Kong Open golf tournament has been postponed after violence from anti-government protests escalated this week, the Asian Tour and European Tour said on Wednesday.Regretfully the European Tour, in conjunction with our tournament co-...

Give Feedback