Serbia extends invite to competitive Indian business participants says H.E. Mr. Jovan Mirilovic

“India and the Republic of Serbia have enjoyed good geo-political relations in the past years. Going forward, Serbia intends to build on the economic ties with the nation. We invite Indian business companies to invest in the sectors of energy, film industry, food production, machinery industry, tractor and automobile manufacturing, irrigation mechanisation, IT, education, pharmaceutical industry and health tourism in Serbia”, said H.E. Mr. Jovan Mirilovic, Ambassador of the Republic of Serbia to India during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries with a high level business delegation from Serbia.

Speaking about the current economic situation in the country, H.E. Mr.  Mirilovic said that Serbia is in the process of restructuring its economy towards a comprehensive business philosophy. Privatization has been an important manifesto in its agenda towards restructuring. Thus the Serbian economy holds numerous projects in need for capital. We want to see Indian business participants in the role of investors in Serbia, and involved in profitable projects related to infrastructure, industry, electronics, agriculture, tourism and film making industry, Mr. Mirilovic noted.

Mr. Zoran Bojovic, Adviser to the President, Chamber of Commerce and Industry of Serbia said that nearly 150 companies in the sectors like tractors, engineering, automotives, steel, etc are available for privatization. He acknowledged the presence of Indian companies such as Mahindra and Mahindra, Shapoorji and Palongi in sectors such as infrastructure, bridges, ports, and automotive industries among others. 

Earlier, in his welcome address Mr. Vijay Kalantri, President, All India Association of Industries and Vice-Chairman, MVIRDC World Trade Centre Mumbai said the bilateral trade between India and Serbia stands at US$ 159 million with Indian exports worth US$ 154 million and Serbian exports worth US$ 5 million. India’s chief exports to Serbia include soybean oilcakes, coffee, sesame seeds, food products, pharmaceuticals & chemical products, textile yarn, garments & footwear, products of iron & steel and industrial machinery. Serbia’s exports to India consist of cigarettes, tobacco, organic chemicals, industrial machinery, footwear & apparel, metal waste and scrap. 

In reciprocation to the invite extended to Indian business community into Serbia Mr. Kalantri said the Indian economy is growing rapidly at 5% which holds lucrative opportunity for Serbian business players. The economy has set a target of investing US$ 1 trillion in infrastructure which may be explored by Serbia as well. Also, the Serbian nationals may take learning lessons in promoting the MSME sector of their nation through transfer of technology and business cooperation with India.   

Present on the occasion were officials of the EXIM Bank who pledged to extend lines of credit in encouraging Indo-Serbian business relations. 

Mr. Kalantri proposed the signing of MOU to cooperate in furthering the mutually beneficial trade and economic relation with Serbia.               

January 30, 2014

From (L-R) : Mr.  Y. R. Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai, Mr. Zoran Bojovic, Adviser to the President, Chamber of Commerce and Industry of Serbia, Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries, H.E. Mr. Jovan Mirilovic, Ambassador of the Republic of Serbia to India during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries with a high level business delegation from Serbia.

From (L-R): Mr.  Y. R. Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai, Mr. Zoran Bojovic, Adviser to the President, Chamber of Commerce and Industry of Serbia, Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries, H.E. Mr. Jovan Mirilovic, Ambassador of the Republic of Serbia to India, Ms. Rupa Naik, Executive Director, All India Association of Industries and Director-Projects, MVIRDC World Trade Centre Mumbai, Mr. Taizun Patheria, Honorary Consul of the Republic of Serbia in Mumbai during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries with a high level business delegation from Serbia.