Cabinet apprised of the signing of protocol with Czech Republic on bilateral cooperation in the field of heavy industry

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has been apprised of the protocol signed earlier between India and Czech Republic in the field of heavy industry, especially in industrial cooperation and facilities construction.

The Protocol includes the intent for modernization of the existing facilities in India by the Czech companies, including modernization of three plants of Heavy Engineering Corporation, a Central Public Sector Enterprises under the Department of Heavy Industries at Ranchi, set up with Czech support in the early 1960's.

The aim of the Protocol is to promote bilateral cooperation between the subjects of both States of the Parties in the field of heavy industry on the principle of mutual convenience and benefit, in accordance with the laws valid on the territories of the states of the Parties and their obligations resulting from other international agreements.

 

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