Indian Government is taking various measures for bringing investment from Central Eastern Europe such as opening up Foreign Direct Investment in many sectors, carrying out FDI related reforms and liberalization and improving ease of doing business in the Country, said minister of State in the Ministry of Heavy Industries and Public Enterprises Mr. Babul Supriyo in reply to a written question in the Lok Sabha on Tuesday, February
India has engaged Czech Republic in heavy engineering and has been interacting with Russian Federation in heavy engineering since its formation for technological cooperation, said the minister. Czech Republic and Russian Federation remain major partners of India in heavy engineering industry and several major achievements have been recorded due to continued support from these countries, he said.
Both the Ministry of Industry, Czech Republic have signed a Memorandum of Understanding (MoU) on 24th November 2015 for technology transfer in heavy engineering that includes modernization of Heavy Engineering Corporation (HEC), which was set up with Russian collaboration.
Also, an MoU has been signed between HEC and CNIITMASH, a Russian Government Company, for transfer of latest technology to HEC and setting up a training infrastructure for highly specialized metallurgy like electro slag re-melting, welding, gearbox manufacturing and non-destructive testing, informed the minister.
BHEL has signed an MoU on 15th April 2015 with the Russian Joint Stock Company INTMA to set up a Gas-based Power Project in Kazakhstan. Andrew Yule & Co. Limited has signed an MoU with Togliatti Transformator of Russia on 10th January 2014 for technical knowhow and design in the field of manufacturing of transformer, noted the minister in his reply.