“We actively promote Slovakia as a strategic gateway to the EU markets.“
Your visit to India in March 2025 has drawn attention to the Slovakia and India. What were the main objectives of this visit, and what key outcomes have emerged from your discussions with Indian counterparts?
Our recent visit to India in March 2025 marked a milestone in strengthening economic ties between our two nations. With a diverse group of 25 Slovak companies across nine sectors — from energy and ICT to logistics, real estate, and consulting — our mission was clear: to open doors, build trust, and form lasting business partnerships.
Key objectives included facilitating business partnerships in direct B2B meetings, showcasing Slovakia’s business environment and highlighting sectors with high potential for investment collaboration, hosting three high-level business forums to boost bilateral engagement.
Key Outcomes and Future Prospects
- The mission enhanced bilateral trade prospectsto expanding Slovak footprint in one of the world’s fastest-growing economies.
- MoUs with major Indian business chambers like FICCI and CII, establishing long-term platforms for institutional collaboration.
- Progress in key sectors such as green energy, manufacturing, and digital technologies.
- A strong message of support for the EU-India Free Trade Agreement, which we believe will further simplify market access for Slovak enterprises.
This mission was not just symbolic — it was strategic. It confirmed that Slovakia sees India as a vital partner in a fast-evolving global economy.
For 2024, you exceeded the planned turnover of mutual foreign trade of 1 billion euros by another 280 million euros, with trade exchange increasing by 50 percent year-on-year. Which sectors do you consider promising for the development of further cooperation and the growth of trade relations?
There are several high-potential sectors expected to play a crucial role in driving economic expansion and technological collaboration.
- Green Hydrogen & Renewable Energy – Slovakia has had early success in green hydrogen, especially in heavy vehicle transport. Partnering with India, one of the largest emerging clean energy markets, offers promising investment opportunities.
- Heavy Engineering & Manufacturing -with Slovakia’s strong industrial tradition and India’s expanding production base, there is significant room for joint ventures in railway technology, machinery, and automotive systems.
- Cybersecurity & ICT – the digital economy needs secure solutions. Slovakia’s expertise in cybersecurity, AI, and software development complements India’s massive IT sector perfectly.
- Waste and Water Management – Slovakia’s sustainable urban solutions align well with India’s infrastructure modernization efforts, offering real-world impact through smart technologies.
- E-mobility & Automotive Technologies – Slovakia is a global automotive hub with a focus on electric vehicles, batteries, and smart mobility. Collaboration in this field could lead to game-changing outcomes for both sides.
Additionally, sectors such as telecommunications, pharmaceuticals, and space technologies hold significant growth potential due to Slovakia’s history of innovation in these fields.
Slovakia’s trade ambitions align with broader European Union discussions on a free trade agreement with India, which could further simplify market entry for Slovak businesses.
Indian companies have been increasingly investing in Central Europe, including Slovakia. Is SARIO taking to attract more Indian investors to Slovakia, and which sectors are you specifically focusing on for Indian investments?
Business missions, such as the ones that took place recently, are intended to contribute to raising awareness of the Slovak investment and business. We actively promote Slovakia as a strategic gateway to the EU markets. Business missions like the one to India are designed not only to build relationships but to showcase our readiness to support potential investors.
SARIO team provides tailor-made services free of charge. We provide in–depth information about Slovak business environment, industry opportunities, complex information on setting up a business, site selection assistance, support interconnecting investors with Slovak suppliers, innovative companies and R&D institutions.
Slovakia is an attractive investment destination for Indian investors mainly for high-tech sectors regarding:
- Automotive
- E-mobility & Batteries
- Space Technologies
- Shared Service Centers & EU Headquarters
- ICT & Data Centers
We’ve worked with Indian-origin projects in automotive, chemicals, IT, and engineering. In return, Slovak companies are also exploring investments in India — from bio-fuels and railways to HR, meteorology, and cybersecurity.
Given Slovakia’s strong industrial base and India’s rapidly growing economy, what areas of business collaboration do you see as having the most potential between the two nations? Are there any specific joint projects or partnerships in the pipeline?
Regarding investments, SARIO has successfully reported 3 investment projects originating from India since 2017. These projects total 1.5 million EUR and created 250 new jobs – Tata Consultancy Services, Dhoot Transmission, HCL Technologies.
The strategic project of the Jaguar Land Rover was originally registered by SARIO as a company originating from Great Britain, but in the meantime the company was fully acquired by the Indian group Tata Motors, which means that we consider the investment to be Indian.
Projects originating from India that SARIO has worked on in the past mainly came from the automotive sector, ICT sector and shared service centres.
There are more recent standout examples illustrating the promise of Indo-Slovak cooperation that it’s real, growing, and delivering results.
Amara Raja Energy & Mobility Ltd (ARE&M), one of India’s leading battery manufacturers, has signed a technical licensing agreement with GIB EnergyX Slovakia.
Envien Group entered the Indian biofuel market, partnering with Zuari Industries Ltd. and launching an investment project to build a bio-ethanol production unit in the Indian city of Uttar Pradesh.
With the global economy evolving towards sustainability and technological innovation, how do you see Slovakia and India cooperating in emerging sectors such as green energy, digital transformation, and advanced manufacturing?
With Slovakian industrial know-how and India’s market scale, we can co-develop solutions that address global challenges — from mobility to clean energy to digital security.
By fostering innovation partnerships and exchanging best practices, we can jointly accelerate the green and digital transitions in both our regions.
How does SARIO plan to promote Slovakia as a business destination to Indian companies? Could you highlight any recent success stories of entering the Indian market?
We believe in active engagement. Our strategy includes organizing targeted missions, investment forums, and B2B matchmaking events.
One key aspect of this strategy is the organization of business missions, where both government representatives and entrepreneurs actively engage with their Indian counterparts. Over the past period, it has been possible to observe more and more Slovak investments in various areas of the economy.
In 2024, Tatravagónka announced an investment in the state of Odisha in a joint venture with the Indian company Jupiter Wagons for the production of forged wheelsets and axles for railway wagons worth a total of 260 million EUR.
The Indian company Zuari Industries announced cooperation with the Slovak company Envien in the construction of a bio-fuel production plant in the state of Uttar Pradesh. The total investment is approx. 24 million USD and will help create approx. 2,000 jobs.
The company Microstep-MIS opened a new branch in the state of Nagaland. The company has previously successfully implemented a project to supply weather stations for civil airports in India.
Last year few other Slovak companies from various sectors like personnel consulting, revitalization of used technology, cybersecurity and space technologies have opened in India their branches as well.
A notable example of this approach will be the upcoming visit of the President of India to Slovakia, accompanied by a business delegation. This high-level visit is expected to further deepen Slovakia’s ties with India and provide additional opportunities for collaboration, especially in sectors that align with both countries’ interests.
SARIO is keen to host investment seminars that showcase real success stories to inspire Indian entrants seeking to expand into new markets, particularly Slovakia.
Would you like to give any message to our Envoy Excellency readers?
Sahyog ke saath Vikas.
Since the beginning of 2025, SARIO has organized a series of high-quality business missions, forums, and presentations of Slovak companies in India. I believe that these efforts will soon lead to tangible results — long-term contracts and meaningful partnerships.