Embassy of India, Bratislava

The trade relations between India and Slovakia are heading on a positive note. In the 1990s, mutual trade volumes between Slovakia and India were relatively modest and were based mainly on footwear, textiles, and basic engineering products. Over time, however, the structure of trade has changed significantly, and today bilateral exchange has a far more sophisticated and technologically advanced profile.

Institutional Mechanism

The India – Slovakia Joint Economic Committee (JEC) was established in 1994 during the visit of former Prime Minister Mr Jozef Moravcik to India, and held its first meeting in Bratislava in May 1995. The latest and 12th session of the JEC was held in New Delhi in February 2025. The visiting Slovak business delegation also participated at the 26th International Engineering & Technology Fair (IETF) in New Delhi.

Visit of Business Delegations

In the last few years, several key business and political delegations have traveled from Slovakia to India to strengthen economic cooperation, particularly in the automotive, engineering, and technology sectors.

Foreign Minister Juraj Blanár led a significant business delegation to India during his visit for the Raisina Dialogue in 2024 and 2025. During the visit in 2025, the business delegation participated in the CII India–Europe Business Exchange and Smart Cities India Expo in New Delhi. SARIO, the business promotion agency of Slovakia, signed agreements with CII and FICCI to expand business ties. This visit also featured the inaugural Slovak-Indian Business Forum in Kolkata, where over 100 business representatives from both countries met. In 2026, Minister Blanár was scheduled to visit India with a much larger delegation, which got cancelled due to the Middle East crisis.

During the visit of Hon’ble President of India, Smt. Droupadi Murmu, to Slovakia, a large Indian business delegation participated in the Slovakia-India Business Forum in Bratislava, jointly organized by SARIO and FICCI.

India-Slovakia Bilateral Trade

Trade and investment ties between the two countries have experienced positive growth in the last two years. According to Slovak Statistical Office data, in 2024, the total bilateral trade reached an all-time high, figuring US$ 1.3 billion, crossing the US$ 1 billion mark for the first time. In 2025, bilateral trade further progressed to US$ 1.8 billion, an annual growth of 28%, steered by Indian exports of US$ 1.52 billion and imports of US$ 284 million. The bilateral trade figures for the last five years, according to the Statistical Office of the Slovak Republic and DGFT, Ministry of Commerce & Industry, India, are as below:

Bilateral Trade in Goods (in US$ million)
Source: Slovak Statistical Office

Bilateral Trade in Services (in US$ million)
Source: National Bank of Slovakia

Bilateral Trade (in US$ million)
Source: DGFT, Ministry of Commerce & Industry, India

The major items of India’s export to Slovakia are motor vehicle parts, machinery and mechanical appliances, apparels knitted or crocheted, mobile phones, footwear, parts of footwear, garments, medicaments, propellent powders, and electrical apparatus. Vehicle parts like gear boxes and appliances like spark ignition engines for cars contribute to more than half of the total exports from India.

Major items of import from Slovakia are dominated by automobiles (cars), along with their parts, as well as machinery, electrical equipment, and rubber products, reflecting its strong manufacturing base, especially in the automotive sector. Other items include glass, iron, steel, and ceramic products.

Difference in Trade figures: There is a significant difference between the trade data published by both sides. The possible reason might be the usage of different methodologies for calculations. Slovakia publishes data according to the country of origin (for total imports) and the country of destination (for total exports). This is very much evident in the case of import of leather products – as per DGFT, in 2024-25, export of leather products was US$ 0.6 million, while Slovak data shows import of leather products worth US$ 7.1 million in 2025. Similarly, for smartphones, DGFT data for 2024-25 shows US$ 0.94 million, while the Slovak side reported around US$ 500 million.

Prospective Areas to Enhance Our Exports

As of now, mobile phones and vehicle parts like gear boxes and appliances like spark ignition engines for cars contribute to more than half of the total exports from India. Other prospective commodities to increase exports, with lowering of tariffs, include:

• Footwear, including leather – In 2024, Slovakia imported footwear worth US$ 0.5 billion. There is potential to increase our exports, which currently stand at around US$ 20 million.
• Apparels – Slovakia imported close to US$ 0.6 billion. Bangladesh and Vietnam are the major exporters to Slovakia.
• Medical devices – Slovakia’s medical device market is heavily import-dependent, with around 85% of supply coming from abroad.
• Ammunitions and related items – Slovakia imports close to US$ 1.5 billion. India’s contribution is only US$ 50 million.
• Mechanical appliances, including automatic data-processing machines and units thereof, and magnetic or optical readers and machines for transcribing data.

Bilateral Investments

According to OECD data on foreign direct investment flows, inward FDI from India to Slovakia stood at US$ 10.71 million (2023) and US$ 8.08 million (2024). Data for outward FDI from Slovakia to India are not available.

Indian Investments in Slovakia

Indian investments in Slovakia span a number of sectors, but are mostly focused on industrial, automotive, and services-oriented areas. While current Indian investments in Slovakia remain concentrated in automotive, engineering, and IT services, there is potential in expanding cooperation into additional areas including renewable energy like biofuels, light manufacturing, and textiles. Some of the major Indian investments in Slovakia are as below:

• Tata Motors’ Jaguar Land Rover (JLR) state-of-the-art automobile plant with an investment of €1.4 billion and annual manufacturing capacity of 150,000 vehicles started construction in September 2016, with operations beginning in October 2018. The plant employs more than 4,400 people (303 Indians) and produces two models – Land Rover Discovery and Land Rover Defender. The Nitra facility will be producing electric vehicles by the end of the decade.
• In August 2025, Tata AutoComp Systems, Pune, through its UK-based subsidiary Artifex, signed an agreement to acquire 100% of the share capital of IAC Group (Slovakia), Lozorno, which manufactures automotive components such as door panels, instrument panels, center consoles, luggage compartment linings, and pillar linings. Following integration, the Slovak operation began operating as Artifex Systems Slovakia in February 2026.
• In June 2024, Amara Raja Energy & Mobility Ltd acquired an additional 4.5% stake in InoBat, a Slovakia-based EV battery manufacturer, for €20 million, raising its total holding to about 9.32%. Also in June 2024, Amara Raja Advanced Cell Technologies Pvt. Ltd (ARACT) signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o. (a subsidiary of Gotion High-tech Co Ltd, China) to license Gotion’s LFP technology for lithium-ion cells. On 20 June 2024, GIB – a joint venture between Gotion High-tech and InoBat – signed an investment agreement with the Government of Slovakia for the country’s first LFP battery gigafactory.
• In March 2022, HCL Technologies Limited incorporated HCL Technologies Slovakia s.r.o. as a subsidiary of HCL Technologies UK Limited, primarily engaged in IT and business services, engineering and R&D services, and modernized software products.
• In 2021, Wipro Limited acquired London-headquartered Capco, a global management and technology consultancy. Capco Bratislava specializes in software development and consulting, primarily for international banks and insurance companies in Western Europe.
• Prodapt Solutions Pvt. Ltd., a leading service provider of digital and network services to the telecom and media industries, has operated in Slovakia since 2021 in Bratislava and since 2022 in Kosice.
• In January 2020, CKA Birla Group, through its company National Engineering Industries (NEI), acquired Slovakia-based Kinex Bearings, which supplies products to over 80 countries and employs around 750 workers (7 Indians) across two production plants in Slovakia (Bytca and Kysucke Nove Mesto).
• In 2018, Infosys acquired Fluido, the leading Salesforce Consultancy and Partner in the Nordics, headquartered in Espoo, Finland, with additional offices in Denmark, Norway, Slovakia (Banska Bystrica), and Sweden.
• SPC International was acquired by TVS Supply Chain Solutions (TVS SCS) in 2017. It specializes in repair, refurbishment, and remarketing of IT hardware, with major repair centers in the UK, Slovakia (Piestany), India, and North America.
• In 2017, Tata Consultancy Services (TCS) opened a branch in Bratislava and provides IT services for Jaguar Land Rover in Nitra. TCS’s General Manager for Slovakia is based in Budapest, Hungary.
• In 2017, Dhoot Transmission, an Aurangabad-based wiring harness manufacturer, acquired the TFC Cable Assemblies plant in Slovakia, which manufactures wiring harnesses, wiring looms, and cable assemblies for the automotive industry.
• In 2011, the Samvardhana Motherson Group acquired 80% of the shares in Peguform GmbH, Germany, whose Slovak subsidiary was renamed SMP Automotive Solutions Slovakia s.r.o. In 2023, Motherson acquired 100% of SAS Autosystemtechnik, Germany, including its Slovak facility, now operating as Motherson SAS Automotive Systems and Technologies Slovakia s.r.o. Motherson Group is now represented in Slovakia by SMRC Nitra (Modules & Polymer Products division) and MSAS Bratislava (Integrated Assemblies division), which employs around 50 Indians.
• In 2010, Illichmann Castalloy, Austria, merged into the Alicon Group, and its Slovak plant, Illichmann Castalloy s.r.o. in Zarnovica, also became a member of the Alicon Group. The company manufactures aluminium products.

Slovak Investments in India

Slovak investments in India are fairly diversified compared to major Indian investments in Slovakia, spanning several industrial, engineering, technology, and services sectors. Some of the important Slovak investments in India are as below:

• Slovak rail freight cars and bogies manufacturer Tatravagonka a.s., Poprad, acquired a 26% stake in Jupiter Group, Kolkata, in 2015. Jupiter Group acquired over 60% stake in Madhya Pradesh-based Commercial Engineers & Body Builders Co. Ltd. (CEBBCO) in February 2019. In 2024, Jupiter Wagons acquired Bonatrans India in Chhatrapati Sambhajinagar (Aurangabad), transforming it into the Jupiter Tatravagonka Railwheel Factory (JTRF) – the first facility in India to produce wheelsets for both local consumption and export. In April 2025, JTRF set up India’s first private forged railwheel and axle manufacturing plant in Odisha’s Khordha district, with an intended investment of Rs. 2,500 crore. The facility will produce 100,000 wheelsets annually, with around 50% of production targeted for export, including to Slovakia’s Tatravagonka A.S. and other European rail infrastructure companies.
• In March 2023, Zuari Industries Limited entered into an agreement with Envien International Limited (Envien Group, part of AZC Group), headquartered in Slovakia, to jointly develop, construct, own, and operate a 150 KLPD grain-based (rice & corn) distillery in Uttar Pradesh, supplying ethanol under the Ethanol Blending Programme of the Government of India. The distillery at Aira, Lakhimpur Kheri, UP, is being implemented by Zuari Envien Bioenergy Pvt Ltd as a joint venture, with plans to scale up production to 1000 KLPD, and was scheduled for commissioning in Q1 2026.
• Another AZC Group company, Czechia-based Nymwag, has a joint venture with Texmaco Rail & Engineering for a freight wagon and railway components facility in Kolkata. Construction of the Texmaco Nymwag Rail and Components Pvt Ltd factory began in March 2024 and was completed in October 2025, with an annual capacity of 2,500 wagons.
• Defence manufacturing company Grand Power Ltd has set up a subsidiary, Grand Power India, and purchased land close to Coimbatore, in the process of setting up a plant for manufacturing various calibre small arms weapons in India for both civilian and military buyers. Some compliances prior to setting up manufacturing are still ongoing.
• ESET, the renowned Slovak software services company, has focused its India investments on expanding its channel partner ecosystem, local distribution networks, and enterprise cybersecurity services rather than direct infrastructure manufacturing. In 2025, the company prioritized partner engagement events (e.g., ESET Connect) in major hubs like Mumbai and Bangalore to onboard new Managed Service Providers (MSPs) and resellers. ESET CEO Richard Marko also participated in the February 2026 India AI Impact Summit.
• M/s VIPO a.s., Partizanske, established in 1974, researches, develops, and produces machines and electronic systems, with around 120 employees and 100 machines supplied annually, mainly bead winding and bead apex machines for the tire industry. Since 2008, it has delivered 27 machines to Indian companies including Apollo Tyres, JK Tyre, MRF, CEAT, and BKT. In June 2025, the company incorporated Vipo India Pvt Ltd in Delhi to expand its presence.
• In 2020, Mr. Martin Kusik, former partner in M/s Penta Investments s.r.o., Bratislava Group, bought a stake in M/s IDFC First Bank, Mumbai, through his Czech company M/s Odyssey 44 a.s., Prague. As of December 2025, Odyssey 44 owned 3.14% of the Bank’s shares.
• In 2022, Edgar Baker s.r.o., a human resources company, opened its subsidiary Edgar Baker Pvt Ltd in Noida, focusing on search for manager and expert profiles as well as skilled workforce.
• In 2015, MicroStep-MIS, which specializes in customized monitoring and information systems, incorporated MicroStep Monitoring Information Systems India Pvt Ltd in Bangalore, and has delivered meteorological systems for 67 military airports for the Indian Air Force.
• GMP Slovakia, s.r.o., a worldwide leader in steel reels, drums, take-apart reels, and handling equipment for the wire and cable industry, has its main plant in Pribenik. Its second manufacturing plant, GMP Reels India, was founded in 2013 in Nashik, Maharashtra.
• In October 2022, Slovak company Dajky s.r.o. established a branch in India, doing business in installation of artificial surfaces for cricket stadiums and training pitches, sports fields for schools and universities, and military training fields.
• In 2024, Furbify, which refurbishes and sells used computers, registered its company Furbify India Pvt Ltd, and is currently in the process of obtaining a licence for the sale of refurbished computers.

July 2026