India and Slovakia should explore diversification of trade basket: President Murmu

April 11, 2025 | 13:31:03

Says India is emerging as a global leader in technology, innovation and sustainable development.

NEW DELHI: President Droupadi Murmu addressed the Slovakia-India Business Forum in Bratislava, during her visit to Slovakia.

Addressing the gathering, the President said that India and Slovakia have historically shared close and friendly relations. Over the years, our countries have collaborated in various sectors. It is now time to explore the diversification of our trade basket. 

She said that India is undergoing a remarkable transformation, emerging as a global leader in technology, innovation, and sustainable development. We have seen significant success in renewable energy, digital technology, information technology, telecom, auto and auto-components, pharma and biotechnology, space and fintech. She stated that India is expected to become a 5 trillion dollar economy in the coming years, and we hope to do it in partnership with our friends such as Slovakia. 

The President said that India is one of the fastest-growing economies in the world, and Slovakia, with its strong industrial base and strategic location in Europe, presents great opportunities for deeper trade and investment ties. As a key member of the European Union and a hub for automotive, defence, and high-tech industries, Slovakia stands to benefit from India’s vast consumer market, skilled workforce, and thriving start-up ecosystem. She invited Slovak companies to join our ‘Make in India’ initiative. 

She said that Slovakia-India Business Forum serves as an excellent platform to explore synergies and build mutually beneficial partnerships. She urged business leaders to seize the opportunities and convert these into concrete results. She expressed confidence that the deliberations at the Forum would lead to lasting partnerships. 

In the subsequent engagement, the President visited the Constantine the Philosopher University in Nitra where she was conferred with Honoris Causa Doctorate degree in recognition of her distinguished career in public service and governance, advocacy for social justice and inclusion, and contribution towards education, women empowerment and promotion of cultural and linguistic diversity. 

In her acceptance speech, she said that this is an honour, which is being bestowed upon a country, and civilization that has been a beacon of peace and learning since time immemorial. Receiving this degree from an institution named after the philosopher Saint Constantine Cyril, is especially meaningful. 

The President said that education is a means not only for individual empowerment but for national development as well. Recognizing this, India has placed education at the heart of its national development strategy. With half of its population below the age of 25, India is investing in its youth to drive the knowledge economy of tomorrow. 

President Murmu said that even as India embraces modernity and technology, our progress remains deeply rooted in the wisdom of our ancient philosophical traditions. 

She stated that just as Saint Constantine Cyril’s work laid the foundation for Slavic linguistic and cultural identity, Indian philosophical traditions have long shaped the intellectual and spiritual fabric of our society. Indian classical philosophy offers a rich and diverse exploration of reality, emphasizing introspection and ethical conduct. It highlights multiple perspectives, and the importance of self-knowledge and inner experience. 

She was happy to note that the timeless wisdom of the Upanishads resonates in Slovakia too.