Speaking about the current economic situation in the country, H.E. Mr. Mirilovic said that Serbia is in the process of restructuring its economy towards a comprehensive business philosophy. Privatization has been an important manifesto in its agenda towards restructuring the economy. Thus the Serbian economy holds numerous projects in need for capital. We want to see Indian business participants in the role of investors in Serbia, and involved in profitable projects related to infrastructure, industry, electronics, agriculture, tourism and film making industry, Mr. Mirilovic noted.

Mr. Y. R. Warerkar, Executive Director, MVIRDC World Trade Center Mumbai, Mr. Zoran Bojovic, Adviser to the President, Chamber of Commerce and Industry of Serbia, Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Center Mumbai and President, All India Association of Industries, H.E. Mr. Jovan Mirilovic, Ambassador of the Republic of Serbia to India, Ms. Rupa Naik, Executive Director, All India Association of Industries and Director-Projects, MVIRDC World Trade Center Mumbai and Mr. Taizun Patheria, Honorary Consul of the Republic of Serbia

Mr. Zoran Bojovic, Adviser to the President, Chamber of Commerce and Industry of Serbia said that nearly 150 companies in the sectors like tractors, engineering, automotives, steel, etc are available for privatization. He acknowledged the presence of Indian companies such as Mahindra and Mahindra, Shapoorji and Palonji in sectors such as infrastructure, bridges, ports, and automotive industries among others.

Earlier, in his welcome address Mr. Vijay Kalantri, President, All India Association of Industries and Vice-Chairman, MVIRDC World Trade Center Mumbai said the bilateral trade between India and Serbia stands at US$ 159 million with Indian exports worth US$ 154 million and Serbian exports worth US$ 5 million. India’s principal exports to Serbia include soybean oilcakes, coffee, sesame seeds, food products, pharmaceuticals & chemical products, textile yarn, garments & footwear, products of iron & steel and industrial machinery. Serbia’s exports to India consist of cigarettes, tobacco, organic chemicals, industrial machinery, footwear & apparel, metal waste and scrap.