One of the agreements is on social security that will protect the interests of around 700 Indians working in the European nation.
India today signed three agreements with Czech Republic including one on social security that will protect the interests of around 700 Indians working in the European nation.
An agreement on Social Security and Administrative Arrangement for the implementation of the Agreement on Social Security was signed by minister of state for communication and information technology Sachin Pilot and Czech minister of Labour and Social Affairs in the presence of vice-president Hamid Ansari during the first leg of his two-nation tour.
"Under the Social Security Agreement with Czech Republic, citizens working in either country in less than five years would be exempted from social security contributions," secretary (West) in the ministry of external affairs Vivek Katju told reporters here.
Besides, contributions towards pension funds of those who return after five years will also be protected through the proposed pact.
Around 600 to 700 Indians are working in Czech Republic whose interests will be protected through this agreement.
Two other agreements were signed by the two countries - on Economic Cooperation and one on a Protocol on Amendment
of the Agreement between India and Czech Republic for the
Promotion and Protection of Investments signed on October 11,
1996.
Katju described the visit as a "great success" as both the nations emphasised on greater cooperation on diverse sectors like trade and commerce, engineering technology, nano-technology, agriculture etc.
Earlier, speaking at the working lunch hosted by Czech prime minister Jan Fischer, vice-president Ansari said the two countries' economic engagement has intensified to the mutual benefit of the people.
"Czech engineers have contributed to India's industrialisation and BATA, Yezdi and Skoda are well known brand names in India. Many Indian companies are present in the Czech Republic in diverse sectors such as software, trucks, pharmaceuticals and textiles," he said.
Ansari said India has attempted inclusive economic growth within the framework of a Parliamentary democracy so that all sections and groups have a stake in the growing prosperity of the nation.
"We believe that there is an ideal synergy between Czech technology and India's growing market. There is also scope for cooperation between our universities and cultural institutions," he said.
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