This article covers trade between India and Slovakia, the goods exchanged, the Joint Economic Committee and other business mechanisms, and Indian investment in Slovakia. Slovak investment in India is covered in a separate article of this guide. The source is the Ministry of External Affairs (MEA) bilateral brief on India and Slovakia, which is undated and records events up to March 2026.

Trade figures

The MEA brief, current to March 2026, states that trade and investment ties have experienced positive growth in the last two years. According to Slovak Statistical Office data cited in the brief, total bilateral trade in 2024 reached an all-time high of US$ 1.3 billion, crossing the US$ 1 billion mark for the first time.

In 2025, bilateral trade figured US$ 1.8 billion, which the brief describes as annual growth of 28%. It was steered by Indian exports of US$ 1.52 billion and imports of US$ 284 million.

The brief gives two sets of figures, from different sources and for different periods. Figures from the Slovak Statistical Office, by calendar year, in US$ million:

  • 2021: India's export 419, India's import 165, total trade 584
  • 2022: India's export 586, India's import 162, total trade 748
  • 2023: India's export 736, India's import 197, total trade 933
  • 2024: India's export 1,138, India's import 243, total trade 1,381
  • 2025: India's export 1,525, India's import 284, total trade 1,809

Figures from the DGFT, Ministry of Commerce & Industry, India, by financial year, in US$ million:

  • 2021-22: India's export 171.13, India's import 101.86, total trade 272.99
  • 2022-23: India's export 190.22, India's import 70.92, total trade 261.4
  • 2023-24: India's export 193.03, India's import 67.60, total trade 260.64
  • 2024-25: India's export 380.38, India's import 74.23, total trade 454.61
  • 2025-26 (Apr-Jan): India's export 205.43, India's import 60.88, total trade 266.31

Main goods traded

The brief lists India's major exports to Slovakia as motor vehicle parts, machinery and mechanical appliances, knitted or crocheted apparel, mobile phones, footwear and parts of footwear, garments, medicaments, propellent powders and electrical apparatus. It states that vehicle parts such as gear boxes, and appliances such as spark ignition engines for cars, contribute more than half of total exports from India.

Imports from Slovakia are dominated by automobiles (cars) and their parts, along with machinery, electrical equipment and rubber products. The brief says this reflects Slovakia's manufacturing base, especially in the automotive sector. Other imports include glass, iron, steel and ceramic products.

Joint Economic Committee

The Indo-Slovak 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. Mr. Vojtech Ferencz, State Secretary in the Ministry of Economy, led a delegation to New Delhi for the 10th Session of the JEC on 13 February 2019.

The latest session, the 12th, was held in New Delhi in February 2025. The visiting Slovak business delegation also took part in the 26th International Engineering & Technology Fair (IETF) in New Delhi.

Economic agreements and business visits

Two agreements in the brief concern business and standards:

  • an MoU between National Small Industries Corporation Ltd. (NSIC), India and Slovak Business Agency (SBA) on cooperation in Micro, Small and Medium Enterprises, signed during the President of India's visit to Slovakia in April 2025;
  • an MoU between the Bureau of Indian Standards (BIS) and the Slovak Office of Standards, Metrology and Testing (UNMS SR), signed during Foreign Minister Juraj Blanar's visit to India in February 2024.

Mr. Lukáš Parízek, State Secretary in the Ministry of Foreign and European Affairs, and Mr. Vojtech Ferencz took part in the 5th India-Europe 29 Business Forum (IE29BF) in New Delhi on 20-21 November 2019. Minister of Economy Mr. Karel Hirman visited India from 27-29 March 2023 for the Smart Cities India Expo 2023. He held a bilateral meeting with the Minister of Commerce, Shri Piyush Goyal, and met the Minister of Power, New and Renewable Energy, Shri R.K. Singh.

Indian investment in Slovakia

The brief lists the following Indian investments in Slovakia:

  • Jaguar Land Rover (JLR): Tata Motors' JLR plant, with an investment of €1.4 billion and annual manufacturing capacity of 150,000 vehicles, started construction in September 2016 and began operation in October 2018. It employs more than 4400 people and produces two models, the Land Rover Discovery and the Land Rover Defender.
  • Tata AutoComp Systems: the company has completed the acquisition of a 100-percent stake in IAC Group (Slovakia), which operates a manufacturing facility in Lozorno near Bratislava, through its UK-based subsidiary Artifex Interior Systems. The brief states that the Slovak operation is expected to operate as Artifex Systems Slovakia.
  • National Engineering Industries (NEI): in January 2020, the CK Birla Group, through NEI, acquired Kinex Bearings. Kinex has an annual turnover of around €60 million, supplies products to over 80 countries and employs around 750 workers (7 Indians) at two plants, in Bytca and Kysucke Nove Mesto, making bearings for railways, industrial segments and the textile industry.
  • Tata Consultancy Services (TCS): TCS opened a branch in Bratislava in 2017 and provides IT services for Jaguar Land Rover in Nitra. Its General Manager for Slovakia is based in Budapest, Hungary.
  • Amara Raja Energy & Mobility Ltd: the brief records an investment of about 9.32% of Inobat, in the electric vehicle battery sector in Slovakia.
  • Dhoot Transmission: in 2017, this Aurangabad-based wiring harness manufacturer acquired the TFC Cable Assemblies plant in Slovakia, which makes wiring harnesses, wiring looms and cable assemblies for the automotive industry.
  • Samvardhana Motherson Group: in 2011, the group acquired 80% of the shares in Peguform GmbH, Germany. Peguform's Slovak subsidiary was renamed SMP Automotive Solutions Slovakia s.r.o. and supplies interior parts for the automotive industry.
  • Alicon Group: in 2010, Illichmann Castalloy, Austria merged into the Alicon Group, and its Slovak plant, Illichmann Castalloy s.r.o. in Zarnovica, which manufactures aluminium products, became a member of the group.