Date:05/01/2007 URL: http://www.thehindu.com/2007/01/05/stories/2007010500811700.htm

Business

Italian Prime Minister to lead business delegation to India

Special Correspondent

Bilateral trade stands at around $3 billion

NEW DELHI: Italian Prime Minister Romano Prodi will lead high a level business delegation to India with a view to enhancinge economic ties between the two countries.

Engaged in preparing the ground for Mr. Prodi's visit some time next month, Italy's Minister for International Trade and European Affairs, Emma Bonino, who addressed a FICCI (Federation of Indian Chambers of Commerce and Industry) seminar, said on Thursday that the delegation accompanying the Prime Minister would lay special emphasis on sectors such as food processing, auto components, services, technology and small and medium enterprises (SMEs).

Key areas identified

She said that while Italy would reinforce economic cooperation, it had already identified key areas like food processing, auto components, fashion designing and jewellery where business houses from the two countries could collaborate.

According to Ms. Bonino, the Italian delegation would comprise industrial houses as well as SMEs and would visit Kolkata, Mumbai and Bangalore.

"At present, trade between India and Italy stands at $2.5-3 billion. However, this figure is not satisfactory and the two countries should aim at achieving a trade of $10 billion in the next three years,'' she said.

Focusing on the need to develop the SME sector, Ms. Bonino said a large part of the Italian population depended on the sector, which would be promoted as a vehicle for sustainable development. "We would also push for Indo-Italian meets for women entrepreneurs from both the countries to encourage business-to-business interactions,'' she added.