Chennai: Italian prime minister Romano Prodi
is expected to lead a delegation of around 150 Italian
businessmen during his Indian visit next year. Italy
has declared 2007 as the year of Italy in India.
to Vittorio Mecozzi, trade commissioner, Italian Trade
Commission, Mumbai, India is now the focus country for
Italy and most of the latter''s overseas investments
will be here. "Italy will showcase its strengths
in textiles, automobiles, food processing, defence and
life style sectors to the Indians."
bilateral trade between India and Italy is around $4
billion with the balance of trade in favour of India.
During 2004-05 Italy ranked fourth amongst the 25 European
Union countries in imports from India ($2,165 million)
and is the fifth largest exporter to India ($1,325 million).
April 2005-March 2006 India''s total imports from Italy
amounted to $1.8 billion while Italy''s total imports
from India was $2.4 billion. In terms of overall Indian
imports and exports, Italy ranks 17th and 9th respectively.
of the exports comprise investment and technological
goods, unfinished goods for industry with an interesting
presence in durable goods.
India and Italy have also decided to set up a Joint
Working Group (JWG) on infrastructure, which would provide
necessary structure for enhanced cooperation, and building
business ties in this sector. The objective of this
is to spur Italian investments that would also bring
Italian technology for India''s infrastructure. The first
meeting of the JWG will be held in New Delhi in January
2007. It has also been decided to intensify cooperation
in the food-processing sector.
a part of promoting Italy to Indian businesses, the
Italian Trade Commission, Indo Italian Chamber of Commerce
and Industry, Cultural Institute and ENIT (Italian State
Tourist Board) and the Italian Embassy is holding a
month-long Italian Festival called the Festa Italiana
2006 in India.
this period the Italians will showcase the best of the
`Made in Italy'' in sectors like food processing, chemicals,
tourism, textiles, life style, ceramics and wine, to
Indian industry through seminars, round tables and B2B
meetings. In addition, seven Italian universities will
also present their courses in ICT, industrial design
and management to the Indian students.
festival will be held in the four Indian metros
Mumbai, Delhi, Kolkata, Bangalore and Chennai. Apart
from the business meetings, the month long celebration
includes festival of Italian films, Italian language
day, Indo-Italian musical evening and wine tasting session.
to Sergio Sgambato, secretary general, The Indo Italian
Chamber of Commerce and Industry, the Festival Italiana
has over the
last four years grown to be recognized as a platform
that has contributed significantly to the India-Italy
partnership. "The emphasis this year will be on
furthering the trade and business ties."