Mumbai: Eleven MoUs (memoranda of understanding)
were signed between various Indian and Italian companies
primarily from the auto sector (three) followed by two
each in the defence and electronics, oil and gas, banking
and finance and education sector.
Prime Minister, Romano Prodi, acknowledged the increase
in bilateral trade between the two countries but said
India has to offer easier market access to Italy on
a reciprocal basis. He also pleaded for a reduction
in peak customs tariff.
Motors enhanced its partnership with Fiat Auto, S.p.A
with an overseas industrial project undertaken for the
first time. The companies also decided to strengthen
their commercial relationship by looking at a feasibility
study to enter the commercial vehicle segment jointly
in various markets.
& Mahindra is also set to enhance its product portfolio
by introducing a new transmission from Carraro group
for its upcoming `475 deluxe'' tractor range.
the defence and electronics sector, Selex Sistemi Intergrati,
part of the Finmeccanica group and providing the latest
solutions for air defence, vessel traffic management,
coastal defence and air traffic management systems the
design and manufacture of helicopters, missiles defence
electronics, transportation and energy, has signed an
MoU with India''s largest engineering goods manufacturer,
Bharat Heavy Electricals Ltd (BHEL).
another leading player in electronic defence, has tied
up with Alpha Design Technologies to develop design,
development, production and support for electronic warfare
systems for the Indian defence market.
oil and gas sector saw two agreements between Eni SpA
and Oil and Natural Gas Corporation (ONGC).
primary one being the joint deepwater exploration agreement
signed for local and overseas markets followed by one
signed for hydrocarbon exploration activity in India
and Congo, Brazzaville.
a leading engineering and construction company in oil
and gas, energy sectors has signed an MoU with Engineers
India, to develop common business perspectives in the
partnership agreements have been signed in the education
sector. STMicroelectronics, a global leader in developing
and delivering semiconductor solutions, has tied up
with Birla Institute of Technology and Science (BITS)
Pilani and Indian Institute of Technology (IIT, Delhi)
to jointly set up state of the art research and innovation
labs at their respective campuses. Both labs are expected
to be operational by Q2 - 2007.