Bilateral trade between Italy and India

 The Italian government has set a trade target of 10 billion euro in the next three years with India, from the current level of about Euro 4 billion.

In a move to improve the trade relation with India, the Italian Minister for International Trade and European Affairs, Ms. Emma Bonino, today called for a higher level of economic and commercial engagement between India and Italy, a FICCI press release reports.

Stating that 2007 for Italy will be the ‘Year of India’ in terms of trade initiatives, Ms. Bonino pointed out: “ We are preparing a significant programme tailored to encourage and support joint actions between the two countries.”

Ms. Bonino exhorted Italian and Indian business to concentrate in promising areas such as fashion design, chemicals, food processing, infrastructure development, auto components, IT, jewellery, services, and movie production and distribution

Responding to the suggestions by the FICCI President, Mr. Saroj Kumar Poddar, the Italian Minister called for increased cooperation between Italian and Indian SMEs as they guaranteed employment, growth and social cohesion to the local communities (clusters) and contributed to balanced socio-economic development.

The meeting was also addressed by the Italian Ambassador to India, Mr. Antonio Armellini and the FLO National President, Mrs. Mukta Nandini Jain.