Industry & Economy
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Foreign Direct Investment
Kamal Nath seeks more Italian FDI
Our Bureau
The Prime Minister, Dr Manmohan Singh, with the Italian President, Mr Carlo Azeglio Ciampi, before their delegation-level talks in the Capital on Monday. — Kamal Narang
New Delhi
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Feb. 14
THE Commerce and Industry Minister, Mr Kamal Nath, on Monday invited more foreign direct investments (FDI) from Italian enterprises, while pointing out that the actual inflow of FDI from Italy at $ 448 million was only 1.83 per cent of the total FDI inflow into India from all the countries.
The Minister exchanged views on bilateral and multilateral trade matters with the visiting Italian Minister for Production Activities, Mr Antonio Marzano, when the latter called on Mr Kamal Nath here.
Emphasising the untapped potential for further expanding and diversifying bilateral trade, both the Ministers expressed satisfaction over the signing of the memorandum of understanding (MoU) on fishery and aquaculture products. The MoU was signed between the Ministry of Commerce and Industry and the Italian Ministry of Health.
Mr Marzano is accompanying the President of Italy, Mr Carlo Azeglio Ciampi, on his visit to India. He is accompanied by a CEO's delegation consisting of 31 members led by Mr Luca Di Montezemolo, President, Confindustria (Confederation of Italian Industries) and a delegation from 113 Italian small & medium Enterprises (SMEs).
In all, India and Italy have signed six accords that covered cooperation in space, science and technology, culture (conservation of paintings in Ajanta and Ellora) and fishery and aquaculture production.
The agreements were signed in the presence of Prime Minister, Dr Manmohan Singh and the visiting Italian President.
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