• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai , June 2

The infrastructure and engineering sectors in Tamil Nadu could see greater foreign direct investment from Italy over the next three years.

With focus on upgrading non-metro airports, Italy is also considering developing roadways in Tamil Nadu, Mr Antonio Armellini, Ambassador of Italy in India, said today.

Speaking at a meeting organised here by the Federation of Indian Chambers of Commerce and Industry (FICCI) today, Mr Armellini said that agro processing, IT, bio-technology and auto components were other areas that Italy was interested in.

He also indicated the possibilities of new joint ventures in the fashion and design technology space.

Bilateral trade

The Indo-Italian bilateral trade during 2004-05 was $3.5 billion (about Rs 15,776 crore) and this is expected to double over the next three years, said Mr Armellini. Italian companies that have invested in India include Fiat Auto, Heinz and Perfetti. Major joint ventures include Hindustan Machine Tools-Olivetti for cylindrical grinders, DCM -Benetton for fabrics and clothing.

Focus areas

Mr M. Velmurugan, Director Industrial Guidance & Export Promotion Bureau, Tamil Nadu said the State was looking at cooperation from Italy in areas of SME development, food processing and fashion technology along with increased focus on existing tie ups in the leather and textile industry.

Also, FICCI and the National Institute of Design, New Delhi, have an agreement for cooperation in design and fashion management with Bocconi University and Altagamma of Italy.

More Stories on : Foreign Direct Investment | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
US receives sufficient H-1B applications to meet FY'07 cap

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line