Industry & Economy
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Foreign Trade
India, Italy to focus on commercial links
Our Bureau
New Delhi
,
Nov. 7
India and Italy have resolved to focus efforts at reinforcing stronger commercial links in areas covering textiles, garments, leather goods, auto components, gems and jewellery by combining Italian strengths in design and technology with India's manufacturing deftness and human resource skills.
Joint working group
At the 17th session of the India-Italy Joint Commission for Economic Cooperation held in Rome on November 6, India and Italy have decided to set up a Joint Working Group (JWG) on infrastructure, which would provide necessary framework for enhanced cooperation and build business ties in this sector.
Spur investments
The idea was to spur Italian investments that would bring Italian technology for India's infrastructure.
The first meeting of the JWG will be held in New Delhi in January 2007, an official statement issued by the Department of Commerce said here on Tuesday.
Other decisions
The two sides met under the joint chairmanship of the Union Commerce and Industry Minister, Mr Kamal Nath, and his Italian counterpart, Ms Emma Bonion, Italian Minister of International Trade.
Other major decisions of the Joint Commission include increased importance to small and medium enterprise linkages, which would enlarge the scope of the business-to-business engagement, India as the focus country for the year 2007 by Italy and thrust on cooperation in the food processing sector.
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