Business Daily from THE HINDU group of publications
Friday, Mar 28, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Mar 28, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Foreign Trade Kamal Nath for expanding ties with Italy Our Bureau New Delhi, March 27 Luxury is not a product but an emotion and it has both aspirers and admirers. India will be a huge market for luxury goods and it will engage the world in terms of globalisation, said the Union Commerce and Industry Minister, Mr Kamal Nath. Stating that the centre of gravity of economic activity is shifting from West to East, he said in the last two months Indian companies have invested $2 billion in various markets as against $400 million investments into India, he said. Speaking at the signing of an MoU between the Confederation Indian Industry and Altagamma, the association of Italian luxury goods manufacturers, the Minister called for deeper cooperation for creating a win-win situation for both the nations. He said the growth of India has a lot to do with the private sector in all segments. The CII and Altagamma MoU will encourage, promote and facilitate cooperation in the high end luxury market in the two countries and establish effective communication between members of both the organisations, Mr Sanjiv Goenka, Past President CII, said. More Stories on : Foreign Trade
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