Financial Daily from THE HINDU group of publications
Friday, Apr 19, 2002
Financial Daily from THE HINDU group of publications Friday, Apr 19, 2002 |
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Industry & Economy
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Foreign Trade Lombardy eyes Bangalore for IT investments Madhumathi D.S.
Mr Roberto Formigoni
BANGALORE, April 18 LOMBARDY, Italy's rich and powerful northern State and home to fashion capital Milan, is looking at investments from Bangalore's IT companies and developing ties with other sectors in India. Milan is also Italy's own IT hub. Its President, Mr Roberto Formigoni, today began his four-day India visit. The results have been quick. Infosys plans to establish an Italian presence in Milan in 90 days. The State energy generation company, Enel, is setting up an office and studying the local scene, Mr Formigoni told Business Line. India will be a key participant at SMAU, Milan's IT extravaganza, which is considered second only to the Hannover CeBIT fair, he said. Mr Formigoni said the Union Information Technology Minister, Mr Pramod Mahajan, has accepted an invitation to be at SMAU, which begins on October 25 this year. "He will be leading a powerful delegation from the IT sector. We have also invited the Karnataka Chief Minister, Mr S.M. Krishna, and the State IT Minister, Mr B.K. Chandrashekar, to SMAU,'' he said. "We are looking mainly at alliances and convergences with Karnataka enterprises and involvement of Bangalore's IT companies in our e-learning, e-business and e-governance projects,'' Mr Formigoni said. He met Mr Krishna and the Large & Medium Industry Minister, Mr R.V. Deshpande. The delegation is visiting Delhi, Mumbai and Kolkata where there will be meetings on urban waste management. Before the team returns on Saturday, he hoped that some agreements could be signed. The strength of the Lombardy region is its 8 lakh SMEs operating in various sectors — from fashion and design, leather, textiles, white goods, precision tools, to public utilities, transport and infrastructure. The 30-member delegation includes leather, fashion, dairy, wine, banking, electronics, furniture, textiles and urban infrastructure sectors. Traditionally, Italy's Indian connection has been granite, marble and textiles. Today, the Lombardy delegation is looking beyond them and trying to build business alliances with Karnataka enterprises and also cultural and tourism tie-ups. According to the Italian Ambassador, Mr Benedetto Amari, Italian investment in India has gone up from $70 million in 2000 to the present $100 million and is tipped to grow further. The investment in Karnataka is much less than in Maharashtra or UP. The few joint ventures that exist include marble, textiles, chemicals, the better known among them being Zuari in cement. Mr Formigoni is accompanied by the Ministers for Urban Development and Infrastructure, Mr Alessandro Moneta, and the Minister for Water Resources, Mr Maurizio Bernardo.
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