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Our Bureau

Chennai, Sept. 18

An Indian economic mission, which will visit Italy between November 5 and 8, hopes to convince Italian leather companies to look at India as a possible destination to outsource their manufacturing. The Union Commerce and Industry Minister, Mr Kamal Nath, will lead the mission, which aims to initiate business dialogue between industrialists of the two countries. Addressing a meeting at the Council for Leather Exports (CLE) on Sunday, Mr M. Rafeeque Ahmed, Chairman - Tamil Nadu State Council, FICCI, and Chairman, CLE, said that the delegation would try to interact with Italian banks, to enlist their support when Italian companies look to re-locate production to countries such as India.

Italian companies now outsource a lot of manufacturing in leather to East European nations, where currently costs are rising, he said. Inevitably, the companies must look at Asian destinations and the purpose of the visit was to advertise India as one among those. The delegation may also visit Portugal and Romania to look at business opportunities in those two countries.

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