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Italy is offering a single-window clearance for Indian investors with an aim to double bilateral trade between the two countries by 2050, an official said today.
“We have come up with a new scheme for businessmen setting up a business in Italy. There will be a single- window clearance for everything including legal consultation and fast-track visa process,” Joel Melchiori, Consulate General of Italy in Kolkata said at an event here today.
Erica Di Giovancarlo, head of the Italian Trade Commission in India, said there is a great scope to increase cooperation in sectors like automobile, automotive, textiles, and food processing sector.
“At present 400 Italian companies have presence in India mainly in textile and automotive. India and Italy have increased their bilateral trade from €700 million in 1981 to €8.5 billion in 2011,” she said.
She said Italy’s aim is to transfer technical know-how and provide training to Indian companies in technology and increase their production.
India’s demography and retail boom are the two driving factors of growth that attracts Italian companies. While talking about challenges, Erica said high import duty remains a concern.
Pankaj Parikh, Chairman of Indo-Italian Chamber of Commerce, Kolkata, said lifestyle, heritage and infrastructure are some areas where Indian companies can use Italian partnership.
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