Power centers in the corridors of power, Extra Con

[acharya]

Italy seeks to beef up trade with India

TIMES NEWS NETWORK[ THURSDAY, MAY 27, 2004 12:50:56 AM ]
KOLKATA: Italian companies are looking at spreading their wings in India. They are scouting for joint ventures and direct investment in areas of their interest. For this, the Italian government is in talks with the Centre to create an institutional framework that will facilitate business and trade between the two countries.


“Companies, especially in the Lombardy region, have used the model of the institutional framework between various countries in Latin America and other Asian regions to set up their presence. They are comfortable working in this manner, which makes it easy for Italian companies to cope with the various legal and other formalities,” said Giammaria Bordoni, deputy regional minister of Lombardy.

Mr Bordoni was speaking at an interactive session organised by the Confederation of Indian Industry (CII) in the city.

Promos, Milan’s leading chamber of commerce, scheduled a visit for a business delegation this year from Portugal and Spain to Kolkata. “The visit would be to scout for opportunities for joint ventures and strengthen business between these countries and India. Companies in sectors such as health care, food and packaging, leather, building materials, ceramics, recreational and tourism will be included in the delegation,” said Raffaello Benetti, director, Promos.

Italy’s goodwill with West Bengal dates back to the visit of chief minister Buddhadeb Bhattacharya to Italy in June ‘02. Mr Bhattacharya had then signed a Memorandum of Understanding (MoU) for business tie-ups in sectors such as social work, tourism, health care, water sources and public utility services.

As part of the MoU, a Rs 125-crore waste management and drinking water supply project in 14 towns of West Bengal has been formalised under the European Commission’s ‘Asia URBS’ programme. Moreover, Lombardy has prepared three technical reports on waste-water sanitation and drinking water in four corporations of West Bengal — Howrah, Asansol, Durgapur and Siliguri.

“Around 40% of the companies in Lombardy and Milan are related to the environmental sector. The companies can work with Indian counterparts, corporations and administration authorities to offer the best technology and convenient solutions,” Bordoni said.

Agostino Pinna, the Italian consulate general said that projects in the infrastructure and agro-business sector between India and Italy, were currently in the conceptualisation stage.