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  • Anand Sharma to lead business delegation to Italy

    Published on January 30, 2011

    Top Indian CEOs will accompany Commerce and Industry Minister Anand Sharma to Italy on Monday to promote two-way trade and attract fresh investments.

    The delegation during its three-day visit, starting 31st January, will have several business meetings and high-level interactions in Rome and Milan, industry body Ficci Secretary General Amit Mitra said in a statement.

    “The visit to Italy has come at a time when the EU seeks to reconfigure its business focus to emerging markets and economic powerhouses like India, with an aim to forge a win-win partnership,” he said.

    At present, Indo-Italian bilateral trade is estimated to be over five billion euros for January-September period of 2010.

    While Italian foreign direct investment (FDI) accounts less than one per cent of India’s total FDI flow of USD 920.15 million in last 10 years.

    According to Ficci, trade ties between the two countries are still underperforming considering India’s booming economy and demand.

    The purpose of the visit is not only to expand bilateral trade and investment, but also achieve “quality partnership” that is potentially possible, Mitra said.

    The Ficci delegation will comprise top CEOs from various sectors, including telecom, hospitality, tourism, fashion and aviation, the industry body said.

    During the visit, the emphasis will be on business cooperation in sectors like chemicals, engineering, food processing, textile and product designing.