Italian honour for Ratan Tata

MUMBAI: Italy today conferred Tata Group Chairman Ratan Tata with the rank of 'Grand Officer' of the Order of Merit as recognition of the conglomerate's service to Italy.

Italian minister for economic development Claudio Scajola conferred Tata with the rank and expressed hope for enhanced trade between the two countries.

"It is a continuous effort to increase awareness in each country and this has happened over a period of time. The trade between the two countries is still very little and much has to be done about it," Tata told reporters after receiving the honour.

Scajola and his delegation met Commerce Minister Anand Sharma in the Capital yesterday and sought investment from Indian companies in sectors like auto, agro-processing, ports and logistics and energy.

Trade between India and the European nation presently stands at USD 8 billion, which is expected to double in the next seven-years, according to Sharma.