Italian fund to strengthen SME ties with India
The 'Go India' fund, set up by seven Italian banks, would help strengthen ties between small and medium enterprises (SMEs) of the two countries, Italy's Minister for International Trade Emma Bonino said on Monday.
By PTI |
KOLKATA: The 'Go India' fund, set up by seven Italian banks, would help strengthen ties between small and medium enterprises (SMEs) of the two countries, Italy's Minister for International Trade Emma Bonino said on Monday.
Briefing reporters at the sidelines of an investment seminar here, Bonino said the Euro 300 million-fund would focus on the specific SME sectors and would facilitate business promotion between the two countries.
In the next three years, bilateral trade between the two countries was expected to touch $10 billion from the current levels of $4.6 billion, she said.
The areas where Italian business was interested were film-making, mechanics, traditional craft, biotechnology, infrastructure, logistics, chemicals, pharmaceuticals and distribution in India. West Bengal was a focus state since there was excess power, she said.
The investment seminar, titled 'Indo-Italian synergy: Investment Destination - West Bengal' is being attended by 350 Indian and 250 Italian delegates. Nearly 300 Italian firms are participating in the two-day meet, which would be addressed by Italian Prime Minister Romano Prodi on Tuesday.
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