Prodi urges India-Italy to forge close ties
By TNN |
Kolkata: The Italian prime minister Romano Prodi has urged Indian businessmen to forge close business links with the country while announcing Italy’s decision to focus on India as a bridge to Asia.
Speaking at Italia-India 2007 business forum organised by Ficci, Prodi who is leading a 400-plus business delegation --- the largest ever to India, said: “We need to go global. While Italy is looking at India to act as a bridge to Asia, Indian businessmen will also be welcomed in the Italian market. We will support Indian businessmen keen to come to Italy.
After all, the European market is estimated to get bigger than the US market in a few years,” Mr Prodi added. Kolkata and West Bengal will be an integral part of Italy’s focus on India, Mr Prodi told the delegates.
The tenor of his speech matched those earlier made by Giuseppe Morandini, vice president of Confiindustria. Confiindustria represents 90% of all Italian businesses. “We are ready to open up the operation phase of new business opportunities. India’s strong thrust to manufacturing has struck a chord in Italy. We are willing to play cricket in Rome,” Morandini said on the issue of doing business with India. There are a few steps that need to taken by both sides to facilitate stronger ties between the two countries. Bureaucratic delays and red tapism is one. The other is easing of financial sector norms in India.
“A number of Italian banks are eager to interact in Indian market. In this direction, easing of norms in the Indian banking sector for opening of new branches, capitalisation, risk towards single borrowers etc, could be of huge benefit,” Giuseppe Zadra, general director, ABI Italy’s apex bank organisation said. ABI presently manages assets worth 2.5 trillion Euro.
Saroj Poddar, immediate past president of Ficci there were interactions between some 360 Indian companies and Italian counterparts on Monday, which gives an indication of the possibility of bilateral business and economic co-operation between the two countries.
Speaking at Italia-India 2007 business forum organised by Ficci, Prodi who is leading a 400-plus business delegation --- the largest ever to India, said: “We need to go global. While Italy is looking at India to act as a bridge to Asia, Indian businessmen will also be welcomed in the Italian market. We will support Indian businessmen keen to come to Italy.
After all, the European market is estimated to get bigger than the US market in a few years,” Mr Prodi added. Kolkata and West Bengal will be an integral part of Italy’s focus on India, Mr Prodi told the delegates.
The tenor of his speech matched those earlier made by Giuseppe Morandini, vice president of Confiindustria. Confiindustria represents 90% of all Italian businesses. “We are ready to open up the operation phase of new business opportunities. India’s strong thrust to manufacturing has struck a chord in Italy. We are willing to play cricket in Rome,” Morandini said on the issue of doing business with India. There are a few steps that need to taken by both sides to facilitate stronger ties between the two countries. Bureaucratic delays and red tapism is one. The other is easing of financial sector norms in India.
“A number of Italian banks are eager to interact in Indian market. In this direction, easing of norms in the Indian banking sector for opening of new branches, capitalisation, risk towards single borrowers etc, could be of huge benefit,” Giuseppe Zadra, general director, ABI Italy’s apex bank organisation said. ABI presently manages assets worth 2.5 trillion Euro.
Saroj Poddar, immediate past president of Ficci there were interactions between some 360 Indian companies and Italian counterparts on Monday, which gives an indication of the possibility of bilateral business and economic co-operation between the two countries.
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