In a bid to intensify Gujarat’s bilateral trade with Italy, the Gujarat regional office of Associated Chambers of Commerce and Industry of India (Assocham) will be taking a 10-member trade delegation to Italy between October 8 and October 15 to explore trade opportunities there.
This trip is an outcome of the memorandum of understanding (MOU) signed between the trade body's Gujarat council and the Federation of Italian Districts at the Vibrant Gujarat Global Business Summit held in January 2011 earlier this year. The delegation comprising of leading business conglomerates from diverse sectors such as textiles, gems and jewellery, base metals and automobile components will visit Rome, Milan, Treviso, Treiste and Venice as part of the trip.
“Assocham is keen in expanding India’s ties with Italy with special focus on sectors like – ceramic products, wood and wooden products, textiles, innovative technologies, technology up-gradation, technology transfer, technology incubation and innovative technologies," said Bhagyesh Soneji, chairperson, Assocham Gujarat council.
While Italy figures among India’s top five trading partners in the European Union (EU) it is the 12th largest investor in India. According to an Assocham estimate; the bilateral trade between India and Italy is likely to cross Rs 60,000 crore in the financial year of 2011-12 from the level of about Rs 46,800 crore during the last fiscal.