The Italian region of Piemonte is wooing Indian auto component industry with special incentives, including faster clearance of investment proposals, to set up shops there.
The provincial government is also aiming to promote outsourcing of components from India by Italian firms like Fiat for their European operations.
"We have a system of special incentives for companies setting up business in our province and we are keen to extend it to Indian auto component manufacturers," Regione Piemonte Minister for Federalism, Decentralisation and Local Authorities Sergio Deorsola told PTI here.
The incentives include streamlining investment proposals, sharing of technology with Italian firms and special allotments.
"Over 660 companies (from across the world) have set up shops in Piemonte and we now expect Indian firms to do the same. I have had discussions with Indian industry leaders during my ongoing visit here to appraise them about it," Deorsola said.
Piemonte, with a population of 4.4 million and located in North-West Italy, exported agricultural and transportation components and machineries worth Rs 6 lakh 45,000 crore (Euro 95 billion) to India in 2008, accounting for 7.7 per cent of the country's total exports to India.
The global headquarter of Fiat is located in Turin, the regional capital Piemonte.
