By IANS,
New Delhi : With the Indian economy still on an upswing despite recession in parts of the developed world, Italy is mounting a trade charm offensive in India with its foreign minister, Franco Frattini, leading a 280-strong business delegation here next week.
Ministers of trade and defence are also accompanying Frattini on the visit, that will focus on scaling up trade and investment between the two countries. The trade delegation comprises top Italian corporate honchos representing key sectors like defence, automobiles, infrastructure and agri business.
The Italian ministers are expected to interact with Indian businessmen at a meet orgaised Monday by the Federation of Indian Chambers of Commerce and Industry (Ficci) and its Italian counterpart Confindustria. Commerce Minister Anand Sharma is expected to address the business conclave.
Frattini will meet External Affairs Minister S.M. Krishna and discuss a host of bilateral and global issues, including trade and investment, the global financial crisis and terrorism.
Defence cooperation will be in focus as the Italian delegation’s visit comes at a time when India is about to open the commercial bids for the $10.4-billion deal for 126 Medium Multi-Role Combat Aircraft (MMRCA).
Eurofighter is one of the two shorlisted contenders. Britain’s BAE Systems has a 33percent stake in the Eurofighter consortium, while Italy’s Alenia Aeronautica, a subsidiary of Finmeccanica, has a 21 percent stake.
The Italian team is also expected to visit some northeastern states to explore investment opportunities in areas like bamboo, rubber and handlooms.