Trade between India, Italy can go beyond current $8.8 billion: Modi

By: | Published: October 31, 2017 6:37 AM

Trade between India and Italy can go beyond the current $8.8 billion, said Prime Minister Narendra Modi on Monday.

India,  Italy, trade, $ 8.8 billion, Narendra Modi, Paolo GentiloniTrade between India and Italy can go beyond the current .8 billion, said Prime Minister Narendra Modi on Monday. (Reuters)

Trade between India and Italy can go beyond the current $8.8 billion, said Prime Minister Narendra Modi on Monday. Addressing mediapersons jointly with his visiting Italian counterpart Paolo Gentiloni, Modi said “India and Italy have shared very good ties. There has been strong commercial cooperation. India and Italy can take their bilateral trade beyond the current $8.8 billion.” Stating that the two countries have inked pacts in several areas, Modi said that food processing, infrastructure and tourism are key areas where the two countries can strengthen cooperation and contribute to their economies.

Italian Prime Minister Gentiloni also called upon Indian industry to identify business opportunities, including in Italy’s textile, automotive, leather, machinery and chemical sectors. At the end of delegation-level talks, the two sides signed six memoranda of understanding (MoU) across various fields to further strengthen the bilateral relations between the two countries. The MoUs signed between the two sides included joint declaration of cooperation for safety in the railway sector and MoU on 70 years of diplomatic relations, among others.

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