Italy eyes investments in Indian Railways, manufacturing, set to end hiatus in ties after row over marine

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Published: February 25, 2017 6:18:08 AM

Italy is sending a 200-member delegation to India in April to scout for investment in railways and manufacturing, New Delhi’s envoy said, ending a hiatus in ties caused by the row over the arrest of Italian marines.

Indian Railways (PTI)

Italy is sending a 200-member delegation to India in April to scout for investment in railways and manufacturing, New Delhi’s envoy said, ending a hiatus in ties caused by the row over the arrest of Italian marines. Indian envoy Anil Wadhwa told FE, “The business delegation’s visit is part of efforts to restart engagement under Prime Minister Narendra Modi’s ‘Make in India’ to boost domestic industry and fuel growth.” “Representatives from various sectors including railways, manufacturing and infrastructure will be part of the delegation led by Carlo Calenda, minister for trade and commerce development of Italy,” he added.

To push the Make in India initiative in consultation with Confindustria (the apex private chamber of Italy), both sides plan to organise an event with expected participation of more than 150 Italian companies. This will be followed by an ‘Indian Exporters and Italian Importers’ meet at Rome and Milan, said the Indian envoy.

Also, to attract more investment from Italian companies in various sectors, a series of commercial events has been planned for the whole year in Rome, including three investment meets in the sectors of renewable energy, engineering and auto components next month.

According to Wadhwa, the Indian embassy, in association with Tour operators Association of Italy (Federturismo) is planning to organise two tourism promotion and investment events in Rome and Verona, with the participation of Indian and Italian tour operators.

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In the last one year, several hundreds of Italian business representatives have participated in various meets in sectors including commerce, investment, promotion of tourism, and academics. The activities were spread out from the north of Italy (Turin, Padova, Verona, Bergamo, Milan, and Florence) to the south (Rome, Napoli).

Last September, with the support of Confindustria, the Indian mission had organised an investment and business meet, which was attended by DIPP secretary Ramesh Abhishek along with officials from Invest India, the ministry of railways and the ministry of food processing.

According to officials, one of the successful outcomes of those initiatives was the participation of senior executives of about 40 Italian companies from the railway, manufacturing and infrastructure sectors in the recently-concluded ‘Bengal Global Business Meet’ held in Kolkata in January

this year.

In a series of events organised to promote tourist traffic both ways, about 30 big tour operators from India participated in events organised in Rome by the Indian mission.

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