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Indo-Italian trade to be double by 2015

Posted on Nov 03, 09:55PM | UNI

Indo-Italian trade and investment are set for a quantum jump and the bilateral trade is expected to be double by 2015.

This was stated here today by Consul General of Italy, Kolkata, Joel Melchiori while speaking at an interactive session on 'Furthering Trade Ties Between India and Italy.' Mr Melchiori said in 2010-11 the total turnover in bilateral trade was Euro 7.21 billion registering an increase of 28 per cent from the previous year.

Similarly in 2011-12, he said the annual rate of growth of bilateral trade was more than 18 per cent to reach Euro 8.52 billion.

"India and Italy in the recent years have put extraordinary efforts in order to bring the economic ties closer to their immense potential with both the countries agreeing to take the bilateral relations to a new strategic position," Mr Melchiori observed.

He said a number of agreements have also been signed by the two countries that include setting up a joint working group on combating terrorism and trans-national crime.

Mr Melchiori informed that the top sectors of Indian exports to Italy were ready-made garments, leather, iron ore, motor vehicles, textiles, chemicals, gems and jewelry.

Major items of import from Italy were machinery, machine tools, metallurgical and engineering products, he maintained.