News

India, Italy to boost bilateral Gem and Jewellery trade

To combine design strengths with manufacturing competencies

diamond world news service

THE 17th session of the India-Italy Joint Commission for Economic Cooperation, which met in Rome on November 6th, agreed to focus efforts at building stronger commercial links in the gem and jewellery sector by combining Italian strengths in design and technology with India’s manufacturing competencies and human resource skills, according to an official release.

The meeting was held under the co-chairmanship of Kamal Nath, the Indian union minister of commerce and industry, and his counterpart, Emma Bonino, the Italian minister of international trade.

Both sides decided to step up efforts to boost bilateral trade and investment in sectors like textiles, garments, leather goods and auto components, the report stated. The two countries have decided to set up a Joint Working Group (JWG) on infrastructure to spur Italian investments in the sector, and a transfer of Italian technology. The first meeting of the JWG will be held in New Delhi in January 2007. The Joint Commission also agreed to increase contact between small and medium enterprises (SME) to widen bilateral trade. The Italian government has decided to designate India as the Focus Country for the year 2007 to increase cultural and business exchanges.

The Destination India event, the visit by CEOs to selected sectoral industrial clusters in leather goods (Florence), auto components (Turin), food processing (Parma), textiles and jewellery sectors (Vicenza) have revived business ties and provided a commercial mould to shape Indo-Italian ties, it was reported.

Italy’s Prime Minister Prodi will visit India in February 2007 and will be accompanied by a large business delegation including many prominent CEOs.


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