Date:17/11/2006 URL: http://www.thehindubusinessline.com/2006/11/17/stories/2006111702551100.htm

Back Italian cos keen to invest in Bengal

Our Bureau

Kolkata , Nov. 16

Several Italian companies have expressed their keenness to invest in eastern India in general and West Bengal in particular.

The sectors in which these Italian companies are scouting for investment opportunities include auto and auto ancillaries, leather, textiles, gems and jewellery and agri-business.

Talking to Business Line on the sidelines of a press conference held here today to provide details of the month-long `Festa Italiana 2006', the Vice-Chairman of the Indo-Italian Chamber of Commerce (Eastern Region), Mr Ashok Aikat, said a 110-member business delegation from India led by the Union Commerce Minister, Mr Kamal Nath, visited Italy earlier this month. Of this, 16 members were from this part of the country.

"There has been a positive change in the perception of West Bengal among the Italian business community. They are aware of the growing business potential of the region and West Bengal," he said.

Leather complex

According to Mr Aikat, the Italians are excited over the Kolkata leather complex and ManiKanchan, the jewellery SEZ that has been set up here. "The Kolkata leather complex is the largest of its kind in Asia. The Italians are big in leather and, hence, they cannot ignore it. Likewise, ManiKanchan has attracted them as has the business potential in agro-processing, especially in North Bengal, which is the conduit to the entire North East".

Mr Aikat said that with Tata Motors proposing to set up its small car plant in West Bengal, Italian companies were keen to invest in the auto ancillary sector here. Earlier, Mr Agostina Pinna, Consul General of Italy in Kolkata, provided details of Festa Italiana 2006, which is being jointly organised by the Italian Trade Commission, the Indo-Italian Chamber of Commerce, Cultural Institute and the Italian State Tourist Board under the patronage of the Italian Embassy and its Consulates General in India. The Italian Festival in India will showcase the best of `Made in Italy' in sectors such as banking and insurance, tourism, chemicals, culture, foods and wines.