February 8, 2002

'16'

    Shri Murasoli Maran, Union Minister of Commerce & Industry, will be leading a high level official and business delegation to Italy and Netherlands from 11^th to 15^th February 2002 to participate in a number of events. In Italy, the Minister will be visiting Rome and Milan. At Rome, Shri Maran will be meeting Mr. Antonio Marzano, Italian Minister for Production activities, and will also address the ‘Destination India’ seminar being organised in collaboration with CONFIINDUSTRIA. A large number of Italian business community are also expected to participate at the event in which enhancing the level of Italian investment into India, particularly in areas such as transportation industry, food processing, textiles and leather will come in for sharper focus. The Minister will also be participating at the Opening Session of the Joint Economic Committee of the two countries on the 12^th February at Rome. Shri V. Govindarajan, Secretary (IPP), will be accompanying the Minister.

    India’s leather industry has been doing remarkably well in the recent past and is poised for even greater progress in the coming years, particularly with the initiatives being set in motion by the Government during the Tenth Plan. Italy is a global leader in leather and occupies a pride of place in fashion leather and Original Brand Manufactures (OBM). The Minister will also be present on the 13^th February at the signing ceremony in Milan, the commercial capital of Italy, where 3 Memorandum of Understandings (MoUs) will be signed between the Indian leather industry and the Italian leather industry and institutes.

    In the Netherlands, Shri Maran will be meeting Mr. Ybema, Dutch Minister of Foreign Economic Relations and will also participate at the ‘Destination India’ event being organised at the Hague. The Netherlands is one of the prominent investors into India and major Dutch corporates including Dutch Shell and Phillips are household names in India. Telecommunications, transportation industry, food processing and services sector including banking are some of the focus sectors for Dutch investors in India.

    This opportunity will be availed by the Indian side to highlight the considerable liberalisation the FDI investment regime has undergone in recent years in India and also to apprise the business communities in both the countries of the tremendous investment opportunities unfolding in the country.