The Hindu : Tamil Nadu / Chennai News : Italian team to explore business ties

Online edition of India's National Newspaper
Thursday, Feb 08, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Italian team to explore business ties

Special Correspondent

CHENNAI: A team comprising a senior executive of the Rome-based Italian Trade Commission and two representatives of the consortium of small and medium enterprises in the Frosinone province is in Chennai to explore trade and business opportunities.

"We are here on a fact-finding mission ... study the market ... find out best methods to promote growth," Gianni Fiaccadori of the Trade Commission told a meeting organised on Wednesday by the Hindustan Chamber of Commerce.

The team had come down to Chennai from Bangalore and Mysore. There were possibilities for technical collaboration between Indian and Italian small and medium scale units in a number of areas. The aim was to set in motion exchange of information between the firms, he said.

By tying up with Indian firms, the Italian companies could foray into new markets and save labour cost by outsourcing full or part of the manufacturing or research activities. Such partnerships would help them since many small units in Frosinone depended on a few large companies for a significant portion of their turnover and therefore prone to risk. For the Indian partners, it would mean new business opportunities, said Mr. Fiaccadori.

Many of the Italian firms would also be interested in getting associated with Indian firms in specific sectors such as auto components and machinery to establish clusters and promote working in clusters.

Antonella Bianchi, a representative of the Consortium, said the Frosinone province, with 185,000 people, was strategically located between Rome and Naples. Machinery, chemicals, textiles, clothing, pharmaceuticals, marble making and furniture were some of the important areas of its manufacturing sector.

Hindustan Chamber of Commerce president G. Subramanian said the Italian team would be in Chennai for three days.

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