(Adnkronos) – Italy’s state investment agency Simest and the Indian Chamber of Commerce signed an accord on Thursday to propel economic growth by bolstering cooperation between Italian and Indian companies and supporting bilateral investments in both countries.
The Memorandum of Understanding aims to foster joint initiatives and aid access to business opportunities and joint ventures between Italian and Indian companies with support from Simest’s financial instruments, the agency said in a statement.
The Mou foresees the exchange of knowledge and information, including sharing of investment opportunities, mergers and acquisitions, new industrial projects and start-ups and the creation of a stable collaboration network between the two business communities, the statement continued.
The agreement was signed at an Italy-India business forum in Mumbai in the presence of foreign minister Antonio Tajani, India’s industry and trade minster Piyush Goyal, Simest chief executive Regina Corradini D’Arienzo and ICC director-general Rajeev Singh, the statement added.
The MoU “confirms Simest’s clear desire to support Italian companies’ investments in a key market for high-quality Italian goods such as India, with financial instruments and dedicated know-how,” the statement cited Corradini D’Arienzo as saying.
“India is a priority country in the foreign ministry’s export action plan and Simest is committed to consolidating trade relations between the two countries,” she continued
Simest opened an office in Delhi this year and launched targeted measures to boost Italian investment in the country, Corradini D’Arienzo noted.
