Italian minister expresses concern for high Indian tariff barrier

Kolkata, Feb 12 (UNI) Italian minister for International Trade Emma Bonino today felt that high trade barrier was the main stumbling block for speedier growth of two way trade between her country and India.

Speaking to newsmen at the end of the first day's session of the two day "Indo-Italian Synergy", Ms Benino said because of the high tariff barrier many Italian industries were not finding the proposal to come to India for investment attractive.

However, in order to tide over the crisis the Small and Medium sector Enterprises(SME)in Italy had recently formed a consortium to avoid the burden of tax at individual level, the Italian minister and the former head of the European Commission, said adding that as such more than 400 SME sector entrepreneurs had come to India as part of the largest business delegation accompanying Prime minister Romano Prodi to explore further business opportunity.

Asked about other problems her country was facing in terms of increasing the volume of business in India, Ms Bonino said they included lack of marketing initiatives, red tapism and inadequate FDI in the Indian Banking industry.

Referring to the world class Italian expertise in terms of the production of machine tools, leather goods and packed food items, all of which were also the three largest foreign exchange earners of her country, Ms Bonino said in the wake of the rapid industrialisation programme of India, and particularly of West Bengal, these could be the three most attractive areas for investment.

The Italian minister also underscored the importance of increasing the air connectivy between the two countries and said the leading private airlines in her country -Euro Fly - and Jet Airways of India had recently introduced two bi-weekly flights between Rome, Milan and New Delhi, while the Alitalia, the Italian National Carrier, had also increased two flights from Mumbai recently.

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