Italian delegation inks 11 MOUs with Indian Corporates

Mumbai, Feb 14 (UNI) As the Indian economy witnesses a growthrate of more than nine per cent this fiscal, as many as a mind-boggling eleven trade agreements were today signed between Italian and Indian Corporates, in the presense of Italy's Prime Minister Romano Prodi and Union Minister of Industry and Commerce Kamal Nath here.

It is pertinent to note here that for the first time an Italian business delegation is led by the Italian Premier himself.

''Now investments between Italy and India are a two-way process.

Our growth compliment each other. We have to work together to tailor our economic policies in order to achieve optimum growth,'' Mr Romano Prodi observed, before the formal inking of the agreements.

The agreements include a Memorandum of Understanding (MOU) between Fiat Spa and Tata Motors, between Ivec Spa and Tata Motors, Selex Sistemi Integrati Spa and Bharat Heavy Electricals Ltd (BHEL), Eni Spa and Oil and Natural Gas Corporation Ltd (ONGC), Piaggio Group and Intesa Sanpaolo, a letter of intent between Carraro Spa and Mahindra&Mahindra, two partnership agreements between STMicroelectronics and Birla Institute of Technology&Science and between STMicroelectronics and IIT Delhi, Pininfarina Spa and the National Institute of Design (NID), Pioneer Investments (UniCredito Italiano Spa) and Bank of Baroda, a joint venture agreement between Elettronica Spa and ALPHA Design Technology pvt ltd and lastly a MOU between Tecnimont Spa (TCM) (a Marie Tecnimont group) and Engineers of India Ltd (EIL).

UNI