Shifting of production facilities to the cost effective regions or country is the latest trend and India and Italy both have the potential scopes for each other.
Italy is planning to shift its high-profile fashion and leather products designing and manufacturing to cost effective countries.
India is better option for Italy's textile and leather sectors and some initiatives have been taken, informed Tamil Nadu council of the Federation of Indian Chambers of Commerce and Industry (FICCI) Chairman M Rafeeque Ahmed.
Combination of India's expansion plan and Italy's business requirement would boost India's economic development process as well as generate lot of employment.
Commerce and Industry Minister Kaml Nath's visit to Italy has been scheduled by Federation of Indian Chamber of Commerce and Industry (FICCI) from November 6, 2006 to enhance co-operation and progress of industrial policy and promotion.
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