India-Italy holds 19th Joint Commission Session for Economic Cooperation

New Delhi, May 13 (KNN) The 19^th Session of India-Italy Joint commission was held recently in Roma. The main focus of the session was to explore ways and strengthen the economic cooperation further.

The joint commission was attended by Minister of Economic Development Mr. Carlo Calenda from the Italian side. Nirmala Sitharaman, Minister of Commerce and Industry represented the Indian side at the session.

Both India and Italy reasserted the importance of Join Commission Session for Economic Cooperation. This would help both the nations in development of stronger bilateral ties and trade relations.

Also the session is seen instrumental in engaging dialogue between the two countries and further enabling cooperation not just on the economic partnership but on a variety of issues where India and Italy share mutual interest.

Along with the JCEC, Sitharaman also held bilateral meetings with Prime Minister of Italy Mr Paolo Gentiloni and Mr Carlo Calenda.

India and Italy share a consistent trade relation. In the year 2014-15, India’s bilateral trade with Italy was 9.32 billion dollars. This figure came down to 8.28 billion dollars during the year 2015-16. The Global economic slowdown is seen to have shadowed the trade. Despite this, the trade between India and Italy remained stable. The predicted estimate amounts up to 8.80 billion dollars for this fiscal year. (KNN/ DA)