There are around 30 Indian companies who have invested in Italy and they are doing extremely well,' he said.

Toscano was here to attend an interactive seminar organised by the PHD Chamber of Commerce Tuesday.

Satish Bagrodia, president of PHD Chamber of Commerce, said: 'We need to accelerate our efforts for the growth of bilateral economic cooperation, particularly in view of the current economic scenario.'

'There is need for greater synergy between the business communities of both the countries. There is a huge untapped potential in the field of small and medium scale industries that is the backbone of both countries,' he added.