We look forward to invest more in India, boost exports: Italy's Deputy PM

IANS April 11, 2025 392 views

Italy's Deputy Prime Minister Antonio Tajani has expressed strong commitment to deepening economic ties with India across multiple strategic sectors. The bilateral relationship is gaining momentum, with current trade standing at over $14 billion and potential for significant expansion. Both countries see opportunities in innovation, technology, defense, and emerging industries like green technology and advanced manufacturing. The joint strategic action plan launched by Prime Ministers Modi and Meloni provides a comprehensive roadmap for future collaboration.

"Italy and India are natural economic partners" - Antonio Tajani, Italian Deputy PM
We look forward to invest more in India, boost exports: Italy's Deputy PM
New Delhi, April 11: Italy's Deputy Prime Minister and Minister of Foreign Affairs, Antonio Tajani, on Friday said they want to invest more in India, along with exporting and attracting more Indian investments in Italy.

Key Points

1

Italy aims to expand bilateral trade beyond $14 billion

2

Multiple sectors identified for joint investment including AI and defense

3

Indian economy projected to grow from $4 trillion to $35 trillion by 2047

India is an important country for stability in the Indo-Pacific region, which is crucial to strengthen the trade, he emphasised.

Addressing the "Italy-India Business, Science and Technology Forum" here, he said that the country is an economy with enormous potential, and we want to strengthen this cooperation.

"Italy and India are natural economic partners. Together, we want to strengthen our cooperation for a partnership that looks at the future through higher education, innovation and research. Today, Italy and India are closer than ever. Our bilateral trade is over $14 billion, and we want to invest more in India, export more to India, and attract more Indian investments in Italy," he added.

According to Tajani, innovation, AI, super computers, space technology and defence are a few sectors which have potential for joint partnerships and both countries should work to attract investments in these areas.

Union Commerce Minister Piyush Goyal said there is further scope for expansion in the bilateral trade between India and Italy if we work seamlessly with each other, encourage investments, and promote businesses without roadblocks.

Goyal further stated that the Indian economy is slated to grow from $4 trillion to $30-35 trillion by 2047 and "our goal of Viksit Bharat makes India a compelled case to deepen the engagement between the European Union and India, particularly Italy and India".

"There are untapped newer areas like fashion, luxury goods, food processing, pharmaceuticals, tourism, green technology, advanced manufacturing, automobiles," the minister emphasised.

Amid all the global challenges that the world is experiencing, it is very reassuring to see the strength and depth of the Italy-India friendship, he said.

"This forum is a very timely platform and a good opportunity for all of us to collectively resolve to implement the Joint Strategic Action plan 2025-29 launched by Prime Minister Narendra Modi and Prime Minister Giorgia Meloni in November of 2024. It is a very forward-looking, ambitious and pragmatic roadmap with a strong focus on trade, investment, and innovation," said Goyal.

At the event, External Affairs Minister S. Jaishankar said that the direction of India’s progress and the capabilities of Italian industry make for a good combination. "Make In India today offers a platform or pathway for that collaboration to unfold," he added.

Reader Comments

R
Rahul K.
This is such promising news! Italy recognizing India's potential is a big deal. The $14 billion trade figure is impressive, but I'm most excited about the focus on AI and space tech collaborations. 🇮🇳🤝🇮🇹
P
Priya M.
While I appreciate the positive outlook, I hope these investments actually create jobs for local communities and not just benefit big corporations. The government needs to ensure proper implementation.
A
Amit S.
Fashion and luxury goods? Finally! Maybe we'll get better access to authentic Italian products without the crazy import taxes. My wife would love that 😄
S
Sunita R.
The focus on green technology is crucial. Italy has great expertise in sustainable solutions that India could really benefit from as we work toward our climate goals.
V
Vikram P.
I attended this forum yesterday! The energy was amazing. The Italian delegation seemed genuinely interested in long-term partnerships, not just quick profits. Good signs for Make in India.
M
Meena D.
I wonder how this will affect small businesses. The article mentions food processing - hope local producers get opportunities to learn Italian techniques and upgrade their operations.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Italy-India Relations Antonio Tajani Economic Cooperation Foreign Investment Bilateral Trade Piyush Goyal S. Jaishankar
You May Like!