At the center of the talks is the strengthening of industrial collaboration
The Minister of Enterprise and Made in Italy Adolfo bear received at Palazzo Piacentini, together with the vice-minister Valentino Valentinesa delegation from India’s government and major businesses led by Minister of Industry and Commerce Piyush Goyal. The meeting comes just over a month after Prime Minister Giorgia Meloni’s mission to India on March 2, which made it possible to elevate bilateral relations between the two countries to the level of strategic partnership. At the center of today’s talks is the strengthening of industrial collaboration, especially in the field of advanced manufacturing.
Italy is also present in India in the sector of infrastructure, where negotiations are already underway between leading companies of the two countries. Opportunities for collaboration also in the sector space, with possible joint research projects between Isro India (the Indian agency for space research) and ASI in sectors such as remote sensing, satellite communication, space science. The possible signing of a memorandum of understanding on the rights of industrial property which will make it possible to offer greater guarantees to companies in the two countries, combating the phenomenon of counterfeiting and promoting the culture of innovation and the development of new technologies.
“The high degree of convergence in the economic and strategic interests of the two countries – observed Minister Urso – constitutes a lasting basis for a long-term relationship, also in light of the new opportunities offered by the strengthening of global value chains.”
The industrial and commercial relations between Italy and India are progressively strengthening. In fact, in two years there has been a doubling of commercial exchanges which in 2022 rose to almost 15 billion euros. The volume of investments in the two directions is also growing and there are currently almost 700 Italian companies present in India with around 50,000 employees. The one stop shop for businesses created at Mimit with the aim of simplifying and accompanying the activities of foreign investors could contribute to this development, in parallel with the 5 million euro fund per year designed to enhance the ability to attract investments from abroad.
The interests of the two countries converge. India aims to find partners able to contribute to the development of its technologies, while Italy looks to Delhi in a strategy of consolidation and diversification of supply chains. Digital, space and defence, energy transition are the sectors with the greatest development opportunities also for the fabric of small and medium-sized Italian enterprises.
Growth margins for industrial relations between the two countries are guaranteed by the enormous potential of the Indian economy, currently the world‘s fifth largest economy. GDP growth estimates are 5.4% in 2023 and 6.4% in 2024.
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