Synopsis
Italy's Deputy PM Antonio Tajani has announced plans to enhance investments in India, alongside increasing exports and attracting Indian investments. He emphasized the strategic importance of India in the Indo-Pacific region and highlighted the potential for collaboration in various sectors.Key Takeaways
- Italy aims to boost investments in India.
- Importance of Indo-Pacific stability for trade.
- Bilateral trade between Italy and India exceeds $14 billion.
- Opportunities in innovation and AI sectors.
- Joint Strategic Action Plan 2025-29 for future collaboration.
New Delhi, April 11 (NationPress) Antonio Tajani, Italy's Deputy Prime Minister and Minister of Foreign Affairs, expressed on Friday the intention to increase investments in India, alongside enhancing exports and attracting more Indian investments to Italy.
India plays a pivotal role in maintaining stability in the Indo-Pacific region, which is vital for strengthening trade, he pointed out.
While addressing the "Italy-India Business, Science and Technology Forum" in New Delhi, he highlighted that Italy is an economy with vast potential, and there is a desire to bolster this cooperation.
"Italy and India are natural economic allies. Together, we aim to enhance our collaboration for a future-oriented partnership that focuses on higher education, innovation, and research. Today, Italy and India are more closely connected than ever, with bilateral trade exceeding $14 billion. We aspire to invest more in India, export more to India, and attract additional Indian investments to Italy," he stated.
Tajani noted that fields such as innovation, artificial intelligence, supercomputing, space technology, and defense hold significant potential for collaborative ventures, and both nations should focus on attracting investments in these sectors.
Piyush Goyal, Union Commerce Minister, remarked that there remains considerable opportunity for expanding bilateral trade between India and Italy if both nations collaborate effectively, encourage investments, and promote commerce without obstacles.
Goyal further projected that the Indian economy is expected to grow from $4 trillion to $30-35 trillion by 2047, making India a compelling case for deepening engagement with the European Union, particularly with Italy.
"There are numerous unexplored sectors such as fashion, luxury goods, food processing, pharmaceuticals, tourism, green technology, advanced manufacturing, and automobiles," the Minister emphasized.
In light of the global challenges currently faced, it is reassuring to witness the strength and depth of the Italy-India relationship, he added.
"This forum serves as a timely platform and a valuable opportunity for us all to commit towards implementing the Joint Strategic Action Plan 2025-29 initiated by Prime Minister Narendra Modi and Prime Minister Giorgia Meloni in November 2024. It represents a forward-looking, ambitious, and pragmatic roadmap with a strong focus on trade, investment, and innovation," Goyal stated.
During the event, S. Jaishankar, External Affairs Minister, mentioned that the trajectory of India’s progress combined with the capabilities of the Italian industry presents a favorable partnership. "Make In India today provides a platform for this collaboration to flourish," he concluded.
