Innovation, investment and joint venture at the heart of Italy-India economic partnership

India is a priority for Italy. A long-trusted friend, we are linked by culture and values. A strategic partner on major international issues. A privileged interlocutor in the fields of economy, trade, investment and innovation.

Today (December 11) in Mumbai, together with my colleague and friend Minister Piyush Goyal, we are holding the third Business Forum in less than a year.

Some of the best companies from the automotive, agri-food, waste-to-energy, and sports technology sectors are participating in the B2B meetings, sectoral roundtables, with a strong desire to collaborate concretely to bring our economies increasingly closer.

With my visit, I intend to bring more Italy to India and more India to Italy.

India is a large market, an economic power growing rapidly and dynamically. It boasts remarkable achievements in various sectors: from infrastructure to new technologies, from IT services to space.

Italian companies are increasingly interested in this extraordinary and opportunity-rich country. My main goal is to help them achieve ambitious and concrete results.

I recently launched a reform in Italy that reorganises the Ministry of Foreign Affairs under a dual-head structure: a political head and an economic head.

I have also recently launched a Plan on Export, to promote Italian know-how worldwide. India is one of the priority countries of our strategy.

We do not only want to export more. We also aim at increasing industrial collaborations, joint ventures, co-development and co-production projects.

I believe that more trade also means more investments, both ways. After two Business Forums in April and June, we now want to focus on key specific sectors, and turn contacts into contracts.

The timing is right. We are close to the conclusion of a long-awaited EU-India FTA. Italy has always supported an ambitious, balanced, and mutually beneficial agreement. We believe it can provide better and greater opportunities for our entrepreneurs and companies, particularly SMEs -- the backbone of our economy.

Over the course of the year, euro 500 million additional Italian investments in India are a tangible sign of the commitment of our companies.

The Italian Ministry of Foreign Affairs, through the agency SIMEST, has launched a dedicated financing line to India of euro 500 million, to support Italian companies entering the local market and creating JVs.

Our Export Credit Agency has also increased its exposure to the country by about euro 200 million in local currency, on top of more than euro 2 billion of guarantees already issued.

The course is set. Together, we can increase and balance our trade and investment exchanges -- including from India to Italy.

We are a stable country, the second-largest manufacturer in Europe, and we can offer significant contributions to the growth trajectory of the Indian industry and manufacturing, particularly in machinery and industry. It is not just a matter products, but technological solutions.

Our companies are leaders in many cutting-edge fields: from design to advanced manufacturing, from agricultural machinery to engineering services, from the defence industry to renewable energy and recycling.

A very significant driver of our collaboration is innovation.

Today (December 11), together with Minister Goyal, we will launch a joint initiative. Innovit India, a centre in India to foster a structured dialogue between start-ups, companies, universities, and research clusters. A platform for collaboration in fields of common interest such as big data, quantum technology, biotech, AI.

Italy and India are linked by history and geography. We have been for centuries natural terminals of a common Indo-Mediterranean area, dating back to the Roman Empire.

At the time it was about spices and gold. Today, we are working on connectivity, with projects in ports, logistics, and undersea digital links.

Our two governments have outlined a joint strategic action plan 2025–2029. Italy and India stand side by side to ensure its full implementation.

Today. it’s another step of a long and promising journey of friendship and collaboration ahead of us. PTI VJ (Tajani is the deputy prime minister and foreign minister of Italy) ARI