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Economic Cooperation

 

Economic Cooperation

Main events organized in 2020:

Virtual Summit between the Prime Minister of Italy, Giuseppe Conte, and the Prime Minister of the Republic of India, Narendra Modi (06 November 2020)

Indo-Italian digital mission on food-processing (15-16 July 2020)

A solid and wide-ranging economic partnership exists between India and Italy, focused on five key sectors identified in the 2020-2024 Action Plan, adopted during the Summit between the two Prime Ministers at the end of 2020: green economy, agro-food Industry, infrastructure, digital and manufacturing/lifestyle.

Inter exchange and entrepreneurial presence

In 2019, trade between Italy and India had exceeded 9 billion dollars, with India's exports to Italy of 5.15 billion and 4 billion of Italian exports to India, with Italy in third position among the EU suppliers, after Germany and France. In 2020, the effects of the pandemic led to a reduction in trade, which amounted to just over 7.25 billion dollars, with Italian exports to India amounting to 3.036 billion dollars (-23.9% compared to the previous year) and Indian exports to Italy of 4.236 billion dollars (-17.8 compared to 2019).

Machinery and equipment continue to represent the first items of Italian exports to India, with a share of around 37%; on the other hand, as regards Indian exports to Italy, goods that fall into the categories of textile-clothing-leather accessories and metallurgical products are predominant.

There are more than 600 Italian companies in India, with an estimated 24,000 units and forms of presence ranging from: 100% owned subsidiaries, Joint Ventures (solution preferred by SMEs, mandatory in sectors with maximum ceilings for foreign investments) or commercial representative offices.

The main geographical areas of settlement of Italian companies are the industrial hub of Delhi-Gurgaon-Noida (so-called Capital Belt), Mumbai-Pune (Maharashtra), Chennai (Tamil Nadu) and Bangalore (Karnataka), where the IT and innovation sector is concentrated. Also noteworthy is the growing attention to Gujarat and Rajasthan, where the first Italian plants are starting to register.

Institutional presence to support business

The Embassy's institutional tasks include monitoring the performance of the Indian economy and coordinating Italy's economic promotion activities, with the aim of promoting the growth of trade and investment flows, bilateral science and technology cooperation.

For the promotion of the country, the Embassy works in collaboration with representatives of Italian business and coordinates the work of other institutions active in India:

LINKS

Consulate General of Italy in Mumbai

Consulate General of Italy in Kolkata

ITA (Italian Trade Agency)

Indo-Italian Chamber of Commerce and Industry

SACE

ENIT


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