India is expected to become the world’s third-largest economy by 2030. In recent years, the country has achieved remarkable milestones that further reinforce its potential and long-term growth trajectory.
India ranks third globally in the number of unicorns, it became the fourth country to successfully land on the Moon in 2023, it is the world’s second-largest producer of STEM graduates (over 2.5 million annually), and accounts for 19% of the world’s software engineers. India’s GDP has grown at a pace well above the global average, with an average annual growth rate of 6.4% over the past decade. Strong demographic trends (an additional 241 million people by 2050) are expected to drive a significant increase in domestic consumption, while the country’s development agenda requires greater investment and access to advanced technologies. India’s objective is to expand its manufacturing base and strengthen its position in international trade. This provides the backdrop to Italy–India economic relations, which have traditionally been strong and offer significant scope for further expansion.
A clear demonstration of this is the Italy–India Joint Strategic Action Plan 2025–2029, adopted on the margins of the G20 Summit in Rio de Janeiro on 18 November 2024 by Prime Minister Giorgia Meloni and Prime Minister Narendra Modi. The Plan provides a detailed roadmap for deepening economic and industrial cooperation through joint initiatives, concrete projects and direct investments.
The Action Plan builds on the process of strengthening bilateral relations initiated with the establishment of the Italy–India Strategic Partnership in 2023 and further enhanced through the subsequent elevation of bilateral ties to a Special Strategic Partnership in 2026. Alongside traditional sectors such as transport, infrastructure, manufacturing and the green economy, new high value-added areas are emerging, including advanced technologies, start-ups and innovation, Industry 4.0, critical raw materials, the digital sector, and the space and defense industries. Implementation of the Action Plan has already produced its first tangible results in 2025 through a series of economic forums. The first one, the Italy–India Business, Science and Technology Forum, was held in New Delhi on 10–11 April, bringing together more than 730 delegates and 484 companies, which took part in over 400 B2B meetings. A few months later, on 5 June, the Italy–India Business Forum for Growth was held in Brescia, gathering more than 400 participants for around 170 B2B meetings in one of Italy’s leading manufacturing hubs.
A third Economic Forum took place in Mumbai in December 2025, focusing on economic cooperation in the automotive, renewable energy, sports technology and agri-food sectors, with innovation and technology as cross-cutting themes.
Trade Exchange and Entrepreneurial Presence
In 2025 and during the first months of 2026, Italian exports to India reached €5.7 billion (+9.4% compared to 2024), making India Italy’s second-largest trading partner in Asia and accounting for 9.8% of Italian exports to the region.
Total bilateral trade amounted to €14.2 billion. Italy’s three main export sectors to India are machinery and electrical equipment (€2.08 billion, accounting for 36.5% of total exports), chemicals (€604 million, 10.6%), and basic metals and fabricated metal products (€523 million, 9.2%). Imports from India are led by basic metals and fabricated metal products (€1.6 billion), chemicals (€1.2 billion), and textiles and apparel (€1 billion).
There are 1,057 Italian companies operating in India, employing an estimated 60,000 people and generating a combined turnover of €9.7 billion. Their presence ranges from wholly owned subsidiaries and joint ventures to representative and commercial offices.
The main locations of Italian companies are Mumbai–Pune (Maharashtra), Delhi–Gurugram–Noida (National Capital Region), Chennai (Tamil Nadu) and Bengaluru (Karnataka), which is India’s leading hub for information technology and innovation. Increasing attention is also being directed towards Gujarat and Rajasthan, where the number of Italian manufacturing facilities continues to grow.
As of 2024, Italy’s stock of foreign direct investment in India amounted to €6.892 billion, while India’s stock of FDI in Italy reached €490 million.
Institutional Presence in Support of Companies
One of the Embassy’s core institutional responsibilities is to monitor developments in the Indian economy and coordinate Italy’s economic promotion activities, with the objective of fostering bilateral trade, investment flows, and scientific and technological cooperation.
The Embassy and the entire Sistema Italia network are available to support Italian companies operating or investing in India. Italy is represented in India by three Consulates General (Mumbai, Kolkata and Bengaluru), a SIMEST office in New Delhi, a SACE office in Mumbai, the Italian Trade Agency (ITA/ICE), and the Indo-Italian Chamber of Commerce and Industry (IICCI). They are all working in close coordination to promote bilateral economic relations and support the internationalization of Italian businesses.
To promote the country, the Embassy works in collaboration with representatives of the Italian business community and coordinates the work of other institutional bodies active in India:
Consulate General in Bengaluru