Mumbai, Dec 11
Union Minister of Commerce and Industry Piyush Goyal and Italy's Deputy Prime Minister and Foreign Affairs and International Cooperation Minister Antonio Tajani held discussions here on Thursday centred on expanding bilateral trade, enhancing supply chain resilience, promoting technology partnerships, deepening collaboration in clean mobility, green energy, advanced manufacturing, and food processing.
The meeting between the two ministers and the signing of the 22nd Italy Joint Commission for Economic Cooperation (JCEC) minutes reflect the concrete resolve to translate the strategic partnership into tangible economic outcomes that benefit the people and businesses of both nations, according to an official statement issued after the meeting.
Italy continues to be a pivotal economic partner for India within the European Union. Thursday's meeting provided a significant impetus to trade dynamics, aiming to capitalise on the strong complementary strengths of both economies, the statement said.
The discussions built upon the momentum generated by the elevation of bilateral ties to a "Strategic Partnership" during the visit of Italian Prime Minister Giorgia Meloni to New Delhi in March 2023.
Hosting the meeting in Mumbai, India's financial capital, underscored the shared commitment of both governments to enhancing direct business-to-business connections and facilitating investment flows.
The India-Italy Business Forum was held here on Thursday during the visit of the Italian Deputy Prime Minister and brought together senior government leaders, industry associations, unicorn founders, and more than 150 Indian and Italian companies.
The ministers also engaged with leading Indian Unicorns to explore cooperation in digital innovation, startup ecosystems, AI, deeptech, fintech, and industrial technology solutions.
The Business Forum highlighted India and Italy's shared commitment to strengthening industrial collaboration across priority sectors, including automotive, waste-to-energy & renewables, sport technologies, agri-food, and connectivity, in alignment with both nations' focus on technology-driven growth and sustainable industrial development.
These sessions enabled structured industry-to-industry interactions, pitching by Italian companies, and the identification of joint ventures, co-development avenues, R&D partnerships, and value-chain integrations.
The Forum also featured a large-scale B2B matchmaking session with over 100 business interactions between Indian and Italian companies across manufacturing, renewables, food processing, sports innovation, and transportation systems.
The following business agreements were signed at the forum:
SAIL awarding three major steel plant projects to Italy's Danieli Group, which will supply state-of-the-art green technology for a Blast Furnace, Slab Caster, and Hot Strip Mill with a combined capacity of over 4 million tonnes/year, representing a contract value of around 500 million euros.
Prada S.p.A., Lidcom, and Lidkar have signed an MoU to create a limited-edition sandal line inspired by traditional Kolhapuri chappals, blending Italian design with Indian craftsmanship.
Kuvera S.p.A. and Neopolis Brands Pvt. Ltd. have entered into an agreement to expand Carpisa retail operations in India, with a long-term plan to open 100 stores by 2045.
Cavagna Group has established a new joint venture, Cavagna Group Ace Brass Tech Pvt. Ltd., together with Gatayla, marking a 5 million euros Italian investment with Cavagna holding a 51 per cent stake.
- IANS
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