Decoding the news. Italian Deputy Prime Minister and Foreign Minister Antonio Tajani’s visit to India marks a significant step in tightening bilateral ties between Rome and New Delhi.
- Following similar business forums with the Netherlands and the UK, India and Japan are next in line as strategic partners for Italy.
- The Indian stop, particularly, is rich in economic, political, and symbolic value.
What’s on the table? The two-day Italy-India Business Forum (April 10–11) is centred on four key sectors: industry 4.0, infrastructure and transport, green and energy transition, and cutting-edge technologies.
- A roundtable on innovation and startups will also be held, drawing in investors, accelerators, and tech entrepreneurs.
- During the mission, Simest (the financial institution for the development and promotion of Italian enterprises ) will announce the opening of its new office in New Delhi—an institutional move that complements recent events like Vinitaly’s debut in the Indian capital.
What they’re saying. In an interview with Il Sole 24 Ore, Tajani emphasised Italy’s long-term commitment to export growth regardless of trade barriers.
- “Tariffs or not, our efforts to strengthen exports must continue,” he said, noting India’s growing centrality in Italy’s global economic strategy.
By the numbers. India is Italy’s second-largest trading partner in Asia (after China).
- Italy ranks third among EU trade partners for India (after Germany and Belgium) as bilateral trade has consistently exceeded €14 billion since 2022.
- Italian exports reached €5.2 billion (+ 1%), while imports from India fell slightly to €9 billion (-2%), leaving Italy with a €3.8 billion trade deficit.
- Machinery and high-value-added equipment drive 40.2% of Italian exports.
- India is the second-largest destination for Italian net FDI in the Indo-Pacific, with a total of €6.7 billion.
The political vision. Paolo Formentini, Vice Chair of the Chamber of Deputies’ Foreign Affairs Committee, highlighted the mutual interest growing between Italian and Indian companies.
- “India is a fast-growing economy with a vast consumer base. We share democratic values and a common worldview,” he told Decode39.
- Streamlining administrative barriers, he added, is key to unlocking further trade potential.
- The business forum has drawn a strong turnout from Italy’s industrial elite, underscoring India’s rising appeal.
- “Italy brings world-class industrial strengths to the table, and Indian interest is there,” Formentini noted.
What we’re watching. The development of the India-Middle East-Europe Corridor (IMEC) looms large over the future of Italo-Indian economic cooperation.
- Italy has appointed Ambassador Francesco Maria Talò as special envoy to the project, reflecting Rome’s commitment to securing a Mediterranean foothold in the initiative.
- “The eastern leg of IMEC is already in motion. It’s time for the Mediterranean side to follow suit—for our strategic relevance and for the Italian businesses now investing in India,” said Formentini.
