India and Italy Forge Stronger Ties: A New Era of Cooperation in Key Sectors
Strengthening Economic Collaboration
Brescia (Italy): India and Italy have reached an agreement to enhance collaboration across various sectors, including manufacturing, automotive, aerospace, energy transition, and migration, as announced in an official statement on Friday.
The discussions took place during meetings between India's Commerce and Industry Minister Piyush Goyal and Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani.
Brescia, known as Italy's manufacturing center, served as the backdrop for these significant talks.
According to the commerce ministry, both nations have committed to focusing on cooperation in emerging and strategic sectors such as Industry 4.0, aerospace, energy transition, and sustainable mobility.
The leaders also highlighted the necessity of joint initiatives in skill development, digital transformation, migration, and global connectivity projects like the India-Middle East-Europe Economic Corridor (IMEC).
During the 22nd session of the India-Italy Joint Commission for Economic Cooperation (JCEC), co-chaired by the two leaders, several tangible outcomes were achieved.
These outcomes include a mutual agreement to bolster cooperation in agriculture and food processing, as well as the establishment of Joint Working Groups in the automotive and space industries.
The ministry noted that both sides identified opportunities for collaboration in sustainable agricultural value chains, agricultural machinery, food packaging technologies, and renewable energy.
They also expressed a commitment to work together on green hydrogen and biofuels, along with facilitating the movement of skilled professionals between the two nations.
Accompanying the Minister was a robust Indian business delegation featuring leaders from nearly 90 companies, who engaged with Italian industries and held numerous meetings with local enterprises.
Goyal also conducted individual discussions with Italian corporate executives, encouraging their plans to expand operations or establish a presence in India.