Italian companies are showing increasing interest in capitalizing on the diverse opportunities presented by India, according to Antonio Tajani, Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation. During his recent visit to India, Tajani emphasized the strong bilateral relations between the two nations and highlighted the potential for enhanced cooperation across various sectors.
Tajani's visit, his second to India in 2025, underscores the commitment of both countries to strengthen their strategic partnership. This partnership is further solidified by the Joint Strategic Action Plan for 2025-2029, which was adopted in November 2024 by Prime Ministers Giorgia Meloni and Narendra Modi. The plan outlines ten key areas of cooperation, including boosting trade, co-production, and collaboration in sectors like green technologies, advanced manufacturing, defense, and space exploration.
A key focus of Tajani's visit was to promote economic cooperation and encourage Italian investments in India. He expressed Italy's intention to increase trade with India to €20 billion by 2029, a significant increase from the current level of approximately €14 billion. In the first half of 2025 alone, Italian investments in India increased by €500 million. To further support Italian companies, the Italian Foreign Ministry has launched a dedicated €500 million financing line to facilitate joint ventures and market entry.
The Deputy Prime Minister co-chaired the Italy-India Business Forum in Mumbai with Union Minister of Commerce and Industry, Piyush Goyal. The forum brought together senior government officials, industry leaders, and numerous companies from both countries to explore synergies in sectors such as automotive components, agri-food, waste-to-energy, and sports technologies. This was the third such forum held in the year, indicating the growing momentum in bilateral economic relations.
Tajani also highlighted Italy's export ambitions, stating that Italy aims for €700 billion in exports by 2027, recognizing India as a key partner in achieving this goal. He pointed out that Italian companies possess expertise in cutting-edge fields such as design, advanced manufacturing, agricultural machinery, and renewable energy, which can contribute to India's economic growth.
Discussions during the visit also covered the India-Middle East-Europe Economic Corridor (IMEC), a strategic initiative aimed at enhancing connectivity between Asia, the Middle East, and Europe. Tajani expressed optimism about the project and reiterated the commitment of both India and Italy to its realization.
In addition to economic matters, Tajani's meetings with Prime Minister Modi and External Affairs Minister Jaishankar addressed broader strategic issues, including counter-terrorism efforts, maritime security, and the ongoing situation in Ukraine. Tajani invited PM Modi to visit Italy in 2026.
Overall, Antonio Tajani's visit to India served to reinforce the strong and growing partnership between Italy and India. With a focus on enhancing economic cooperation, promoting investments, and strengthening strategic ties, both countries are poised to unlock new opportunities and achieve shared prosperity.
