In an effort to bolster economic ties, India and Italy have joined hands to strengthen cooperation in sectors such as manufacturing, auto, aerospace, energy transition, migration and mobility.
The development emerged from 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, who discussed issues and co-chaired the 22nd sessions of the India-Italy Joint Commission for Economic Cooperation (JCEC), said an official statement on Friday.
“India and Italy agreed to prioritise cooperation in several emerging and strategic sectors. These include Industry 4.0, aerospace, energy transition, and sustainable mobility,” the commerce ministry said.
Goyal was accompanied by a strong Indian business delegation comprising top leadership from nearly 90 companies during the visit that visited Italian industries and held several meetings with local companies.
The two sides also stressed the importance of joint efforts in skill development, digital transformation, migration and mobility, as well as global connectivity initiatives such as the India-Middle East-Europe Economic Corridor (IMEC).
The ministry said that several concrete outcomes emerged from the JCEC, and that includes the two countries agreeing to explore collaboration opportunities in sustainable agri-value chains, agri-machinery, food packaging technologies, and renewable energy. There were also talks to set up Joint Working Groups in the automobile and space sectors. Brescia is Italy’s manufacturing hub.
India and Italy have also agreed to work together in areas such as green hydrogen and biofuels and expressed intent to facilitate the movement of skilled professionals between the two countries.
Goyal also held one-on-one interactions with Italian corporate leaders and welcomed their plans to expand operations, manufacturing, or establish a presence in India.
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