Image Source: Newsonair
India and Italy have agreed to significantly strengthen their cooperation across advanced manufacturing, technology, and strategic sectors, marking a new phase in their economic and industrial relationship. The announcement came after a high-level summit in Brescia, Italy, attended by India’s Commerce and Industry Minister Piyush Goyal and Italian Deputy Prime Minister Antonio Tajani, alongside over 100 business leaders from both countries.
Focus on Industry 4.0 and Advanced Manufacturing:
Both countries will collaborate on Industry 4.0 initiatives, including smart manufacturing, agritech, and digitalization. Working groups will be set up to drive joint projects in these areas, with a special focus on integrating robotics, AI, and IoT into industrial processes.
Automobiles and Transport:
The partnership will extend to the automotive sector, including railways and automotive components. Italian firms like Stellantis and Brembo, already present in India, are expected to deepen their engagement, while Indian companies will explore opportunities in Italy’s automotive supply chain.
Technology, Innovation, and Startups:
India and Italy will broaden technology partnerships, particularly in artificial intelligence, supercomputing, and space technology. The two sides will connect startups, foster R&D, and promote joint ventures in high-tech sectors.
Energy Transition and Circular Economy:
The summit emphasized cooperation on renewable energy, waste-to-energy, and smart city solutions. Visits to flagship Italian sites, such as A2A’s waste-to-energy plant, highlighted shared ambitions for a green transition.
Strategic Infrastructure and IMEC:
Both nations reaffirmed their commitment to the India-Middle East-Europe Corridor (IMEC), positioning it as a key route for trade and digital connectivity. Trieste is set to become a major European gateway for Indian goods.
Bilateral Trade and Investment:
Bilateral trade exceeded €14 billion in 2024, with Italian exports to India growing over 30% in seven years. Italy is keen to attract more Indian investment, while India eyes greater access to Italian and European markets.
Education, Research, and People-to-People Ties:
New MoUs were signed to boost collaboration in scientific research and higher education, with universities and research centers from both countries participating in innovation forums.
EU-India Free Trade Agreement:
Italy is pushing for a swift conclusion to the EU-India free trade deal, seeing it as vital for industrial competitiveness and open markets.
This renewed partnership is anchored in the Joint Strategic Action Plan 2025–2029, aiming to drive mutual growth in technology, industry, and sustainable development.
Source: Decode39, Economic Times, BusinessWorld, The Hindu Business Line, Induqin, Deccan Herald
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