The foundation of Italy and India’s relations stand firm based on the shared principles, values of democracy, freedom, human rights and upholding the rule of the law. In addition, the two countries work closely to increase Research & Development in the field of science and technology.
The India Italy joint statement was signed during the visit of the Italian Prime Minister Giuseppe Conte to India on 30 October 2018. India-Italy Joint Commission on Economic Cooperation (JCEC) was tasked with constituting a CEO Forum and setting up a Fast Track Mechanism to promote two-way investments, and resolve issues, if any, confronted by the businesses in each other’s country. Invest India is the responsible agency for pursuing and monitoring of cases
Access India Initiative program was launched in the beginning of October 2019 by the Indian Embassy in Rome. It is a strategic program to promote economic relations between India and Italy. The program aims to give a significant acceleration to business and economic-commercial development between Italy and India. Invest India is the Knowledge Partner for the program.
Italian Prime Minister H.E. Paolo Gentiloni’s visit in 2017 saw the signing of six MoU’s. Some of the MoU’s signed were :
Double Taxation Avoidance Agreement was signed in 1985 between both the countries. The Bilateral Investment Promotion Agreement was signed in November 1995
Minister of External Affairs Smt. Sushma Swaraj visited Rome in 2018. The purpose of the visit was to strengthen the bilateral relations between the two countries
In March 2021, Italy joined the International Solar Alliance (ISA) upgrading its partnership with India.
The Italian Prime Minister H.E. Giuseppe Conte visited India in 2018 with the purpose of holding bilateral talks and attending the 2018 Tech Summit held jointly by the two countries
The two countries celebrated 70 years of established diplomatic relations in 2018
India and Italy have a regular exchange of visits at the highest level
An MoU was signed between Invest India and the Italian Trade Agency (ITA), on the occasion of the State Visit of Italy’s Prime Minister to India in October 2017
The bilateral trade between the countries was valued at $5.7 b between April - December 2020, the key products exported were Iron & Steel, Nuclear Reactors, Organic Chemicals, and Auto components. The key imported products were Nuclear Reactors and Electrical Machinery.
Italy is India’s 5th largest trading partner in the European Union and the 18th largest FDI contributor to India
India has received over $3 bn cumulative Foreign Direct Investment from Italy between April 2000 to March 2021
A “Permanent Digital Bilateral Platform of Economic Partnership” has been launched between India and Italy. The event is being coordinated jointly by Invest India, The Embassy of Italy, New Delhi and the Italian Trade Agency. The Digital Bilateral Platform was launched with the objective to further develop bilateral trade and promote ease of doing business and mutual investments.
The first sectoral digital mission was conducted for the food processing sector on 15 -16 July 2020 to showcase Italian technology for food packaging and processing for Indian food processors
The sectors that invited the maximum investments were Automobiles, Trading, Industrial Machinery and Food Processing
Minerva in Mumbai was established by the Indo-Italian Chamber of Commerce to provide international standard educational and vocational training courses for Indian students to enable them to secure placements in higher educational institutes in both Italy and India
A bilateral agreement for cultural cooperation between the two countries was first signed in 1976. This was then renewed in 2004
The Indian Community in Italy is the second-largest community of Indians in Europe
Languages spoken in Italy and India can commonly trace their origins to Sanskrit and Latin
Several universities in Italy offer programmes on Indian studies which includes languages and history. Italian students who want to study in India are supported through scholarships that come under the Cultural Exchange Programme
Have announced an investment of $7.76 Mn to expand its manufacturing facility in Ranipet, Tamil Nadu
Has signed their first 25 year contract for energy supply. They will be investing $180 Mn for the construction of this project in Rajasthan
They have opened 28 new branches to increase their nation-wide footprint under the Project Roar strategy
Announced investing $22.05 Mn to expand manufacturing facility for portal axles for compact tractors in Rajangaon, Maharashtra
Invested $11.16 Mn in manufacturing filtration solutions in Bahadurgarh, Haryana and created 300 jobs
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United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response
Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.
Great Place to Work Certification by GPTW Survey 2019
The UNCTAD Award 2018 for promoting investment in sustainable development
Great Place to Work Certification by GPTW Survey 2018
Investment Award 2016 from the Indian Ocean Rim Association (IORA)
United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion