The Minister of Commerce and Industry, Consumer Affairs, Food and public Distribution and Textiles , Shri PiyushGoyal said India is looking forward to significant growth and major changes in its trade with Italy. Co-chair of the India-Italy Business Roundtable with Mr. Luigi Di Maio, Minister of Foreign Affairs & International Cooperation, in the Republic of Italy, here today, Shri Goyal said there are several opportunities in the fields ranging from tourism, services, retail, goods to him. digital world, education and design.
“Today’s engagement is the first of a series of events between India and Italy. 1.35 billion Indian land awaits, longing for a better future. India offers the largest business opportunity in the world as we grow from the $ 3 billion economy today to the $ 10 billion economy in ten years to the $ 30 billion economy in 20 odd years and to the $ 50 billion economy, I believe that we are all committed. so that, especially when we see that we are in the early stages of development, – the size of the market, the deepest aspirations of the Indian people and the talent and world of opportunities offered by India, I hope that businessmen on both sides will strengthen their relationship, ”Shri Goyal said in his opening remarks.
Speaking at the event, Mr. Luigi Di Maio said Italy and India are facing strong economic cooperation. The Italian government is committed to strengthening cooperation between the two countries at the industrial level and between the business community, he said.”Today’s meeting is an important step forward in shaping our strategic partnership,” he said. Luigi Di Maio, adding, “Many Italian companies, in their long-term plans, consider India to be an important country whose market will boost global growth. . ”
Mr. Luigi Di Maio said trade between India and Italy reached a record Euro 10 Billion in 2020-21.”More than 600 Italian companies, with a strong focus on Delhi and Mumbai, have hired about 50,000 local workers with a global profit of Euro 5 Billion,” he said.
Earlier, Shri Goyal had a very constructive conversation with Mr. Luigi Di Maio during their one-on-one meeting on a number of issues of mutual interest such as developing trade and investment opportunities, India-EU FTA negotiations, cooperation in the WTO framework. , Tech Summit on energy transformation, re-launch of direct commercial airlines and promotion of SME partnerships etc.
Given the existing relations between India and Italy and the general resolution of the problems, Shri Goyal suggested that the development and expansion of the rapid development between India and Italy be focused on developing economic cooperation and seizing trade and investment opportunities to establish alignment across all sectors. in it. .
Both departments also emphasized the need and capacity for close industrial co-operation and continued to expand relationships and establish trade and investment connections in all key areas such as trains, defense and aviation, automotive and electronics, food processing, leather, textiles and fashion, financing infrastructure, fintech. , green power, telecom, power exchange, and space and technology integration.
