Italy Bats For JVs With India To Counter China Presence In Africa, South America
Piyush Goyal, in turn, proposed the creation of a dedicated ‘Italian enclave’ in India, which would serve as a hub for Italian businesses, hotels, restaurants, healthcare and educational institutions.
Italian Deputy Prime Minister and Foreign Minister Antonio Tajani on Thursday said that India and Italy must work together to forge global joint ventures and increase their footprint in regions like Africa and South America, territories that have seen greater infrastructural investments from China.
Speaking at the Plenary Session of the India-Italy Business Forum in Rome alongside Commerce Minister Piyush Goyal, Tajani said, “Why should only China be present in Africa and South America? We believe India too can play a role. India is a protagonist in the Indo-Pacific area. There is Africa, Mediterranean Sea, Suez Canal -- several points can fuel joint ventures between India and Italy," he said.
He also expressed Italy’s willingness to welcome Indian investors, underlining India’s capacity to lead large-scale industrial initiatives. “We need to cut down red tape and pull down tariff barriers to make this partnership more effective,” he added.
Piyush Goyal, in turn, proposed the creation of a dedicated ‘Italian enclave’ in India, which would serve as a hub for Italian businesses, hotels, restaurants, healthcare and educational institutions. “It will have all necessary social infrastructure—a home away from home for Italians,” Goyal said. He also expressed hope that tourism from Italy to India would rise significantly in the coming years.
Highlighting India’s commitment to the 2029 Joint India-Italy Action Plan, Goyal said the two countries are working closely in areas like solar power, biofuels, clean energy, and disaster-resilient infrastructure. “We are also collaborating on the India-Middle East-Europe Economic Corridor (IMEC). I look forward to welcoming Italian participation in its first meeting in India,” he noted, adding that India will follow up with Italy on a fast-track basis.
The minister also flagged that bilateral trade between the two nations is “sub-optimal” and doesn’t even meet a minuscule portion of its true potential. “We have miles to go—whether in tourism, trade or infrastructure,” Goyal said.
Tajani shared Italy’s ambition to grow its exports to $700 billion and reiterated the country's commitment to working with both India and the wider European bloc to build strategic commercial bridges.
Goyal added that as India grows from a $4 trillion economy to $35 trillion, it offers the greatest business potential the world has ever witnessed.
"India is the biggest business opportunity that mankind has ever seen,” Goyal declared, urging the need for stronger bridges between Indian startups and Italian expertise in Industry 4.0, especially in the realm of smart manufacturing. “We must expand co-production and co-design efforts,” he said.
Goyal announced plans to revitalise the Joint Working Group (JWG) on agriculture and food processing, and confirmed that a new JWG on renewable energy will soon be launched. He also invited cooperation through JWGs in high-potential sectors like space and automobiles.
So far, over 350 engagements have taken place between Indian and Italian businesses as part of India-Italy Business Forum. Goyal is on a two-nation Europe tour from June 1-5. He was earlier in France, where he also met European Commissioner for Trade Maros Šefčovič to speed up negotiations for the EU-India FTA.
