Italy Seeks To Strengthen Trade Ties With India: Agriculture Minister Lollobrigida
His remarks came against the backdrop of the two-day 'Vinitaly' trade promotion fair India Roadshow that began on Saturday.
Italian Agriculture Minister Francesco Lollobrigida has called for the consolidation of reciprocal trade relations with India, highlighting the very strong relationship between the two governments.
His remarks came against the backdrop of the two-day 'Vinitaly' trade promotion fair India Roadshow that began on Saturday.
Talking about 'Vinitaly', the Italian Agriculture Minister said it is a platform where "the best Italian wine companies and others represent themselves, meet, discuss" and it allows "deepening of the topics related to the development of this industry from every point of view".
In a video message, the Italian Minister of Agriculture pointed out the "very strong relationship between the two governments" and said, "It must be consolidated through mutual export."
He further said, "We want to renew not only the friendship but also consolidation of reciprocal trade relations."
In his address at the gala dinner ahead of 'Vinitaly', Italian Ambassador to India Antonio Bartoli spoke about the vibrant trade of black pepper and wine between the Roman empire and India along the Golden Road.
"So, we are not reinventing something...We are trying to revamp this. This link, there is steady growth in the market. I think it is on average 6% every year since 2017, we already account for 17% of the market, as in many other sectors. We have to do better. We can do better."
Describing it as 'a win-win situation', he said creating a culture of wine means that you also favour the growth of a sector that now is punching below its weight.
Prominent Italian winemakers are participating in the Roadshow, including group attendance by Piemonte Land of Wine (on behalf of 14 wine consortia in Piedmont), Italia del Vino Consorzio (23 companies from 16 regions), Angelini Wines & Estates (with winemaking estates in 4 regions) and Uvaitaly (11 producers from 5 regions).
B2B meetings are scheduled during the Roadshow with operators, importers, liquor stores and HoReCa managers profiled by the Indian Chamber of Commerce. The participants will be officially invited to attend the 57th Vinitaly in Verona, Italy between April 6-9.
The Roadshow is being organised by Veronafiere in collaboration with the Indian Chamber of Commerce with the support of the Italian Embassy in New Delhi.
The market for Italian wine in India has a retail value of $33 million (including taxes) for an import market share of almost 17%.
Italy is the third largest supplier by value in the Indian wine market worth $418 million dominated by domestic wines, which account for a 50% share. Italy ranks second in the imported wine product volumes, with approximately one million litres.
The Uiv-Vinitaly Observatory based on data suggests that Italian sparkling wine is enjoying strong growth, with sales likely to double by 2028 up to $20 million.
These figures are likely to be upgraded post the free trade agreement announced by Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, which is expected to be finalised and signed by the end of this year.
