Italian Ambassador Antonio Bartoli stated that the India-Italy partnership is poised for substantial growth, particularly upon the finalization of the European Union-India Free Trade Agreement (FTA). He emphasized Europe’s stability during geopolitical turmoil, positioning Italy as a crucial and reliable ally for India.
Strategic Economic Collaboration
The upcoming 16th EU-India Summit on January 27, attended by European leaders, underscores the strategic importance of the EU-India economic relationship, which saw $136.53 billion in goods trade in 2024-25. A joint roadmap for 2025-2029 targets raising India-Italy trade and investment to at least €20 billion.
Manufacturing and Technology Focus
Key cooperation areas include defense, space, connectivity initiatives like IMEC, technology, startups, and crucially, manufacturing. Bartoli noted Italy’s strength in machinery, suggesting this expertise is highly complementary to India’s industrial ambitions and its drive to build a more robust manufacturing base.
FTA Objectives
The proposed EU-India FTA is designed to facilitate market access for goods and services, rules of origin, investment, and intellectual property rights. India is seeking zero-duty access for sectors such as textiles, leather, and handicrafts, while the agreement will include safeguards for farmers and MSMEs.