Commerce and Industry Minister Piyush Goyal said that high targets must be set in the India-Italy partnership as there is a lot of new potential especially in light of the recently elevated Strategic Partnership.
The Minister elaborated on how a plethora of opportunities in India make it one of the world's most trusted business and investment destinations during his address at the CEOs Business Interactive session in Rome, Italy. He said that India is an open country with global linkages with the trade negotiations underway with EU and EFTA.
The Minister said that India has witnessed 55 per cent growth in the overall exports in the last two years. He said that there are about 700 Italian companies operating in India and this is the most opportune time to be in India. The Minister also mentioned that India will provide a very robust and forward-looking policy framework with retrospective changes.
The Deputy Prime Minister and Minister of Foreign Affairs, Government of Italy, Antonio Tajani also participated in the interactive session and addressed the industry captains. Tajani expressed that there is a need to work together to create a better line of next generation in both the countries by backing MSMEs and industry.
Goyal appreciated Tajani for the deep engagement and said that there is a tremendous potential for growth in the India-Italy partnership and through this visit new ideas have emerged.He said that the countries are connected by tradition, culture, shared values, rule of law and aspiration to achieve more and to work as one. He also expressed that India-Italy will grow together, achieve together, and conquer together.
The CEOs Business Interactive session was organised by the Embassy of India in Rome, Italy in association with the Confederation of Indian Industry (CII) and the General Confederation of Italian Industry (Confindustria). The session had participation from more than 70 CEOs from Indian and Italian companies.
The Italian business was represented by giants like Sparkle, Elettronica, Piaggio, Lamborghini, ITA, etc. The CEOs mentioned that India is an important economic player and it is time to step up the cooperation at both the government and industry level. They also mentioned that Italian companies are exploring various investment opportunities present in India.
Vice President CII and Chairman and Managing Director, ITC Limited, Sanjiv Puri, emphasised that signing of India-EU FTA could be a catalyst for further enhancing India-Italy relationship.