We look forward to invest more in India, boost exports: Italy's Deputy PM

New Delhi, April 11 (IANS) Italy's Deputy Prime Minister and Minister of Foreign Affairs, Antonio Tajani, on Friday said they want to invest more in India, along with exporting and attracting more Indian investments in Italy.

India is an important country for stability in the Indo-Pacific region, which is crucial to strengthen the trade, he emphasised.

Addressing the "Italy-India Business, Science and Technology Forum" here, he said that the country is an economy with enormous potential, and we want to strengthen this cooperation.

"Italy and India are natural economic partners. Together, we want to strengthen our cooperation for a partnership that looks at the future through higher education, innovation and research. Today, Italy and India are closer than ever. Our bilateral trade is over $14 billion, and we want to invest more in India, export more to India, and attract more Indian investments in Italy," he added.

According to Tajani, innovation, AI, super computers, space technology and defence are a few sectors which have potential for joint partnerships and both countries should work to attract investments in these areas.

Union Commerce Minister Piyush Goyal said there is further scope for expansion in the bilateral trade between India and Italy if we work seamlessly with each other, encourage investments, and promote businesses without roadblocks.

Goyal further stated that the Indian economy is slated to grow from $4 trillion to $30-35 trillion by 2047 and "our goal of Viksit Bharat makes India a compelled case to deepen the engagement between the European Union and India, particularly Italy and India".

"There are untapped newer areas like fashion, luxury goods, food processing, pharmaceuticals, tourism, green technology, advanced manufacturing, automobiles," the minister emphasised.

Amid all the global challenges that the world is experiencing, it is very reassuring to see the strength and depth of the Italy-India friendship, he said.

"This forum is a very timely platform and a good opportunity for all of us to collectively resolve to implement the Joint Strategic Action plan 2025-29 launched by Prime Minister Narendra Modi and Prime Minister Giorgia Meloni in November of 2024. It is a very forward-looking, ambitious and pragmatic roadmap with a strong focus on trade, investment, and innovation," said Goyal.

At the event, External Affairs Minister S. Jaishankar said that the direction of India’s progress and the capabilities of Italian industry make for a good combination. "Make In India today offers a platform or pathway for that collaboration to unfold," he added.

--IANS

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