It is well known that India is already one of the most interesting and promising markets in the world. Moreover, the Asian country's economy has grown at an average annual rate of over 7% in the last three years and is increasingly aiming to achieve the status of a high-income economy by 2047. Italian companies, especially those from Piedmont, know something about this, whose exports to India in 2024 increased by 4%, reaching a value of €1,04 billion, 20% of Italy's total. Imports from India reached €1,27 billion, a 10% increase compared to 2023.
A privileged relationship destined to strengthen after the recent announcement on theacquisition of Iveco by the Tata group, which follows a few months after the Joint Strategic Action Plan 2025-2029 signed by the two governments, which aims to consolidate cooperation in all strategic sectors: infrastructure, space, manufacturing, green transition, new technologies, Industry 4.0, digital, critical materials, and defense. The visit to Turin by the Indian Ambassador to Italy and San Marino fits into this context. Vani Sarraju Rao, accompanied by the Indian Consul General in Milan, Shri Lavanya KumarThe visit was organized in collaboration with Confindustria Piemonte and Unione Industriali Torino, whose members already include over 40 companies with stable relationships with India. Its primary goal is to engage over 5.500 other local member companies in the opportunities and future developments of trade between India and Piedmont.
"India's rapid economic growth and commitment to inclusive and sustainable development – commented Ambassador Vani Rao during the meeting in Turin – offer numerous opportunities for Italian companies based in PiedmontIndia and Italy's complementary strengths in manufacturing, mobility, talent, design, and engineering can be leveraged to make our industries more globally competitive. He called on Confindustria to facilitate long-term strategic partnerships with Indian industry.
“India is one of the most promising trajectories for the Italian and Piedmontese industry – he echoed the president of Confindustria Piemonte, Andrea Amalberto In 2024, our region's exports to new markets grew by 0,3%, and India has proven to be one of the fastest-growing markets for our districts. There is clear room for further growth, especially in the supply chains where Piedmont excels: machinery and equipment, automation and robotics, components, advanced chemicals, quality agri-food, textiles, and life sciences. We are therefore working on several concrete commitments, first and foremost strengthening the infrastructure network and transport and logistics services to support trade. Then there are resources, incentives, streamlined bureaucracy, and clear timelines to encourage business establishment and expansion; mapping of suitable locations; investments in research, development, and innovation; and a communications and promotion plan.
India overall stood at fifth place among the destination markets of Italian exportsin the Asia-Pacific region, with a 9,8% share of the regional total. The product structure of Italian exports shows a high degree of sectoral diversification, with machinery and equipment predominating (40,2%), followed by chemicals (11,5%), computers and electronic and electrical equipment (10,3%), base metals (7,9%), and rubber and plastic products (4,8%). (Source: Ministry of Foreign Affairs and International Cooperation).
