Union Minister of Commerce and Industry Piyush Goyal hosted Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, for a special dinner in New Delhi on Thursday evening.

This event underscored the burgeoning momentum in the India-Italy strategic partnership.

In a post on X, Goyal expressed delight at hosting Tajani, describing the occasion as a celebration of bilateral ties. The dinner gathered top industry leaders from both nations, fostering constructive discussions on fresh collaborations across various sectors.

Participants focused on building future-ready industries, with talks paving the way for deeper economic ties, heightened investments, and transformative business opportunities. Goyal emphasised that the evening reinforced the strong friendship between India and Italy.

Earlier that day, Goyal and Tajani signed a protocol to the India-Italy Joint Commission for Economic Cooperation (JCEC). This agreement charts a clear roadmap to bolster the economic partnership between the two countries.

The signing ceremony also witnessed the execution of several industry agreements spanning diverse sectors. At a subsequent joint press address, Goyal highlighted the protocol's role in expanding trade, boosting investments, and enhancing industrial collaborations.

He further noted that the JCEC protocol would be leveraged to unlock broader engagements with the European Union. This aligns with ongoing India-EU Free Trade Agreement (FTA) negotiations, positioning India-Italy ties as a pivotal bridge.

Prior to the New Delhi events, both leaders attended the India-Italy Business Forum in Mumbai on Thursday. Goyal observed that this partnership would play a crucial role in driving shared development goals amid the FTA talks.

The forum provided a platform for business leaders to explore synergies in key areas such as manufacturing, technology, and infrastructure. It signalled a commitment to mutual growth, with Italy viewing India as a vital partner in its European outreach.

Tajani's visit, as Italy's senior diplomat, reflects Rome's strategic interest in deepening ties with New Delhi. Italy has emerged as a key collaborator in India's defence, aerospace, and energy sectors, complementing broader EU-India dynamics.

For India, such engagements support its push for economic self-reliance under initiatives like Make in India. Enhanced cooperation with Italy could accelerate technology transfers and joint ventures in high-tech industries.

The dinner and protocol signing come at a time of renewed vigour in India-EU relations. With FTA negotiations progressing, bilateral deals like this JCEC protocol offer tangible steps towards integration.

Industry agreements signed during the visit span sectors including renewables, defence manufacturing, and digital infrastructure. These pacts are expected to generate jobs and innovation hubs in both nations.

Goyal's remarks on X reiterated the transformative potential of India-Italy collaboration. He stressed leveraging EU frameworks to unlock opportunities in trade volumes, which currently stand at around €10 billion annually but hold scope for doubling.

Tajani echoed these sentiments, praising India's economic resilience and growth trajectory. His participation signals Italy's intent to prioritise India in its foreign policy portfolio.

The events culminate a series of high-level exchanges, building on Prime Minister Narendra Modi's visits to Italy and reciprocal engagements. This momentum bodes well for long-term strategic alignment.

As India eyes diversified supply chains post-global disruptions, Italian expertise in automation and precision engineering offers complementary strengths. Joint ventures could enhance India's competitiveness in global markets.

The JCEC protocol establishes working groups for regular reviews, ensuring sustained progress. This institutional mechanism will monitor implementation and address bottlenecks promptly.

Business leaders at the dinner lauded the conducive environment for cross-border investments. Discussions highlighted opportunities in sustainable mobility, AI-driven manufacturing, and green energy transitions.

Tajani's visit marks a milestone in elevating India-Italy relations from cordial to strategic. It sets the stage for exponential growth in economic interdependence, benefiting citizens on both sides.

Based On ANI Report