Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, has reaffirmed Rome's dedication to deepening economic and strategic relations with India. 

Speaking at the Italy-India Business Forum in Mumbai on 11 December 2025, he emphasised a shared ambition to elevate bilateral trade to 20 billion Euros annually by 2029.

This target, highlighted by Prime Ministers Narendra Modi and Giorgia Meloni, underscores the growing momentum in ties between the two nations.

Tajani described the goal as realistic and attainable, noting that his visit forms a key part of this drive. He stressed Italy's intent to import more Indian goods to foster a balanced partnership. Efforts are underway to address tariff challenges reasonably, with Italy leveraging its European Union membership to bolster both economies.

As an EU member, Italy pledges to champion India's growth alongside its own interests. Tajani also linked economic progress to global stability, calling for peace in the Mediterranean, Red Sea, and Indo-Pacific regions. He argued that such stability is vital for robust trade links.

A cornerstone of this vision is the India-Middle East-Europe Economic Corridor (IMEC), which Tajani hailed as crucial for trade, infrastructure, and peace. He proposed accelerating Italy-India collaboration to forge a broader global pact involving the Middle East, Gulf states, Egypt, and others. This initiative could streamline connectivity and economic flows across continents.

Marking a tangible step forward, India and Italy signed the protocol for the India-Italy Joint Commission for Economic Cooperation (JCEC). Commerce and Industry Minister Piyush Goyal and Tajani inked the agreement, outlining a clear roadmap for expanded partnership. Goyal highlighted accompanying industry deals across sectors, witnessed during the event.

In a post on X, Goyal underscored the value of intensifying India-Italy cooperation through heightened trade, investments, industrial synergies, and wider India-EU engagement. He portrayed these steps as gateways to fresh opportunities. The Mumbai forum represented Tajani's third major business outreach to India in eight months, signalling a "strong bond" between the countries.

Goyal reaffirmed India's resolve to advance negotiations on an India-EU Free Trade Agreement (FTA). He envisioned it as fair, equitable, and mutually beneficial—a win-win that could soon cross the finish line. This commitment positions the India-Italy relationship as a cornerstone of 21st-century diplomacy.

Tajani outlined Italy's expansive export strategy, targeting 700 billion euros by 2027, with India at its heart. Numerous Italian firms already operate in India, particularly in sports and automotive sectors, which hold untapped potential. Italy seeks greater investments in India, boosted exports, and Indian capital inflows to its markets.

Opportunities abound in defence, pharmaceuticals, space, automotive, and cultural industries, according to Tajani. Italy aims to ramp up investments, exports, and integration into India's innovation ecosystem. He praised the strategic partnership, vowing diplomatic support for mutual growth.

This forum and protocol signing reflect a maturing alliance, blending economic ambition with geopolitical strategy. By prioritising balanced trade, infrastructure corridors, and sectoral collaborations, Italy and India are laying foundations for sustained prosperity. The emphasis on peace and stability further aligns their visions amid global uncertainties.

Based On ANI Report