ITALY – INDIA: HIGH PROFILE ITALIAN BUSINESS MISSION AT NEW DELHI AND MUMBAI More than 800 btbs organized

The high profile Italian business mission to India starts on 26 april, promoted by the Italian Ministries of Economic Development and Foreign Affairs and International Cooperation and organized by Italian Trade Agency, Confindustria (Confederation of Italian Industry), ABI (Italian Bankers’ Association), Unioncamere (Union of Italian Chambers of Commerce) and Rete Imprese Italia (Network of Italian Enterprises) in collaboration  with FICCI (Federation of Indian Chambers of Commerce and Industry) and  CII  (Confederation  of  Indian  Industry).  This  year  the  delegation  is led  by Deputy Minister   of   Economic   Development,   Hon’ble   Ivan   Scalfarotto,   along   with   Michele Scannavini, President    of    Italian    Trade    Agency,    Licia    Mattioli, Vice President    of Confindustria for Internationalization and Guido Rosa, Vice President ABI (Italian Bankers’ Association) for Internationalization.

Over 60 companies, 6 Industrial Associations and Trade Associations, 4 universities and Research  Centers, 8 Banks,  CDP  (Cassa  Depositi  e  Prestiti)  group,  a  total  of  150 participants  and  more  than  800  business  to  business  meetings  (B2B) between  Italian companies and Indian counterparts.  These are the multi-sectorial  mission numbers that will address the New Delhi and Mumbai stages with specific focus on Infrastructure and Construction,  Machinery,  Automotive,  Renewable  Energy and ICT. This is an important opportunity to boost economic cooperation between the two countries and to deepen the business and investment opportunities for Italian companies.

“We are going to India with a particularly  robust  and qualified  delegation”  says  Italian Deputy Minister of Economic Development  Hon’ble Ivan Scalfarotto. “An indispensable feature  for  the  relationship  with  a  country  of  extraordinary  importance  both  from  an economic point of view and from a geographic and demographic  perspective. The sixth economy of the planet has also recently shown great dynamism, backed by public policies that open significant opportunities for Italian companies.  There exist opportunities linked both to the ongoing infrastructure and to the development processes in the country and the presence of a growing middle class with lifestyles and levels of consumption particularly suitable for the penetration of Italian excellence.”

“The strong growth recorded in the recent years – points out the President of Italian Trade Agency Michele Scannavini – and the estimates of an increase of GDP by 7.2% at the end of 2017 make India one of the most dynamic economies  in the world. Among the factors that supported this growth are the progressive integration of the Indian economy into a global one and the greater opening up towards international trade, events that result in opportunities for the Italian System. The infrastructure sector, which is experiencing a strong demand, along with industrial machinery,  automotive and renewable energy, are the most attractive sectors for our enterprises.

“We chose to return to India – explains Licia Mattioli, Vice President of Confindustria for Internationalization – since the consumption continues to grow, driven by the dynamism of “aspiringmiddleclass“, mainly comprising of young people whose average income is rising steadily. The demand for high quality products does increase with interesting opportunities for our enterprises. Thanks to the reforms of the internal market put in place by the Modi Government, India is a favorable investment environment due to the relaunch of industry and employment,  the increasing  liberalization  of the national economy,  the progressive opening up to international trade and, to the imposing infrastructure plan for the modernization of ports and airports”.

“The Italian banking delegation – says Guido Rosa, Vice President ABI (Italian Bankers’ Association) for Internationalization  – with the aim of strengthening the support offered to Italian companies, both from Italy and directly in India, will meet the Reserve Bank of India (RBI) and the leading local banks, led by their Banking Association (IBA) with the aim of focusing on the state of interbank relations”.

With a trade exchange of over 7.5 billion Euros in 2016, Italy is India’s fifth trading partner among the EU countries, with more than 500 companies present, with technological and production skills.

The market size, demand growth, industry and foreign investment revival represent the priorities  of  government  and  the  guidelines  of  the  Make  in India  campaign,  aimed  at promoting a broad set of measures to boost Indian production and its international competitiveness with the aim of increasing the manufacturing share of GDP from 15% to

25% by 2022. The new technologies and partnerships with foreign partners are needed in every sector, especially in the most knowledge and technology-intensive industrial sectors and the Italian  System  can play  a leading  role in the process  of industrialization  and growth of the country.

Over the past two decades  India has recorded  sustained  growth  rates with an annual average rate of 5.8% and some peaks (7.3% in 2014, 7.5% in 2015, 7.6% in 2016) which have led it to be the first country among the BRICS and one of the first among the world’s major  economies.  Among  the  origins  of  this  rapid  economic  growth  is  surely  the progressive  opening  up of the Indian economy to the world and to international  trade, coupled  with a series  of internal  market  reforms  that have profoundly  restructured  the national economy.

The  Programme  of  the  Business  Mission  will  include  sectors’  meetings  for  the  Italian business delegation and in particular it will be focused on the following: on 27th April, in New Delhi, the Italy – India Business Forum “Going forward on a common path” will take place, and it will be followed by a session of business meetings between Italian and Indian companies. The mission will then continue in Mumbai, where, in the morning of 28th April, the Italy – India Investment Forum will be held, followed by a further session of business meetings.