India And Italy Strengthen Strategic Ties In Industry 4.0, Technology, And Automobiles
(MENAFN- KNN India) India and Italy have agreed to enhance their bilateral cooperation in key sectors, including Industry 4.0, smart manufacturing, technology, and the automobile industry.
This commitment was formalised during a meeting co-chaired by Union Commerce and Industry Minister Piyush Goyal and Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani.
The discussions focused on fostering collaboration in smart manufacturing, promoting startup ecosystems, expanding technology partnerships, and establishing Joint Working Groups in sectors such as space and automobiles.
An additional Memorandum of Understanding (MoU) on agriculture was also part of the cooperation plan.
Minister Goyal highlighted the strategic importance of the India-Middle East-Europe Economic Corridor (IMEC) and the potential of the India-European Union Free Trade Agreement (India-EU FTA).
He invited Italian companies to explore opportunities in India's growing economy and contribute to its manufacturing sector.
The bilateral trade between India and Italy reached an all-time high of €14.28 billion in 2022-23, with Indian exports to Italy surging by 60.5% year-on-year.
This growing economic partnership underscores the mutual commitment to strengthening ties and exploring new avenues for collaboration.
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