Mumbai, December 11 (ANI): India and Italy have signed the protocol of the India-Italy Joint Commission for Economic Cooperation (JCEC), establishing a roadmap to deepen bilateral economic ties. The protocol was signed in Mumbai on Thursday by India’s Commerce Minister Piyush Goyal and Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani.
Announcing the development on social media platform X, Minister Goyal said the two sides also witnessed the signing of several industry agreements across multiple sectors. He emphasized the importance of expanding trade, attracting investments, strengthening industrial partnerships, and leveraging India’s broader engagement with the European Union to unlock new opportunities.
The signing took place alongside the India-Italy Business Forum, held during Tajani’s visit to Mumbai. Addressing the forum, Goyal noted that this is the third major business engagement between the two countries in the past eight months, demonstrating the growing strength of the bilateral partnership.
Goyal highlighted ongoing efforts to advance the EU-India Free Trade Agreement (FTA), expressing confidence that both sides can bring the agreement “over the finishing line.” He said the proposed FTA would be fair, equitable, and mutually beneficial, supporting stronger economic growth for both the EU and India.
He also stressed that India and Italy are taking proactive steps to implement the Italy-India Joint Strategic Action Plan, focusing on key sectors such as trade, investment, research, innovation, and people-to-people exchanges. Among the areas identified for greater collaboration are auto components, textiles, leather goods, R&D, technology, innovation, defence, space, sports goods, and processed foods.
Goyal further noted India’s growing focus on the sports sector as the country prepares to host the 2030 Commonwealth Games and pursues a bid for the 2036 Olympic Games.
Speaking at the forum, Deputy Prime Minister Tajani underlined the importance of cooperation in innovation, research, and education, calling them essential pillars of global competitiveness. He said Italy aims to boost its exports to 700 billion euros by 2027 and sees India as a key partner in this drive.
Tajani highlighted strong investment potential in India across sectors including sports, automotive, defence, pharmaceuticals, and space. He said Italy is eager to increase exports to India, welcome more Indian investments, and become an active participant in India’s innovation strategy.
Expressing pride in the growing strategic partnership, Tajani reaffirmed Italy’s commitment to supporting economic diplomacy and expanding bilateral cooperation in high-growth sectors. (ANI)
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