MUMBAI: Relations between Italy and India have reached a new level and are now focusing on a “technological and industrial partnership”, with an emphasis on relaunching investments in the Italian steel industry. This development follows the visit of Business and Made in Italy Minister Adolfo Urso to Mumbai, which marked the fourth day of the Italian Amerigo Vespucci vessel in the city and the second day since the official opening of Villaggio Italia.
According to Ansa News Agency, Urso’s visit is significant as it is the first by an Italian minister to India since the signing of a strategic five-year plan in November, during the G20 summit in Rio. This plan aims to redesign relations between the two countries, moving past previous tensions related to the case of the Italian marines. The visit comes at a time when Indian investment flows in Italy have increased by 35.7%, and Italian investments in India have risen by 6.7%, reaching 6.4 billion euros, while exchanges have grown by 64.5%.
The strategic partn
ership between Italy and India is set to benefit from the digital highway connecting Genoa to Mumbai, expected to be completed by 2025. The installation of an underwater cable by Sparkle has already reached Mumbai. However, security remains a concern as the project progresses near Yemen.
Urso emphasized the importance of a technological and industrial partnership, noting that Italy could become a platform for Indian companies to access the European market, while India could serve as a base for Italian companies aiming to operate in South-East Asia. The two nations have the potential to collaborate in sectors like climate change monitoring, space exploration, seabed exploitation, and marine species conservation.
In the steel sector, Urso met with Jindal’s management to discuss a potential agreement with Ukrainian Metinvest to rejuvenate the Piombino plant through a green transition. He is also expected to meet with Vulcan Steel representatives, who are interested in acquiring the former Ilva steelworks in Ta
ranto.
The visit to Villaggio Italia has attracted a large number of Indian visitors, eager to experience the best of Made in Italy and view the Italian sailing vessel. Defence Undersecretary Matteo Perego di Cremnago expressed satisfaction with the turnout, reinforcing the significance of the world tour promoted by Defence Minister Guido Crosetto. The event in Mumbai was further highlighted by the presence of Minister for Ports, Shipping and Waterways Sarbananda Sonowal, who engaged in bilateral talks with Urso and explored the Italian exhibits.
