Union Commerce and Industry Minister Piyush Goyal on Thursday said that India and Italy have agreed to boost cooperation in key areas such as Industry 4.0, smart manufacturing, technology and the automobile sector. The announcement came after Goyal co-chaired the Joint Commission on Economic Cooperation (JCEC) with Antonio Tajani, Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation.
In a social media post, Goyal shared details of the discussions held at the JCEC meeting. He said both countries have agreed to collaborate on Industry 4.0 for smart manufacturing, create stronger bridges between startups, expand technology partnerships and establish Joint Working Groups in sectors such as space and automobiles. An MoU on agriculture was also part of the cooperation plan.
Goyal said, “Co-chaired the Joint Commission on Economic Cooperation along with @Antonio_Tajani, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Italy. Discussed and agreed to work together for: Industry 4.0 for smart manufacturing, Promoting a bridge between startups, Expanding collaborations in technology, establishing joint working groups in the space, automobile sectors, among others.”
The two leaders also participated in the Italy-India Business Forum, where Goyal highlighted the importance of the Italy-India Joint Strategic Action Plan 2025-2029. He emphasised that both nations are working towards a shared vision under the leadership of Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni. Goyal also spoke about 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 become a part of India's economic growth story and explore the rising opportunities in the country. In addition to official meetings, Goyal held discussions with top business leaders from Italy. He met Mario Gnutti, Vice President of Gnutti Carlo Group, a well-known name in the global automobile industry. They discussed how the company can increase its presence in India and contribute to local manufacturing for both domestic and global markets.
Goyal also had a productive meeting with Sonia Bonfiglioli, Chairwoman and CEO of Bonfiglioli, an engineering company with deep roots in India. They talked about expanding efforts in manufacturing, R&D and innovation under the Make-in-India initiative.
The minister further met Mirco Maschio, Chairman of Maschio Gaspardo, a global player in sustainable agriculture. The discussions focused on the opportunities available in India as the country looks to modernise its agriculture sector. The Commerce Minister is on a two-day visit to Italy. Overall, the visit and meetings marked a positive step towards deeper India-Italy economic ties and growing business collaborations across sectors.