Italy views India as a “long-trusted friend” and a strategic economic priority, Italian Deputy Prime Minister and Foreign Minister Antonio Tajani said on Wednesday, highlighting the potential for deeper industrial collaboration, joint ventures, and co-development projects.

Tajani, on a three-day visit to India, emphasized Italy’s commitment to supporting Italian companies entering the Indian market. The Italian foreign ministry has launched a dedicated financing line of €500 million to facilitate partnerships and investments. He said: “With my visit, I intend to bring more Italy to India and more India to Italy.”

India, Tajani noted, is a rapidly growing economic power with achievements across infrastructure, IT services, space, and new technologies. Italian companies are increasingly keen to tap into these opportunities, he added.

The two countries’ bilateral trade currently stands at around €14 billion annually, with both sides aiming to boost it under a robust trading framework. Tajani said Italy’s export credit agency has raised its exposure to India by approximately €200 million, supplementing over €2 billion in guarantees already provided.

Highlighting broader collaboration, Tajani said Italy aims not only to increase exports but also to deepen industrial cooperation, co-development, and co-production. He welcomed the upcoming India-EU free trade agreement, describing it as a chance to enhance opportunities for entrepreneurs and SMEs in both countries.

Italy, the deputy prime minister said, can significantly contribute to India’s industrial growth, particularly in machinery, manufacturing, and technological solutions. Italian firms are leaders in advanced design, engineering services, defence, renewable energy, and recycling.

“Today’s visit is another step in a long and promising journey of friendship and collaboration,” Tajani added, pointing to the 2025-2029 joint strategic action plan between the two governments.