India Proposes Italian Business Enclaves to Boost Investments

Commerce and Industry Minister Piyush Goyal suggested creating unique industrial conclaves for Italian businesses during the India-Italy Business Forum meeting on Thursday. The idea is to offer dedicated spaces for Italian companies to set up manufacturing plants and offices, thus fostering a conducive environment for investments in India.

Goyal described the concept of 'Italian enclaves' as a 'home away from home' for Italian firms, potentially featuring Italian-centric amenities such as hotels and healthcare services. Prospective sites include strategic locations like Dighi near Mumbai and Sambhaji Nagar in Maharashtra.

The proposal aligns with India's broader strategy to develop 12 industrial nodes and 100 industrial parks. Alongside this initiative, discussions continue on the India-Middle East-Europe Economic Corridor, a project envisioned to enhance connectivity across Asia, the Middle East, and Europe, thereby opening new trade opportunities.

(With inputs from agencies.)