India-Italy Business Collaboration: Paving the Pathway to Shared Growth

Commerce and Industry Minister Piyush Goyal has put forth a proposal to create industrial conclaves for Italian firms in India, aiming to boost investment and bilateral trade. Speaking at the India-Italy Business Forum, Goyal invited Italian companies to establish manufacturing units in these specialized zones.

Goyal's plan includes offering Italian businesses a 'home away from home' by integrating Italian-style amenities and services within these industrial parks, targeting locations like Dighi and Sambhaji Nagar in Maharashtra. This is a part of India's larger goal to establish 12 industrial nodes and 100 parks nationwide.

The forum also touched upon the India-Middle East-Europe Economic Corridor (IMEC), a strategic initiative aiming to enhance connectivity between Asia, the Middle East, and the West. With its endorsement at the G20 Summit, it promises economic benefits and modernization opportunities, as highlighted by Italian Deputy Prime Minister Antonio Tajani.

(With inputs from agencies.)