India and Italy have agreed to set up joint working groups on the automobiles and space sectors and work together in emerging areas of green hydrogen and biofuels.
At the 22nd session of the India-Italy Joint Commission for Economic Cooperation (JCEC) co-chaired by Commerce and Industry minister Piyush Goyal and Italy’s deputy prime minister Antonio Tajani here both sides agreed to prioritise cooperation in several emerging and strategic sectors of Industry 4.0, aerospace, energy transition, and sustainable mobility and several emerging and strategic sectors.
The two sides also stressed the importance of joint efforts in skill development, digital transformation, migration and mobility, as well as global connectivity initiatives such as the India-Middle East-Europe Economic Corridor (IMEC), a statement said.
India and Italy also agreed to strengthen cooperation in agriculture and food processing, and identified collaboration opportunities in sustainable agri-value chains, agri-machinery, food packaging technologies, and renewable energy.
They also expressed intent to facilitate movement of skilled professionals between the two countries.
Goyal was in Brescia, the industrial heartland of Italy, on a two-day visit that concluded on June 5.
On the sidelines of the JCEC, a high-level Growth Forum was organised, bringing together CEOs and industry leaders from both countries. “The platform proved valuable in identifying emerging business opportunities and industrial collaborations of mutual interest,” the statement added.
A strong Indian business delegation comprising top leadership from nearly 90 companies accompanied the Minister during the visit. The delegation visited Italian industries and held several meetings with local companies.
Goyal also held one-on-one interactions with Italian corporate leaders and welcomed their plans to expand operations, manufacturing, or office presence in India.