Commerce and Industry Minister Piyush Goyal is set to embark on a week-long visit to Italy and France next week. The purpose of the visit is to boost trade ties between India and these two European countries.
During his visit, Goyal will hold meetings with his Italian and French counterparts to discuss ways to enhance trade and investment between the countries. The focus will be on increasing the flow of goods and services, promoting joint ventures, and exploring new areas of cooperation.
Italy is one of India’s important trade partners in Europe, with bilateral trade between the two countries reaching USD 9.52 billion in 2020-21. France is also an important partner, with bilateral trade between India and France reaching USD 13.87 billion in the same period.
Goyal’s visit to Italy will include meetings with Italian business leaders and investors to explore opportunities in sectors such as pharmaceuticals, renewable energy, and food processing. In France, he will meet with representatives from the automobile and aviation industries, among others.
The visit is expected to result in the signing of several agreements and MoUs between Indian and Italian/French companies, aimed at boosting trade and investment flows between the countries. Goyal will also address business forums and interact with Indian diaspora in both countries.
This visit is part of India’s ongoing efforts to diversify its trade and investment partnerships beyond traditional markets such as the United States and China. Europe, with its large consumer market and advanced technology, is seen as an attractive destination for Indian businesses looking to expand globally.
