9 | | JUNE, 20259In a significant step to boost bi-lateral trade and economic co-operation, Union Commerce and Industry Minister Piyush Goyal, during his official two-day visit to Italy, announced that India and Italy have agreed to enhance collaboration across several emerging and critical sectors. These include Industry 4.0, smart manufacturing, technology, au-tomobile manufacturing, space, and agriculture.The announcement came after Goyal Co-chaired the Joint Commis-sion on Economic Cooperation (JCEC) alongside Italy's Deputy Prime Min-ister and Minister of Foreign Affairs and International Cooperation, An-tonio Tajani. The high-level meeting took place in Brescia, where both leaders reaffirmed their shared com-mitment to strengthening the strate-gic economic partnership between India and Italy.Taking to social media, Minister Goyal stated, "Co-chaired the Joint Commission on Economic Cooper-ation along with @Antonio_Tajani, Deputy Prime Minister and Minister of Foreign Affairs and Internation-al Cooperation, Italy. Discussed and agreed to work together for: Industry 4.0 for smart manufacturing, pro-moting a bridge between startups, expanding collaborations in technol-ogy, and establishing Joint Working Groups in the space and automobile sectors".A major highlight of the discus-sions was the focus on Industry 4.0 technologies to boost smart manufac-turing capabilities in both countries. India and Italy agreed to enhance mutual investments, promote innova-tion, and foster direct industrial part-nerships that leverage cutting-edge digital manufacturing and automa-tion systems.In addition, the formation of ded-icated Joint Working Groups (JWGs) was agreed upon to focus on key sec-tors such as space technology and automotive manufacturing. These groups will serve as structured plat-forms to facilitate targeted policy dialogue, identify business oppor-tunities, and foster innovation-led cooperation between industries and research institutions of both nations.The two countries also inked a Memorandum of Understanding (MoU) in the agriculture sector, aim-ing to strengthen sustainable practic-es and innovation in agri-tech. This reflects India's ongoing efforts to modernize its agriculture infrastruc-ture while ensuring food security and environmental sustainability.On the sidelines of the official meetings, both leaders participated in the Italy-India Business Forum, which brought together key stakehold-ers from government and industry. During the forum, Goyal underscored the importance of the Italy-India Joint Strategic Action Plan 2025-2029, out-lining a shared roadmap for deeper economic engagement.Minister Goyal highlighted that the bilateral relationship between India and Italy is being driven by a shared vision under the leadership of Prime Minister Narendra Modi and Italian Prime Minister Giorgia Melo-ni. He also emphasized the strategic relevance of new economic initiatives like the India-Middle East-Europe Economic Corridor (IMEC), which promises to reimagine global supply chains and connectivity.Goyal further noted that the long-anticipated India-European Union Free Trade Agreement (In-dia-EU FTA) has the potential to re-shape trade relations by enhancing market access and removing trade barriers for both parties.In his remarks, Goyal extended a strong invitation to Italian businesses and entrepreneurs to invest in India's growth story. He highlighted India's robust economic performance, im-proving ease of doing business, and ongoing policy reforms under the 'Make in India' initiative as key en-ablers for foreign companies looking to tap into India's vast domestic and export markets. INDIA-ITALY ECONOMIC SYNERGY SETS THE STAGE FOR GLOBAL GROWTHIN FOCUS
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