Minister Goyal met Italy’s Deputy Prime Minister and several leading CEOs to encourage more Italian investments into India. Apart from business, the visit also spotlighted filmmaking opportunities, with India inviting Italian producers to explore its vibrant film landscape.
Veteran actor Kabir Bedi, who joined the India-Italy business delegation, highlighted the untapped potential of cultural partnerships. “Indians and Italians work brilliantly together. And if this relationship can be furthered at the business level, it will lead to a really fantastic jugalbandi,” he said.
Bedi emphasised the Indian government’s financial incentives for foreign productions, offering subsidies of up to $3 million per film based on local expenditure. “This financial assistance system is of the utmost importance to producers today,” he added.
Italy stands as India’s fourth-largest trading partner within the EU, with FY24 bilateral trade at approximately $14.56 billion, including Indian exports of $8.76 billion. Italian companies are also ramping up their presence in India.
The Bonfiglioli Group, which works in machine tools and robotics, is planning to expand its manufacturing footprint in India. “Our future plan is to invest more,” said Sonia Bonfiglioli, Chairperson of the group. “In India today, we have no foreign managers, no foreign workers. All our top managers are Indian… Our idea is to further develop the tech centres we have in Chennai, with dedicated solutions made in India.”
The visit also identified key sectors for deeper collaboration—pharmaceuticals, Industry 4.0, shipbuilding, gems and jewellery, and energy transition. With strong leadership ties between Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni, both countries are pushing for what Bedi described as a true “jugalbandi of business and culture.”
