New Delhi: Italy can be the ideal partner to support the ‘Make in India’ campaign, Italian Deputy Minister of Economic Development Ivan Scalfarotto said.
Italy is the second highest manufacturing economy of the European Union.
“We are actually committed and ready to contribute to it, sharing our expertise and know-how in key areas such as green technologies, renewables, SMEs, and infrastructure,” Scalfarotto said.
The Make in India initiative was launched by Prime Minister Narendra Modi in September 2014. It aimed at promoting India as an investment destination and a global hub for manufacturing, design, and innovation.
Being the second highest manufacturing economy of the EU after Germany and the fifth in the world “Italy is the ideal partner to support the Make in India campaign,” he said here at a function today.
He also said that huge potential exists to boost two-way trade and investments.
Scalfarotto added that both the sides need to do more to further strengthen economic ties.
Talking about collaboration in the automobile sector, he said Italian component manufacturers are ready to offer their knowledge and advanced technologies for hybrid, electric, fuel cell and hydrogen vehicles.
About infrastructure development, the minister said some large Italian companies are keen to contribute in this sector.
“I sincerely wish that joint projects and training activities in this very crucial field for further economic growth will soon become one of the pillars of the economic relationships between our two countries,” he added.
According to Indian commerce ministry, the two-way trade between the countries stood at USD 8.28 billion in 2015-16.
India has attracted USD 2.23 billion foreign direct investment from Italy during April 2000 and December 2016.