Trade and Economic Relations
A. Bilateral Trade between Italian regions under CGI Milan’s jurisdiction and India
|
BILATERAL TRADE BETWEEN ITALIAN REGIONS UNDER CGI MILAN’S JURISDICTION – 2nd TRIMESTER 2022 |
||
|
ITALIAN REGIONS |
IMPORT |
EXPORT |
|
Piedmont |
248.054.013 |
142.699.649 |
|
Aosta Valley |
3.660 |
287.995 |
|
Lombardy |
1.049.565.122 |
407.317.503 |
|
Liguria |
45.869.335 |
19.003.171 |
|
Trentino Alto Adige |
24.064.185 |
25.163.299 |
|
Veneto |
255.569.435 |
156.770.476 |
|
Friuli-Venezia Giulia |
59.416.168 |
35.172.928 |
|
Emilia Romagna |
238.795.219 |
186.828.802 |
Values in Euros €
Source: ISTAT
BILATERAL TRADE BETWEEN ITALIAN REGIONS UNDER CGI MILAN’S JURISDICTION – 2ST TRIMESTER 2022
Values in Euros €
Source: ISTAT
B.
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India is Italy's 5th largest trading partner in the European Union and the 18th largest FDI contributor to India.
-
In the period January – June 2022 the Indo-Italian bilateral trade reached the value of Euro 7,201 million (+57.7% compared to January – June 2021).
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In the period January – June 2022, compared with the same period in 2021, Italy’s Exports to India increased by 26.2% (Euro 2,300 million) and Imports from India Increased by 78.7% (Euro 4,901 million).
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The thrust areas of India's exports to Italy are iron, cast iron, steel and ferro-alloys; organic basic chemicals, refined petroleum products; plants for the production of beverages; footwear; tanned leather, vehicles; fish, crustaceans and molluscs (processed and preserved); jewellery and related items; plastics in primary forms; dyes and pigments; parts and accessories for vehicles.
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Principal items of India's imports from Italy: general purpose machinery; machinery for textile, garment and leather industries (parts and accessories included); special purpose machinery; organic basic products; parts and accessories for vehicles; taps and valves; paper and cardboard; machine tools for metal shaping; ornamental and building stone, limestone, gypsum, chalk and slate; tubes, pipes, hollow profiles and related accessories in steel (excluding cast steel); pumps and compressors; chemical products nca.
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Future Prospects for investment and trade are encouraging, as India is increasingly being seen as an emerging economic power in the world and an important economic partner in Asia, both in terms of trade and investment, and as an alternative to their original interest in China, especially in the post Covid-19 scenario.
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India-Italy trade exchange for the past few years is given below:
|
YEAR |
2018 |
2019 |
2020 |
2021 |
Jan-June 2022 |
|
Total Trade with Italy |
9.493 |
9.146 |
7.263 |
10.488 |
7.201 |
|
% Percentage Change |
8.9 |
(-) 3.7 |
(-) 20.6 |
44.4 |
57.7 |
|
Italy’s export to India |
3.957 |
3.992 |
3.028 |
3.885 |
2.300 |
|
% Percentage Change |
10.8 |
0.9 |
(-) 24.2 |
28.3 |
26.2 |
|
Italy’s Import from India |
5.536 |
5.154 |
4.235 |
6.603 |
4.901 |
|
% Percentage Change |
7.6 |
-6.9 |
(-) 17.8 |
55.9 |
78.8 |
|
Balance of Trade |
-1.579 |
-1.162 |
-1.207 |
-2.718 |
-2.601 |
|
% Percentage |
(-) 16.5 |
(-) 26.4 |
(-) 3.8 |
(-) 125.2 |
(-) 189 |
Values in Euros € Millions
Source: ISTAT
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India’s top 50 exports to Italy
|
TOP 50 EXPORTED ITEMS FROM INDIA TO ITALY |
||||
|
S.No. |
HSCode |
Commodity |
2021-2022 |
2022-2023(Apr-Aug) |
|
1. |
72 |
IRON AND STEEL |
2,144.69 |
953.78 |
|
2. |
85 |
ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND REPRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS. |
436.08 |
343.62 |
|
3. |
84 |
NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF. |
602.07 |
263.38 |
|
4. |
29 |
ORGANIC CHEMICALS |
532.37 |
226.00 |
|
5. |
76 |
ALUMINIUM AND ARTICLES THEREOF. |
493.80 |
212.58 |
|
6. |
87 |
VEHICLES OTHER THAN RAILWAY OR TRAMWAY ROLLING STOCK, AND PARTS AND ACCESSORIES THEREOF. |
311.77 |
139.13 |
|
7. |
39 |
PLASTIC AND ARTICLES THEREOF. |
358.40 |
136.21 |
|
8. |
73 |
ARTICLES OF IRON OR STEEL |
273.74 |
119.52 |
|
9. |
61 |
ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, KNITTED OR CORCHETED. |
231.13 |
109.88 |
|
10. |
71 |
NATURAL OR CULTURED PEARLS,PRECIOUS OR SEMIPRECIOUS STONES,PRE.METALS,CLAD WITH PRE.METAL AND ARTCLS THEREOF;IMIT.JEWLRY;COIN. |
167.95 |
88.51 |
|
11. |
27 |
MINERAL FUELS, MINERAL OILS AND PRODUCTS OF THEIR DISTILLATION; BITUMINOUS SUBSTANCES; MINERAL WAXES. |
371.88 |
85.86 |
|
12. |
09 |
COFFEE, TEA, MATE AND SPICES. |
169.43 |
78.93 |
|
13. |
42 |
ARTICLES OF LEATHER,SADDLERY AND HARNESS;TRAVEL GOODS, HANDBAGS AND SIMILAR CONT.ARTICLES OF ANIMAL GUT(OTHR THN SILK-WRM)GUT. |
128.87 |
68.62 |
|
14. |
64 |
FOOTWEAR, GAITERS AND THE LIKE; PARTS OF SUCH ARTICLES. |
105.58 |
66.48 |
|
15. |
03 |
FISH AND CRUSTACEANS, MOLLUSCS AND OTHER AQUATIC INVERTABRATES. |
175.89 |
61.94 |
|
16. |
63 |
OTHER MADE UP TEXTILE ARTICLES; SETS; WORN CLOTHING AND WORN TEXTILE ARTICLES; RAGS |
142.01 |
61.39 |
|
17. |
32 |
TANNING OR DYEING EXTRACTS; TANNINS AND THEIR DERI. DYES, PIGMENTS AND OTHER COLOURING MATTER; PAINTS AND VER; PUTTY AND OTHER MASTICS; INKS. |
155.38 |
58.38 |
|
18. |
40 |
RUBBER AND ARTICLES THEREOF. |
129.84 |
56.94 |
|
19. |
62 |
ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED. |
130.61 |
54.19 |
|
20. |
52 |
COTTON. |
115.45 |
52.58 |
|
21. |
41 |
RAW HIDES AND SKINS (OTHER THAN FURSKINS) AND LEATHER |
72.51 |
37.06 |
|
22. |
90 |
OPTICAL, PHOTOGRAPHIC CINEMATOGRAPHIC MEASURING, CHECKING PRECISION, MEDICAL OR SURGICAL INST. AND APPARATUS PARTS AND ACCESSORIES THEREOF; |
78.34 |
36.16 |
|
23. |
28 |
INORGANIC CHEMICALS; ORGANIC OR INORGANIC COMPOUNDS OF PRECIOUS METALS, OF RARE-EARTH METALS, OR RADI. ELEM. OR OF ISOTOPES. |
42.39 |
31.40 |
|
24. |
25 |
SALT; SULPHUR; EARTHS AND STONE; PLASTERING MATERIALS, LIME AND CEMENT. |
30.05 |
29.17 |
|
25. |
38 |
MISCELLANEOUS CHEMICAL PRODUCTS. |
50.11 |
25.29 |
|
26. |
48 |
PAPER AND PAPERBOARD; ARTICLES OF PAPER PULP, OF PAPER OR OF PAPERBOARD. |
39.05 |
24.14 |
|
27. |
55 |
MAN-MADE STAPLE FIBRES. |
56.62 |
24.01 |
|
28. |
26 |
ORES, SLAG AND ASH. |
64.92 |
23.12 |
|
29. |
30 |
PHARMACEUTICAL PRODUCTS |
51.06 |
21.64 |
|
30. |
57 |
CARPETS AND OTHER TEXTILE FLOOR COVERINGS. |
42.84 |
18.19 |
|
31. |
58 |
SPECIAL WOVEN FABRICS; TUFTED TEXTILE FABRICS; LACE; TAPESTRIES; TRIMMINGS; EMBROIDERY. |
33.13 |
17.71 |
|
32. |
69 |
CERAMIC PRODUCTS. |
37.27 |
17.20 |
|
33. |
68 |
ARTICLES OF STONE, PLASTER, CEMENT, ASBESTOS, MICA OR SIMILAR MATERIALS. |
36.33 |
14.25 |
|
34. |
13 |
LAC; GUMS, RESINS AND OTHER VEGETABLE SAPS AND EXTRACTS. |
21.17 |
13.84 |
|
35. |
51 |
WOOL, FINE OR COARSE ANIMAL HAIR, HORSEHAIR YARN AND WOVEN FABRIC. |
21.25 |
11.62 |
|
36. |
12 |
OIL SEEDS AND OLEA. FRUITS; MISC. GRAINS, SEEDS AND FRUIT; INDUSTRIAL OR MEDICINAL PLANTS; STRAW AND FODDER. |
24.13 |
11.21 |
|
37. |
94 |
FURNITURE; BEDDING, MATTRESSES, MATTRESS SUPPORTS, CUSHIONS AND SIMILAR STUFFED FURNISHING; LAMPS AND LIGHTING FITTINGS NOT ELSEWHERE SPECIFIED OR INC |
25.33 |
10.13 |
|
38. |
54 |
MAN-MADE FILAMENTS. |
27.41 |
9.13 |
|
39. |
10 |
CEREALS. |
17.81 |
9.12 |
|
40. |
70 |
GLASS AND GLASSWARE. |
17.96 |
8.29 |
|
41. |
15 |
ANIMAL OR VEGETABLE FATS AND OILS AND THEIR CLEAVAGE PRODUCTS; PRE. EDIBLE FATS; ANIMAL OR VEGETABLE WAXEX. |
18.99 |
8.25 |
|
42. |
74 |
COPPER AND ARTICLES THEREOF. |
13.92 |
8.11 |
|
43. |
53 |
OTHER VEGETABLE TEXTILE FIBRES; PAPER YARN AND WOVEN FABRICS OF PAPER YARN. |
20.01 |
7.49 |
|
44. |
83 |
MISCELLANEOUS ARTICLES OF BASE METAL. |
19.63 |
6.70 |
|
45. |
82 |
TOOLS IMPLEMENTS, CUTLERY, SPOONS AND FORKS, OF BASE METAL; PARTS THEREOF OF BASE METAL. |
19.04 |
6.29 |
|
46. |
96 |
MISCELLANEOUS MANUFACTURED ARTICLES. |
9.19 |
5.45 |
|
47. |
17 |
SUGARS AND SUGAR CONFECTIONERY. |
8.01 |
5.30 |
|
48. |
21 |
MISCELLANEOUS EDIBLE PREPARATIONS. |
9.87 |
5.06 |
|
49. |
95 |
TOYS, GAMES AND SPORTS REQUISITES; PARTS AND ACCESSORIES THEREOF. |
7.98 |
5.00 |
|
50. |
56 |
WADDING, FELT AND NONWOVENS; SPACIAL YARNS; TWINE, CORDAGE, ROPES AND CABLES AND ARTICLES THEREOF. |
11.45 |
4.83 |
Sorted on year 2022-2023
Source: DOC-NIC
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Italy’s top 50 exports to India
|
TOP 50 IMPORTED ITEMS FROM ITALY TO INDIA |
||||
|
S.No. |
HSCode |
Commodity |
2021-2022 |
2022-2023(Apr-Aug) |
|
1. |
84 |
NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF. |
1,762.81 |
849.54 |
|
2. |
85 |
ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND REPRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS. |
274.01 |
136.83 |
|
3. |
29 |
ORGANIC CHEMICALS |
290.11 |
132.55 |
|
4. |
39 |
PLASTIC AND ARTICLES THEREOF. |
237.69 |
109.88 |
|
5. |
27 |
MINERAL FUELS, MINERAL OILS AND PRODUCTS OF THEIR DISTILLATION; BITUMINOUS SUBSTANCES; MINERAL WAXES. |
34.50 |
104.92 |
|
6. |
38 |
MISCELLANEOUS CHEMICAL PRODUCTS. |
179.75 |
87.61 |
|
7. |
90 |
OPTICAL, PHOTOGRAPHIC CINEMATOGRAPHIC MEASURING, CHECKING PRECISION, MEDICAL OR SURGICAL INST. AND APPARATUS PARTS AND ACCESSORIES THEREOF; |
186.79 |
83.39 |
|
8. |
87 |
VEHICLES OTHER THAN RAILWAY OR TRAMWAY ROLLING STOCK, AND PARTS AND ACCESSORIES THEREOF. |
162.73 |
76.07 |
|
9. |
73 |
ARTICLES OF IRON OR STEEL |
177.43 |
74.78 |
|
10. |
72 |
IRON AND STEEL |
130.87 |
54.16 |
|
11. |
71 |
NATURAL OR CULTURED PEARLS,PRECIOUS OR SEMIPRECIOUS STONES,PRE.METALS,CLAD WITH PRE.METAL AND ARTCLS THEREOF;IMIT.JEWLRY;COIN. |
126.87 |
51.19 |
|
12. |
32 |
TANNING OR DYEING EXTRACTS; TANNINS AND THEIR DERI. DYES, PIGMENTS AND OTHER COLOURING MATTER; PAINTS AND VER; PUTTY AND OTHER MASTICS; INKS. |
87.42 |
49.48 |
|
13. |
40 |
RUBBER AND ARTICLES THEREOF. |
85.60 |
40.71 |
|
14. |
47 |
PULP OF WOOD OR OF OTHER FIBROUS CELLULOSIC MATERIAL; WASTE AND SCRAP OF PAPER OR PAPERBOARD. |
43.85 |
33.74 |
|
15. |
94 |
FURNITURE; BEDDING, MATTRESSES, MATTRESS SUPPORTS, CUSHIONS AND SIMILAR STUFFED FURNISHING; LAMPS AND LIGHTING FITTINGS NOT ELSEWHERE SPECIFIED OR INC |
64.03 |
32.66 |
|
16. |
41 |
RAW HIDES AND SKINS (OTHER THAN FURSKINS) AND LEATHER |
62.00 |
32.51 |
|
17. |
08 |
EDIBLE FRUIT AND NUTS; PEEL OR CITRUS FRUIT OR MELONS. |
56.63 |
29.29 |
|
18. |
48 |
PAPER AND PAPERBOARD; ARTICLES OF PAPER PULP, OF PAPER OR OF PAPERBOARD. |
71.17 |
27.74 |
|
19. |
25 |
SALT; SULPHUR; EARTHS AND STONE; PLASTERING MATERIALS, LIME AND CEMENT. |
46.98 |
27.37 |
|
20. |
30 |
PHARMACEUTICAL PRODUCTS |
88.23 |
25.84 |
|
21. |
34 |
SOAP, ORGANIC SURFACE-ACTIVE AGENTS, WASHING PREPARATIONS, LUBRICATING PREPARATIONS, ARTIFICIAL WAXES, PREPARED WAXES, POLISHING OR SCOURING PREP. |
40.10 |
23.61 |
|
22. |
76 |
ALUMINIUM AND ARTICLES THEREOF. |
46.31 |
22.94 |
|
23. |
28 |
INORGANIC CHEMICALS; ORGANIC OR INORGANIC COMPOUNDS OF PRECIOUS METALS, OF RARE-EARTH METALS, OR RADI. ELEM. OR OF ISOTOPES. |
48.92 |
20.14 |
|
24. |
74 |
COPPER AND ARTICLES THEREOF. |
40.72 |
18.49 |
|
25. |
69 |
CERAMIC PRODUCTS. |
30.38 |
17.90 |
|
26. |
98 |
PROJECT GOODS; SOME SPECIAL USES. |
42.35 |
17.46 |
|
27. |
68 |
ARTICLES OF STONE, PLASTER, CEMENT, ASBESTOS, MICA OR SIMILAR MATERIALS. |
32.91 |
15.71 |
|
28. |
35 |
ALBUMINOIDAL SUBSTANCES; MODIFIED STARCHES; GLUES; ENZYMES. |
20.30 |
15.47 |
|
29. |
88 |
AIRCRAFT, SPACECRAFT, AND PARTS THEREOF. |
104.20 |
14.44 |
|
30. |
33 |
ESSENTIAL OILS AND RESINOIDS; PERFUMERY, COSMETIC OR TOILET PREPARATIONS. |
23.86 |
13.71 |
|
31. |
83 |
MISCELLANEOUS ARTICLES OF BASE METAL. |
21.28 |
12.07 |
|
32. |
82 |
TOOLS IMPLEMENTS, CUTLERY, SPOONS AND FORKS, OF BASE METAL; PARTS THEREOF OF BASE METAL. |
29.22 |
11.98 |
|
33. |
18 |
COCOA AND COCOA PREPARATIONS. |
12.58 |
11.08 |
|
34. |
26 |
ORES, SLAG AND ASH. |
20.61 |
9.51 |
|
35. |
79 |
ZINC AND ARTICLES THEREOF. |
13.11 |
8.79 |
|
36. |
86 |
RAILWAY OR TRAMWAY LOCOMOTIVES, ROLLING-STOCK AND PARTS THEREOF; RAILWAY OR TRAMWAY TRACK FIXTURES AND FITTINGS AND PARTS THEREOF; MECHANICAL |
18.62 |
7.58 |
|
37. |
70 |
GLASS AND GLASSWARE. |
19.13 |
7.10 |
|
38. |
59 |
IMPREGNATED, COATED, COVERED OR LAMINATED TEXTILE FABRICS; TEXTILE ARTICLES OF A KIND SUITABLE FOR INDUSTRIAL USE. |
12.48 |
6.16 |
|
39. |
62 |
ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED. |
11.65 |
6.10 |
|
40. |
52 |
COTTON. |
9.32 |
5.93 |
|
41. |
44 |
WOOD AND ARTICLES OF WOOD; WOOD CHARCOAL. |
11.45 |
5.92 |
|
42. |
61 |
ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, KNITTED OR CORCHETED. |
9.98 |
5.86 |
|
43. |
64 |
FOOTWEAR, GAITERS AND THE LIKE; PARTS OF SUCH ARTICLES. |
13.61 |
5.62 |
|
44. |
42 |
ARTICLES OF LEATHER,SADDLERY AND HARNESS;TRAVEL GOODS, HANDBAGS AND SIMILAR CONT.ARTICLES OF ANIMAL GUT(OTHR THN SILK-WRM)GUT. |
8.98 |
5.60 |
|
45. |
31 |
FERTILISERS. |
9.12 |
5.58 |
|
46. |
23 |
RESIDUES AND WASTE FROM THE FOOD INDUSTRIES; PREPARED ANIMAL FODER. |
11.31 |
5.53 |
|
47. |
75 |
NICKEL AND ARTICLES THEREOF. |
11.27 |
5.51 |
|
48. |
06 |
LIVE TREES AND OTHER PLANTS; BULBS; ROOTS AND THE LIKE; CUT FLOWERS AND ORNAMENTAL FOLIAGE. |
7.23 |
4.71 |
|
49. |
51 |
WOOL, FINE OR COARSE ANIMAL HAIR, HORSEHAIR YARN AND WOVEN FABRIC. |
8.84 |
4.55 |
|
50. |
22 |
BEVERAGES, SPIRITS AND VINEGAR. |
9.90 |
4.15 |
Values in US $ Million
Sorted on year 2022-2023
Source: DOC-NIC
C. Trends in Bilateral Investment (FDI) India - Italy
|
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
Stock at 2021 |
|
Italian FDI in India |
985 |
-1 |
250 |
191 |
-396 |
121 |
-223 |
5787 |
|
Indian FDI in Italy |
51 |
-27 |
10 |
44 |
83 |
-2 |
-13 |
399 |
Euros € Million
(Source: Ministero dello Sviluppo Economico (MISE))
BILATERAL INVESTMENT (FDI) INDIA – ITALY
