Address by Mr. Lavanya Kumar, Consul General of India at the launch of a comprehensive guide to ‘Doing Business in Italy’ for Indian investors

on 14 May 2025

Good evening to you all.

At the outset, let me congratulate the Indian Chamber of Commerce in Italy (ICCI) on bringing out the first comprehensive guide to doing business in Italy, dedicated to Indian investors. This is a timely initiative that strengthens ongoing efforts to deepen India-Italy trade relations.

Ladies and Gentlemen,

Before sharing a few details on India-Italy trade and investment, let me first present some key insights into the Indian economy. This will set the context for today’s discussions.

I am happy to share that the IMF in its recently published ‘World’s Economic Outlook’ projected that India's economy will grow by 6.2% in 2025 and 6.3% in 2026 maintaining a strong lead over global and regional peers. India is the only major economy that has consistently witnessed a strong economic growth rate of 6 to 7% over the past decade. This consistency signals not only the strength of India’s macroeconomic fundamentals but also its capacity to sustain momentum in a complex international environment. With reforms in infrastructure, innovation, and financial inclusion, India continues to enhance its role as a key driver of global economic activity. The IMF’s projections reaffirm India’s resilience, further solidifying its importance in shaping the global economic future. India's per capita income has also increased significantly, reflecting the broader economic growth. Driven by strong domestic performance and strategic market expansion, various Indian companies are increasingly seeking Joint Ventures with EU companies.

More than 600 Italian companies are present in India in various sectors including fashion and garments, textile and textile machinery, automotive and automotive components, infrastructure, chemicals, energy, confectionery, and insurance. A few notable Indian companies in Italy include TCS, Mahindra, BKT, Ranbaxy, Titagarh Industries, Zydus Cadila, Aurobindo Pharma and Dr Reddy’s Laboratories. Given the potential of our bilateral trade and investment, there is significant scope to expand our presence in each other’s countries.

Aware of the unparalleled potential of the India-Italy Strategic partnership, Prime Minister of India Mr Narendra Modi and Prime Minister of Italy Ms. Giorgia Meloni during their meeting at the G20 Summit in Rio de Janeiro, Brazil in November 2024 have decided to give it further impetus through a five year Joint Action Plan for the years 2025-29. Among the 10 items identified by both leaders, promoting industrial partnerships, technological centres and mutual investment is one of the key elements. Further, during the visit of EU President to India in February, 2025, it has been decided to conclude the India-EU FTA by the end of this year. In addition, you are aware of the keen interest of India and Italy in implementation of IMEC corridor. Given these exciting times in our trade relations, various mid-sized Indian companies have been increasingly showing interest in forming industrial partnerships with Italian companies. We believe that these Industrial partnerships will play a key role in strengthening the bilateral relations.

Ladies and Gentlemen,

While the big companies have sufficient resources to engage various consultancy and law firms to enter the Italian market, Small and Medium sized Enterprises (SMEs) need handholding support to navigate various regulatory frameworks and local laws. In addition, there is a significant presence of Indian diaspora in the Northern Italy. The second-generation diaspora is eager to make its presence felt by starting their own businesses. I am confident that this booklet will serve as a valuable resource for Indian companies eager to enter the Italian market, as well as for the Indian diaspora in Italy. On the other hand, the Indian Consulate is ready to assist Italian firms looking to invest in India. We can provide sector-specific information and facilitate connections with investment agencies at both the Federal and State levels.

Thank you.

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