Milan: Major Italian corporations have unveiled huge investment plans for India after a strategic meeting with Union Commerce Minister Piyush Goyal in Milan, indicating stronger economic relations between the two countries.
The meeting brought together top executives from important Italian industrial sectors such as commercial refrigeration, aerospace and defense, and technical gases, all of whom expressed a strong desire to extend their operations in India's fast developing economy.
Marco Nocivelli, CEO of the EPTA Group, a commercial refrigeration business, underlined the significant potential he sees in the Indian market.
It is quite intriguing to meet the minister and learn about the enormous possibilities in India, Nocivelli stated.
A big country with a significant growth rate, as well as the opportunity to showcase our sustainable technology, which will provide India with a more modern refrigeration system solution.
EPTA has already formed a subsidiary in Bengaluru and intends to announce its expansion strategy at a press conference in June. The firm is launching its Costan and IARP brands in India, providing complete refrigeration solutions for the retail, food and beverage, and hospitality industries.
Minister Goyal emphasized the strategic significance of this cooperation and added, "Pleasure to meet Marco Nocivelli, CEO of EPTA Group, a specialist in commercial refrigeration. " With India's retail and cold chain businesses expanding quickly, we explored how the firm may capitalize on the opportunity and help to promote sustainable refrigeration solutions in the country.
Michele Poggipolini, CEO of Poggipolini S. p. A. , an engineering and manufacturing technology firm that specialises in aerospace and defence, called his meeting with Minister Goyal extremely fruitful.
It was a very productive meeting. It was a tremendous delight for me, especially since we are now expanding into the Indian market, Poggipolini said.
The business intends to form strategic alliances in India to share expertise and technology in order to boost the local supply chain.
We have a fantastic opportunity to bring our expertise and technology to India to attempt to improve the domestic supply chain of the Indian market, Poggipolini said.
Following the discussion, Minister Goyal highlighted the possibility for collaboration, saying that the business had engaged in productive talks regarding technology, innovation, and manufacturing prospects in India, given the country's increasing role in global supply chains.
Daniele Forni, General Director of SOL Group, an Italian multinational leader in the manufacture and research of technical and medicinal gases, also spoke with the Commerce Minister.
The business is investigating chances to increase its footprint in India's important industries.
Minister Goyal emphasized the meeting's relevance, describing SOL Group as an Italian multinational leader in the manufacture, applied research, and marketing of technical and medical gases and noting discussions about how the group can expand its operations in India across important sectors.
These meetings highlight the deepening economic ties between Italy and India, with Italian firms acknowledging India's potential as both a production hub and a big consumer market.
The commitments cover important sectors such as cold chain infrastructure, aerospace and military manufacturing, and industrial gases, all of which India wants to strengthen its domestic capabilities and supply chains.
The investment pledges come as India positions itself as a significant player in global supply chains, providing attractive possibilities for international corporations looking to diversify their operations and tap into one of the world's fastest-growing major economies.
These agreements mark a big advance in Italy-India economic cooperation, with formal announcements and detailed investment plans anticipated in the coming months, potentially creating jobs and bringing sophisticated technology to Indian markets while giving Italian firms access to India's enormous consumer base and skilled workforce.
