Monday, June 23, 2025

Italy calls for tariff cuts; India pushes for closer links through India-Mideast-Europe corridor

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India has proposed the early convening of the next session of the India-Italy Joint Commission for Economic Cooperation (JCEC) and the enhancement of investment facilitation between the two countries. India’s Commerce and Industry Minister Piyush Goyal met Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, in New Delhi, where Invest India signed an MoU with the CDP Italian Development Bank and Simest to boost mutual investment and cooperation.

Stating that Italy’s goal of zero tariffs is already being discussed by the EU with the US, Tajani said that Italy was working with India to remove barriers for better cooperation and joint ventures between companies from both countries.
Calling for deeper ties with India via the India-Middle East-Europe corridor, he said that the impact of tariffs is yet to be known on the global economy, as he highlighted an invitation by the US administration to push for a direct agreement with the EU.Goyal said that India and Italy discussed ways to deepen their strategic partnership in trade, energy transition, innovation, and business cooperation, as he highlighted the scope to increase collaboration with Italy in sectors such as food processing, shipbuilding, textiles, fashion, and luxury products.

He said that dual degrees between India and Italy are much needed to bridge the talent gap in European economies.

ALSO READ: India, US aim to finalise trade pact framework in 90 days; JD Vance may visit soon for talks

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