India Italy Trade
Italy is India's 3rd largest trading partner in export in EU, after Germany and Netherland and 4th largest trading partner in import after Germany, Belgium and France.
Last updated: Apr, 2026
Introduction
India-Italy bilateral relations are advancing strongly in 2026, supported by shared democratic values and expanding economic cooperation. The two countries have operationalised their 2025-2029 Joint Strategic Action Plan to deepen ties in trade, defence, technology, and innovation. Italy continues to view India as a priority partner, with strategic discussions bolstered by the India-EU Free Trade Agreement expected to further enhance economic linkages between the partners.
India-Italy Trade
- Italy occupies the 19th position in foreign direct investment (FDI) equity inflows into India with a cumulative FDI amount of US$ 3.65 billion from April 2000 to September 2025.
- Italy ranks 11th in global exports and 27th in imports, highlighting its stronger position as an exporting economy than as an importing market.
- The bilateral trade between the two countries was valued at US$ 13.74 billion in FY25 and US$ 9.32 billion in FY26 (till November 2025)
- Italy is India's 3rd largest trading partner in export in EU, after Germany and Netherland and 4th largest trading partner in import after Germany, Belgium and France. The bilateral trade between India and Italy has been growing strongly in the last three years following the economic recovery post Covid-19 pandemic.
- The Indian community in Italy (estimated at 2.5 lakh including PIOs) is the third largest community of Indians in Europe after the UK and the Netherlands.
- India ranks 15th as the country of origin of Italian imports, accounting for 1.5% of Italian imports.
- Main items of Indian exports to Italy are ready-made garments, leather, iron ore, motor vehicles, textiles, chemicals, gems & jewellery. The main items of import from Italy are general and special purpose machinery, machine tools, metallurgical products, and engineering items.
Major exports from India to Italy
- India’s exports to Italy stood at US$ 4.89 billion in FY26 (till November 2025).
- India exported 4,639 commodities to Italy during FY26 (till November 2025).
- Major exported items from India to Italy include Iron and Steel (US$ 823.03 million), electrical machinery and equipment and parts (US$ 525.98 million), nuclear reactors, boilers, machinery and mechanical appliances (US$ 492.59 million), Organic Chemicals (US$ 290.95 million), vehicles other than railway or tramway rolling stock and parts and accessories (US$ 267.05 million), coffee, tea, mate and spices (US$ 223.02 million), articles of iron or steel (US$ 192.15 million), and aluminium and articles (US$ 170.51 million), etc in FY26 (till November 2025).
Major imports by India from Italy
- Imports from Italy to India stood at US$ 4.43 billion in FY26 (till November 2025).
- India imported 4,549 commodities from Italy in FY26 (till November 2025).
- India’s imports from Italy include Nuclear Reactors, boilers, machinery and mechanical appliances (US$ 1.68 billion), electrical machinery and equipment and parts (US$ 285.90 million), Organic Chemicals (US$ 238.09 million), natural or cultured pearls, precious or semiprecious stones, precious metals and articles (US$ 188.71 million), optical, photographic cinematographic measuring, checking precision, medical or surgical instruments and apparatus parts and accessories (US$ 177.86 million), articles of iron or steel (US$ 159.22 million), plastic and articles (US$ 151.12 million), pharmaceutical products (US$ 119.95 million), etc in FY26 (till November 2025).
Recent Trends & developments
- On December 11, 2025, the Italy-India Business Forum 2025 was held in Mumbai during the official visit of Italy’s Deputy Prime Minister Mr. Antonio Tajani, bringing together government leaders and over 150 Indian and Italian firms to boost trade, supply chain resilience, innovation, clean mobility, advanced manufacturing, and green energy, with outcomes aimed at deeper economic linkages and expanded collaboration in high-technology sectors.
- On December 10, 2025, Italy’s Deputy Prime Minister Mr. Antonio Tajani announced a dedicated €500 million financing line to support Italian companies entering the Indian market, focusing on joint ventures, industrial collaboration and market access, and reaffirmed India as a priority partner in Italy’s global economic strategy.
- On November 28, 2025, Italy’s Ambassador to India highlighted expanded cooperation under the India-Italy Joint Strategic Action Plan 2025-2029, noting increases in trade and investments, growing Italian FDI in India with additional investments announced in the first half of 2025, and deepening collaboration across space, defence, mobility and connectivity, reflecting a broader strategic partnership.
- On November 23, 2025, Prime Minister Mr. Narendra Modi met Prime Minister Ms. Giorgia Meloni of Italy on the sidelines of the G20 Summit 2025 in Johannesburg, South Africa, where both leaders discussed enhancing bilateral cooperation in trade, investment, technology, and broader strategic partnerships.
- On November 4, 2025, at the Italy-India Business, Science and Technology Forum, Italy’s Deputy Prime Minister Antonio Tajani emphasised Italy’s intent to expand investments and trade with India, particularly in innovation, AI, space technology, defence and advanced industries, and highlighted robust bilateral trade and joint venture potential across multiple sectors.
- In October-November 2025, Italy’s Deputy Minister Mr. Edoardo Rixi participated in India Maritime Week 2025, outlining plans for enhanced maritime cooperation through digitalisation, green port reforms and Italy’s role in strengthening the Indo-Italian maritime synergy and the broader India-Middle East-Europe Economic Corridor (IMEC).
- On June 6, 2025, during the 22nd session of the India-Italy Joint Commission for Economic Cooperation (JCEC) co-chaired by Commerce Minister Mr. Piyush Goyal and Italian Deputy Prime Minister Mr. Antonio Tajani, the two nations agreed to strengthen cooperation in manufacturing, aerospace, energy transition, sustainable mobility, agriculture and food processing, and to establish joint working groups in automobile and space sectors.
- On April 12, 2025, Italy’s Deputy Prime Minister and Foreign Minister Mr. Antonio Tajani called on India’s President Ms. Droupadi Murmu in New Delhi, where both sides affirmed that the India-Italy Strategic Partnership would reach new heights, and discussed Italian universities and research centres exploring potential collaborations with Indian partners.
- On April 11, 2025, India and Italy signed an MoU under the Indo-Italian Executive Programme of Cooperation (EPOC) 2025-2027 to advance joint initiatives in quantum technologies, artificial intelligence, biotechnology and other emerging technological sectors, including collaborative research mobility and funding projects.
- In June 2025, several Italian companies expressed plans to relocate production to India, especially in West Bengal, targeting machinery, automotive parts, steel, leather, textile, and agrotech sectors.
- India and Italy’s 2025-2029 Strategic Action Plan aims to boost ties in trade, technology, green energy, defence, space, and cultural exchange. Key initiatives focus on food process, cybersecurity, education, mobility, and joint efforts in combating terrorism and advancing renewable energy solutions.
- In July 2024, Union Minister of Commerce and Industry, Mr. Piyush Goyal, attended the G7 Trade Ministers' meeting in Reggio Calabria, Italy, focusing on global trade relations and economic cooperation. He held high-level bilateral meetings, notably with Italy's Deputy Prime Minister Mr. Antonio Tajani, where they agreed to enhance bilateral trade, investments, industrial co-production, and cooperation in clean technologies.
Trade and Investment
- In January 2026, Italian Ambassador Mr. Antonio Bartoli stated that the India-Italy partnership is expected to be further strengthened with the conclusion of the India-EU Free Trade Agreement, positioning Italy as a key and reliable partner for India amid evolving global economic conditions.
- On December 12, 2025, SIMEST (Italy) signed an MoU with the Indian Chamber of Commerce to promote bilateral investment and facilitate closer business collaboration between Indian and Italian enterprises.
- During the Italy-India Business Forum held in Mumbai on December 11, 2025, Italy has indicated a stronger commercial push to deepen trade and investment engagement with India, aligned with ongoing negotiations on the India-EU Free Trade Agreement. As part of this strategy, Italy aims to expand its global exports to approximately US$ 820 billion (€700 billion) by 2027, with India identified as a key market for enhancing bilateral trade, investment flows and industrial collaboration. The initiative underscores growing European interest in leveraging India’s large and rapidly expanding economy.
- According to Italy’s Economic Diplomacy data, over 800 Italian companies operate in India, employing approximately 60,000 people and generating a combined turnover of about US$ 11.35 billion. These companies are present through wholly owned subsidiaries, joint ventures and commercial offices, with operations largely concentrated across major industrial hubs such as Delhi-Gurgaon-Noida, Mumbai-Pune, Chennai and Bengaluru.
- In late 2025, Italian Deputy Prime Minister Mr. Antonio Tajani signalled a deeper trade push into India, with Italy looking to expand exports and cooperation under the prospective India-EU FTA, targeting enhanced trade, innovation, research, and education linkages by 2027.
- On April 11, 2025, Union Commerce & Industry Minister Shri Piyush Goyal met Italy’s Deputy Prime Minister Antonio Tajani to strengthen bilateral trade and investment ties under the Joint Strategic Action Plan 2025-29. Both sides highlighted cooperation opportunities across pharma, textiles, Industry 4.0, gems and jewellery, shipbuilding, energy transition, and agri-tech/food processing, while noting that India-Italy bilateral trade stood at around US$ 15 billion in FY24 and cumulative Italian FDI in India has crossed US$ 4 billion since 2000.
Conclusion
India-Italy relations are on a trajectory of rapid expansion, underpinned by enhanced political dialogue, robust economic engagement, and mutual strategic interests. The launch and implementation of the Joint Strategic Action Plan 2025-2029 reflects a long-term commitment to collaborative growth across sectors including technology, defence, and innovation. Italy’s alignment with India within the broader EU-India Free Trade Agreement framework further strengthens economic and geopolitical cooperation, positioning the partnership for sustained growth and diversified cooperation.
Contacts
- Embassy of India in Italy
Address: Via Sicilia 136, 00187 Rome;
Telephone: +39 064884642-3-4-5
Ms. Vani Rao (Ambassador);
Email: amb.rome@mea.gov.in
Mr. Gaurav Gandhi (Deputy Chief of Mission);
Email: dcm.rome@mea.gov.in - Embassy of Italy in India
Address: 50 E Chandragupta Marg, Chanakyapuri, New Delhi - 110 021;
Telephone: +91-11-26114355
Email: ambasciata.newdelhi@esteri.it
Mr. Antonio Bartoli (Ambassador);
Email: segramb.newdelhi@esteri.it
Ms. Aurora Russi (Deputy Head of Mission);
Email: ambasciata.newdelhi@esteri.it
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