Italy Targets Becoming India’s Third-Largest EU Trade Partner

Italy has announced the Cotton Route initiative to strengthen trade relations with India, paralleling the historic Silk Route. Italy’s Business Minister, Adolfo Urso, emphasized ambitions to become India’s third-largest EU trade partner. Trade between the two nations reached billion in 2023. Italy plans to enhance collaborations in defence, aerospace, pharmaceuticals, and marine industries through its Made in Italy 2030 plan. Defence spending will increase to billion by 2026, with India seen as a key partner in achieving space and defence goals. Italy also aims to serve as a European hub for Indian firms.