India will provide robust policy framework with retrospective changes: Piyush Goyal

Commerce and industry minister Piyush Goyal said that India will provide a robust and forward-looking policy framework with retrospective changes, and called for setting up high targets in the India-Italy partnership citing new potential in light of the recently elevated Strategic Partnership.

“The minister also mentioned that India will provide a very robust and forward-looking policy framework with retrospective changes,” the commerce and industry ministry said in a statement on Friday.

At the CEOs Business Interactive session organised by the Confederation of Indian Industry (CII), he also said that there are about 700 Italian companies operating in India and this is the most opportune time to be in India.


Goyal said that India has witnessed 55% growth in the overall exports in the last two years.

India-Italy bilateral trade was above $13 billion in 2021-22. During April-January 2022-23, India’s exports to Italy were $7.15 billion, while imports were $4.6 billion.

As per the statement, the Italian business was represented by giants like Sparkle, Elettronica, Piaggio, Lamborghini and ITA, among others.

“They also mentioned that Italian companies are exploring various investment opportunities present in India,” the ministry said.

Goyal, who is visiting Italy, also met Adolfo Urso, Minister for Enterprises and Made in Italy and discussed a range of issues of mutual interest.

“Both ministers acknowledged the complementarities and synergies between Make in India and Made in Italy initiatives and encouraged business communities of India and Italy to invest in each other's market and exchange on technology and innovation,” the ministry said.

Goyal pitched for enhancing Italian investments in dedicated freight corridors, ports, airports, and high-speed railway lines.

Both sides highlighted the need to promote investments in sustainable mobility.