This article sets out the trade and investment figures for India and Italy, the companies active in each country and the mechanisms the two governments use to promote business. All figures are as given in the Ministry of External Affairs (MEA) bilateral brief of May 2026 and describe the position at that time.

Trade in goods

According to the MEA brief of May 2026, Italy is India's 4th largest trading partner in the EU. In 2025, bilateral trade reached €14.25 billion, with India's exports at €8.55 billion and a balance in favour of India of €2.85 billion. Italy's exports to India stood at €5.70 billion in 2025, an increase of 9.42% over 2024.

India and Italy have set a target to increase their annual bilateral trade to €20 billion by 2029. The brief states that India is Italy's 14th largest import source and that Italy has identified India as one of its priority countries under its global trade strategy.

The brief also gives bilateral trade in goods in US$ billion:

  • 2021-22: India's exports 8.18, imports 5.05, total trade 13.23, trade balance 3.13
  • 2022-23: India's exports 8.69, imports 5.56, total trade 14.25, trade balance 3.13
  • 2023-24: India's exports 8.77, imports 5.80, total trade 14.57, trade balance 2.97
  • 2024-25: India's exports 7.73, imports 6.01, total trade 13.74, trade balance 1.72

Total trade from April 2025 to January 2026 was US$ 12.01 billion.

Trade in services

Trade in services stood at €1.33 billion in 2025, according to data from the Central bank of Italy cited in the brief. Italy's imports of services from India were €653.88 million (+19.94% over 2024), while Italy exported services worth €676.03 million to India (-6.18% over 2024).

The main services exported from India were travel, transport, charges for the use of intellectual property, telecommunications, and computer and information services.

Remittances

In 2025, remittances from Italy to India reached €594.02 million (+32.8% over 2024). The brief states that India ranks second in outward remittances from Italy.

Italian investment in India

Italy ranks 19th in FDI inflows into India for the period April 2000 to September 2025, with inflows of US$ 3.66 bn according to DPIIT. The top sectors attracting Italian FDI are:

  • automobiles (29.8%)
  • trading (17.1%)
  • industrial machinery (5.6%)
  • services (5.1%)
  • electrical equipment (4.6%)

Italian investments in India exceeded €500 million in the first six months of 2025. Around 800 Italian companies are present in India, in sectors such as fashion and garments, textiles and textile machinery, automotive and automotive components, infrastructure, chemicals, energy, confectionery and insurance.

Indian investment in Italy

Total Indian direct investment in Italy is approximately €490 million (Source: DPIIT), predominantly in the IT, electronics and engineering sectors. The brief describes the €3.8 billion acquisition of Iveco Group by Tata Motors as the most significant Indian investment in Italy so far.

Indian companies in Italy named in the brief include TCS, BKT, Greenlam, Strelite Technologies, Mahindra, Ranbaxy, Zydus Cadila, Himatsingka Seide, Varroc Group, Endurance Technologies, Gammon, Aditya Birla and Sun Pharma.

Joint Commission and business forums

The 22nd India-Italy Joint Commission for Economic Cooperation (JCEC) was held in Brescia, Italy, on 4-5 June 2025. It was co-chaired by Commerce and Industry Minister Shri Piyush Goyal, who was accompanied by 80 Indian companies, and Deputy Prime Minister Antonio Tajani. The second Business Forum was held on the sidelines on 5 June, with around 800 Italian companies, business chambers and associations taking part.

Earlier, on April 11-12, 2025, Mr. Tajani visited India with the Minister of University and Research, Ms. Anna Maria Bernini, 100 Italian companies, the Rectors of six universities and the heads of six research institutions. He called on the President, met the External Affairs Minister and co-chaired the inaugural India-Italy Business, Science and Technology Forum with the External Affairs Minister and the Commerce and Industry Minister.

On 11 December 2025, Mr. Tajani and Shri Piyush Goyal co-chaired the 3rd Business Forum in Mumbai.

Finance Minister Smt. Nirmala Sitharaman visited Milan for the annual ADB meeting on 04-06 May 2025. She met her Italian counterpart and addressed Italian CEOs and the Indian community.

Italian support for companies entering India

The brief lists two incentives offered by the Italian Government to Italian companies:

  • the opening of a SIMEST office in Delhi, with a dedicated €500 million funding line (SIMEST is an Italian agency supporting Italian SMEs to internationalise)
  • additional support of €200 million from SACE, the Italian export credit agency, to facilitate contracts between Indian buyers and Italian SMEs

Working groups

The 2nd meeting of the Italy-India Joint Working Group on Food Processing was held in Rome on 16 February 2024. The 2nd JWG on Renewable Energy and Agriculture met in 2023, and the 3rd JWG on Renewable Energy was held virtually on 29 April 2026.

Minister of Enterprises and Made in Italy Mr. Adolfo Urso visited India from 29 November to 2 December 2024 to mark the arrival of the Italian Navy ship ITS Amerigo Vespucci at Mumbai Port. He met the Minister of Ports, Shipping & Waterways, the MoS for Space, the Minister of Coal and Mines and the Commerce Minister. He returned to New Delhi in February 2026 for the India AI Impact Summit 2026.

Italy's Deputy Minister of Infrastructure and Transport, Mr. Edoardo Rixi, took part in India Maritime Week 2025 in Mumbai from October 27-31, 2025. He met the Minister of Ports, Shipping and Waterways and the Ministers of State for Railways, Road Transport and Highways, and Housing & Urban Affairs. Rajasthan's Minister of Industry and Commerce, Shri Rajyavardhan Singh Rathore, participated in the Marmomac global trade fair in Verona from 22-25 September 2025.

As part of the IMEEC digital corridor, Sparkle (TIM Group) has a strategic partnership with Airtel and has activated the Blue-Raman submarine cable between India and Genoa, Italy.