Trade and Economic Relations
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Dr. Madan Mohan Sethi, Commercial Representative

Tel: 0039-0642014152: mob.: 0039-3311928710

Email: com.wing@indianembassy.itcommercial@indianembassy.it

Executive Summary


- India is Italy's fifth largest trading partner in the EU.

- Balance of trade has been in India's favour since 1988.

- The volume of bilateral trade during 2015 has reached Euro 7351.83 million. The exports from India reached Euro 4001.08 million, with a decrease of -3.79% in comparison to 2014.

- During 2015, India's imports from Italy stood at Euro 3350.75 million, registering an increase of 10.20% compared to 2014. Thus, the balance of trade remains in India's favour (+650.33 million).

- The thrust areas of India's exports to Italy are iron, cast iron, steel and ferro-alloys; organic basic chemicals,refined petroleum products; plants for the production of beverages; footwear; tanned leather, vehicles; fish, crustaceans and molluscs (processed and preserved); jewellery and related items; plastics in primary forms; dyes and pigments; parts and accessories for vehicles.


- Principal items of India's imports from Italy: machinery for textile, garment and leather industries (parts and accessories included); general purpose machinery; special purpose machinery; organic basic products; parts and accessories for vehicles; taps and valves; paper and cardboard; Machine tools for metal shaping; Ornamental and building stone, limestone, gypsum, chalk and slate; Tubes, pipes, hollow profiles and related accessories in steel (excluding cast steel); pumps and compressors; chemical products nca.


- Future Prospects for investment and trade are encouraging, as India is increasingly being seen as an emerging economic power in the world and an important economic partner in Asia, both in terms of trade and investment, and as an alternative to their original interest in Eastern Europe.

- Italy is India's fifth largest trading partner in the EU. Italy is the 14th largest foreign investor in India (0.67% of the cumulative total FDIs to India in the period April 2000 – March 2016). The European countries ahead of Italy in this respect are UK (that ranks 3rd), Netherlands (6th), Germany (7th), Cyprus (8th), France (9th), Spain (12th) and Luxembourg (13th).

- The Indo-Italian bilateral trend has been constantly increasing at high rates till 2011 and only in 2012 and 2013 the trend has registered a negative growth, respectively by -16.67% and -2.62%, due to the global economic recession. The bilateral trade crossed for the first time 7 billion Euro in 2010 and 8 billion Euro in 2011. In 2014 the bilateral trade registered a positive growth by +3.65% over the previous year and in 2015 the growth was +2.12%.

Bilateral trade statistics for the past few years are given below:

I. Indo - Italian Trade

Year

Total bilateral trade
(in Euro Million)

India's exports
(in Euro Million)

India's imports
(in Euro Million)

Balance of trade
(in Euro Million)

% change over previous year

2003

2,781.7

1,682.4

1,099.3

583.1

+6.14

2004

3,299.0

2,025.8

1,273.2

752.6

+18.73

2005

3,879.3

2,200.2

1,679.1

521.1

+17.55

2006

5,154.3

2,984.2

2,170.1

814.1

+32.87

2007

6,403.5

3,393.9

3,009.6

384.3

+24.54

2008

6,520.1

3,429.0

3,091.1

337.9

+2.15

2009

5,657.1

2,906.9

2,750.2

156.7

-13.22

2010

7,210.1

3,823.5

3,386.7

436.8

+27.45

2011

8,521.7

4,781.6

3,740.1

1,041.5

+18.19

2012

7,095.5

3,749.1

3,346.4

402.7

-16.67

2013

6,945.3

3,973.9

2,971.4

1002.5

-2.12

2014

7,199.0

4,158.5

3,040.5

1,118.0

+3.65

2015

7,351.8

4,001.1

3,350.8

650.3

+2.12

II. Italian global trade (with Indian share)

Year

Total Italian imports
(in Euro Million)

% Indian share

Total Italian exports
(in Euro Million)

% Indian share

2003

257,091

0.65

258,188

0.41

2004

282,205

0.72

280,691

0.45

2005

309,292

0.71

299,923

0.56

2006

352,464

0.86

332,012

0.66

2007

368,080

0.92

358,633

0.84

2008

377,283

0.91

365,806

0.85

2009

294,212

0.99

290,112

0.95

2010

367,390

1.04

337,346

1.00

2011

400,480

1.19

375,850

0.99

2012

380292

0.99

390182

0.86

2013

361002

1.10

390232

0.76

2014

356938

1.17

398870

0.76

2015

368715

1.08

413881

0.81



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