Indian Italy Trade Relations have shown an overall growth over the years. The figures of export and imports in between both the countries showed a positive trend till 2008, which declined to certain extent in 2009.
Overview of India-Italy Trade Relations
Indo- Italy Trade Relations
Indian Exports to Italy
Italy comes in the fifth position in the EU when it comes to trade with India and also with regards to investment; Italy is on the 13th position. Bilateral trade between India and Italy has registered an increase over the last many years; but unfortunately the recession in the economy on a global basis in 2009 resulted in a downfall in the trade between two countries.
- Bilateral Trade figures have touched Euro 5,657.1 million. While the export figures reached Euro 2,906.9 million but in comparison to 2008, there has been a decrease of 15.23% in 2009.
- As of 2009, the imports from Italy showed a decrease of 10.99% in comparison to 2008 and the figures stood at Euro 2,750.2 million. Bilateral trade balance over all remained in India’s favour.
- India's exports to Italy deal mainly in textiles, including cotton and synthetic yarns and fabrics, readymade garments, motor vehicles, footwear, iron and steel, leather and leather goods and many other items.
- General and special purpose machinery, chemical products, auto components, pharmaceutical and medicinal products, general hardware, plastic and many other products are imported from Italy by India.
- Figures of trade between both the nations has increased over the years till 2008 when it registered a total turn over of 6,520.1 Euro million which reduced to 5, 657, 1 Euro million in 2009.
- Balance of trade between the two nations remained 337.9 Euro million till 2008 which showed a decline in 2009 and was recorded as 156.7 Euro million.
- Total Italian exports till 2009 has accounted to Euro 290,112 million of which India has a share of 0.95%.
- 2006- The value of exports to Italy came out to be 2,984.2 Euro million
- 2007- It was recorded to be 3,393.9 Euro million
- 2008- Export was recorded to be 3,429.0 Euro million
- 2009- Global recession led to a decrease in the exports to Italy and it came out to be 2,906.9 Euro million.
Some of the Commodities exported to Italy and their value in Euro million have been listed below:
- Wearing apparel: 389.3 Euro million
- Motor Vehicles: 335.8 Euro million
- Basic Chemical Products: 236.3 Euro million
- Basic iron and steel and Ferro-alloys: 193.6 Euro million
- Footwear: 164.6 Euro million
- Textile Products n.e.c: 129.4 Euro million
- Refined Petroleum Products: 128.4 Euro million
- General purpose machinery: 95.8 Euro million
- Textile yarn and thread: 91.4 Euro million
- Leather and leather products: 85.0 Euro million
- Parts and accessories for motor vehicles and their engines: 83.1 Euro million
- Products of permanent crops:82.5 Euro million
- Processed and preserved fish and fish products: 63.9 Euro million
- Other metal products n.e.c: 59.0 Euro million
- Textile fabrics: 56.6 Euro million
- Jewellery and related articles: 52.3 Euro million
- Basic Pharmaceutical Products: 48.5 Euro million
- Sand and clay: 45.4 Euro million
Find the list of the items imported by India and their value in Euro million-
- Special Purpose Machinery n.e.c: 496.1 Euro million
- General purpose machinery: 316.5 Euro million
- Other general machinery n.e.c.: 216.9 Euro million
- Other metal products n.e.c.: 152.5 Euro million
- Basic chemical products: 145.9 Euro million
- Parts and accessories for motor vehicles and their engines: 121.5 Euro million
- Machine tools: 113.9 Euro million
- Tubes and related accessories: 90.3 Euro million
- Instruments and appliances for checking, testing and navigating: 87.0 Euro million
- Electric motors, generators and transformers; electricity distribution and control apparatus: 82.2 Euro million
- Basic iron and steel and ferro-alloys: 60.8 Euro million
- Leather and leather products: 90.3 Euro million
- Apparatus for TLC: 87.0 Euro million
- Other chemical products n.e.c. 41.4 Euro million
- Pulp, paper and paperboard: 39.1 Euro million
- Aircraft and spacecraft: 36.9 Euro million
- Pharmaceuticals and medicinal products: 35.3 Euro million
- Basic precious metals and other non-ferrous metals, nuclear fuels: 34.6 Euro million
- Cutlery, tools and general hardware: 34.5 Euro million
- Plastic products: 31.3 Euro million
There has been a considerable growth in imports from Italy over the last couple of years which reduced to a certain percentage in 2009 due to economic slowdown globally.
- 2006- The import figures stood at 2,170.1 Euro million
- 2007- It increased to 3,009.6 Euro million in the next year
- 2008- A positive trend followed the very next year and the figure reached at 3,091.1 Euro million
- 2009- Global recession led to a decrease in the imports and it retarded to reach 2,750.2 Euro million
Indian Chamber of Commerce in Italy: The ICCI organises several trade fairs both in India and Italy:
For expansion of trade globally, India Trade Promotion Organization (ITPO) was initiated by the Government of India almost three decades ago. Earlier it was known as Trade Fair Authority of India and Trade Development Authority. Its main objective is to promote trade between India and other nations all across the world by organizing different events, fairs, in India and abroad, Buyer-Seller Meets, Contact Promotion Programs, Product Promotion Programs, Promotion through Overseas Department Stores, Market Surveys and Information Dissemination. India Trade Promotion Organisation (ITPO) will be organising AF-L Artigiano in Fiera, in Milan (Italy) from December 4-12, 2011 which will showcase Indian handicraft products.
The other groups organizing Indian event in Italy are:
- Chemtech Foundation
- India Label Show
- Indina International Garment Fair
- Tafcon Group