Italian business leaders pledge investments in India after high-level meeting with Commerce Minister

Times of Oman

2 days ago

Milan: Leading Italian companies have announced significant investment plans for India following a strategic meeting with Union Commerce Minister Piyush Goyal in Milan, signalling strengthened economic ties between the two nations.
The meeting brought together top executives from key Italian industrial sectors, including commercial refrigeration, aerospace and defence, and technical gases, all expressing a strong commitment to expanding their operations in India's rapidly growing market.
Marco Nocivelli, CEO of EPTA Group, a specialist in commercial refrigeration, emphasised the substantial opportunities he sees in the Indian market.
"It is absolutely interesting to meet the minister and see how big the opportunity is in India," Nocivelli said.
"Big country with a growth rate that is an important one, and also an opportunity to present our sustainable technology that will bring to India a more advanced solution for refrigeration systems."
EPTA has already established a subsidiary in Bengaluru and plans to unveil its expansion strategy at a press conference in June. The company is introducing its Costan and IARP brands to India, offering comprehensive refrigeration solutions for the retail, food and beverage, and hospitality sectors.
Minister Goyal highlighted the strategic importance of this partnership and posted, "Pleasure to meet Marco Nocivelli, CEO of EPTA Group, a specialist in commercial refrigeration. With India's rapidly expanding retail and cold chain sectors, we discussed how the company could seize the opportunity and contribute toward sustainable refrigeration solutions in India."
Michele Poggipolini, CEO of Poggipolini S.p.A., an engineering and manufacturing technology company specialising in aerospace and defence, described his meeting with Minister Goyal as highly productive.
"It was a very good meeting. It was a big pleasure for me, especially because now we are entering the Indian market," Poggipolini stated.
The company plans to establish strategic partnerships in India to transfer expertise and technology to strengthen the domestic supply chain.
"We have this great opportunity to take our know-how and technology to India in order to try to elevate the domestic supply chain of the Indian market," Poggipolini explained.
Following the discussion, Minister Goyal noted the potential for collaboration and said, "Engaged in productive discussions on technology, innovation, and manufacturing opportunities for the company in India, given the country's growing role in global supply chains."
Daniele Forni, General Director of SOL Group, an Italian multinational leader in technical and medical gases production and research, also met with the Commerce Minister.
The company is exploring opportunities to expand its presence across key sectors in India.
Minister Goyal acknowledged the meeting's significance, describing SOL Group as "an Italian multinational leader in the area of production, applied research, and marketing of technical and medical gases" and noting discussions about how the group can "further expand its presence in India across key sectors."
These meetings underscore the growing economic partnership between Italy and India, with Italian companies recognising India's potential as both a manufacturing hub and a significant consumer market.
The commitments span critical sectors, including cold chain infrastructure, aerospace and defence manufacturing, and industrial gases, which are all areas where India is seeking to strengthen its domestic capabilities and supply chains.
The investment pledges come as India positions itself as a key player in global supply chains, offering attractive opportunities for international companies seeking to diversify their operations and tap into one of the world's fastest-growing major economies.
With formal announcements and detailed investment plans expected in the coming months, these partnerships represent a significant step forward in Italy-India economic cooperation, potentially creating jobs and bringing advanced technology to Indian markets while offering Italian companies access to India's vast consumer base and skilled workforce.