About Us Trade and Economic Relations

Commercial Representative

Tel: 0036-064884642/0642014152

Commercial Section email: commercial1.rome@mea.gov.in

Executive Summary

  •  India is Italy's fourth largest trading partner in the EU.

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

  •  The volume of bilateral trade in 2021 has reached Euro 10,488.10 million. The exports from India reached Euro 6,603.10 million, with an increase of 55.91% in comparison to 2020.

  •  During 2021, India's imports from Italy stood at Euro 3885.0 million, registering an increase of 28.32% compared to 2020. Thus, the balance of trade remains in India's favour (2,718.1 million).

  •  The top items of exports from India to Italy are: organic basic product, clothing, general purpose machinery, precious metals and other non precious metals, other textile products, fish, crustaceans and molluscs (processed and preserved), pharmaceuticals, dyes and pigments and yarns, pharmaceuticals, motor vehicles & parts, refined petroleum products, footwear, industrial machinery, apparel, electrical machinery, Plastics, Iron & Steel Articles, Oil & Minerals Fuels, Leather goods.

  •  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.

  •  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 4th largest trading partner in EU, after Germany, Belgium and The Netherlands. Italy is the 17th largest foreign investor in India (0.53% of the cumulative total FDIs to India in the period April 2000 – June 2022). The European countries ahead of Italy in this respect are UK (that ranks 6th), Netherlands (4th), Germany (9th), Cyprus (10th), France (11th), Switzerland (12th), Luxembourg (15th) and Spain (16th).

  •  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 2015 the bilateral trade registered a positive growth by +2.12% over the previous year and in 2016 the growth was +2.25%. Also in 2017 and 2018 the bilateral trade registered a growth (+16.15% and +8.82% respectively). A slight negative trend was in 2019 (-3.66%) followed by a -20.59% in 2020 due to the pandemic. In 2021 with a growth by +44.41%  the bilateral trade crossed 10 billion Euro and reached 10.49 bln Euro.


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

2017

8723.68

5147.10

3576.58

1570.52

16.15

2018

9492.78

5536.10

3956.68

1579.42

8.82

2019

9145.75

5153.89

3991.86

1162.03

-3.66

2020

7262.61

4235.05

3027.56

1207.49

-20.59

2021

10488.10

6603.15

3884.95

2718.20

44.41

 

II. Italian global trade (with Indian share)

Year

Total Italian imports

(in Euro million)

% Indian share

Total Italian exports (in Euro million)

% Indian share

2017

401,487.20

1.28

449,129.03

0.80

2018

426,045.68

1.30

465,325.42

0.85

2019

424,236.23

1.21

480,352.08

0.83

2020

373,428.35

1.13

436,717.84

0.69

2021

472,070.07

1.40

516,261.75

0.75