India, Italy focus on advanced manufacturing; railways & agro-industry to lift partnership to the next level

NEW DELHI: The first “Indo Italian High Level Dialogue on Economical relations” ahead of leadership level meet next week was organised to open new chapter in economic partnership including in the areas of advanced manufacturing, railways sector and agro-processing. The two sides are also exploring partnership in defence sector with special focus on Navy.

This was an initiative promoted by AIICP (India-Italy Association for Cooperation and Partnership), in collaboration with Confindustria and Confederation of Indian Industry, CII and with the support of the Embassy of Italy in India and the Embassy of India in Italy.

“This initiative sees the participation of 60 CEOs from India and Italy and represents the kick off of a new strategic economic partnership between the two countries”, Ambassador of Italy in India, Vincenzo De Luca stated in the Dialogue organised on Wednesday. “Italy and India will join their economic capabilities and investments and focus on promoting a sustainable growth based on green economy and energy transition, advanced manufacturing, infrastructure and food processing, with a long term perspective of mutual engagement”.

Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio and Piyush Goyal Minister of Commerce and Industry spoke on the occasion.

Simultaneous thematic tables dedicated to six strategic topics were organized on advanced manufacturing, with focus on mechanics, machine tools and metallurgy; automotive; energy transition; infrastructure, with focus on railways; food processing and IT, as part of the dialogue.

The High Level Dialogue took place a few days after the Fincantieri, one of the world’s largest shipbuilding groups, has signed a Memorandum of understanding (MoU) with Cochin Shipyard Limited (CSL), the leading shipbuilder in India.

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With this agreement Fincantieri enhanced its presence in India, providing further momentum to the long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India. Fincantieri, indeed, has been following the renewal and expansion program of the Indian Navy’s fleet for some time, considering this market as strategic.

In the past, the group entered into contracts with CSL – to which the Indian Navy awarded the construction of the aircraft carrier Vikrant – for the design and integration of the unit’s engine system, as well as for the supply of complementary services. Thereafter, Fincantieri delivered the two fleet tankers “Deepak” and “Shakti” to the Indian Navy, in addition to the research vessel “Sagar Nidhi” built for the National Institute of Ocean Technology (NIOT).

The understanding laid down the cooperation principles in following fields:

• design, procurement and local construction of new vessels for the Indian defense market;

• local construction and marketing of mechanical products (such as propulsion propellers, shaft lines, stabilization and steering systems, thrusters, azimuthal thrusters);

• naval automation;

• ship repair;

• training of Indian personnel and consultancies to be carried out by Fincantieri in the field of design or construction or shipyard upgrade processes.

The MoU will be followed by a series of detailed agreements, outlining – from time to time – the respective roles and the scope of supply. Different areas of the Fincantieri group may benefit from these understandings: the Naval Vessels Division, the Systems and Components Division, as well as Seastema, Vard Marine and Fincantieri India.

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