India, new outlet for businesses

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India as a new outlet for European and Italian companies. According to Marina Benedetti, Senior economist at Sace, “old and new global geopolitical tensions, the rapid adoption of e-commerce, the pandemic and the Russia-Ukraine conflict have led all companies to have to review their supply strategies with a view to diversifying the offer, and India represents one of the economies with the greatest potential».

Benedetti, on the occasion of the focus on “Enterprises and markets: opportunities and challenges for Made in Italy”, organized in collaboration between Sace, Assolombarda and Ispi, underlined how «New Delhi today represents the fifth world economy with a value of 3.5 trillion dollars according to 2022 GDP data, which represents well the 3.4% of global GDPsurpassing the United Kingdom’.

Commercial relations between Italy and India, the 29th destination market for our Made in Italy in 2022, are increasingly consolidating and this is also confirmed by the results of our study contained in the Map of Risks and Opportunities. Italian exports in 2022 amounted to 4.8 billion euros, up by 24.2%, more than the average of our global exports, while imports reached 10 billion euros, with a growth of more than 50% in particularly in the metallurgical, chemical, mining and textile sectors. The greatest demand for Italian goods is in the instrumental mechanics sector, while chemicals recorded a growth of almost 20% reaching 700 million euros. «Overall, in 2022, all sectors recorded double-digit growth, even exceeding the pre-pandemic values» concluded Benedetti.