India and Italy work on an urbanization agreement. The topic has been the focus of the meeting held in Delhi among Michele Geraci, the Undersecretary of the Italian Economic Development, and Hardeep Singh Puri, Minister of Housing and Urban Affair. The event took place during the second visit of the Italian Minister to India. As a matter of fact, the Republic of India is among the 10 target countries that support Italian exports and investments.
The meeting with the Minister has been helpful to taking the stock of the 100 smart cities development plan of India, which is part of a bigger project to build 10 million dwellings by 2030. According to data (updated at 2016) from the World Cities Report issued by the United Nations, by the next 11 years, the Subcontinent will have about 7 megalopolis with more than 10 million inhabitants. New Delhi, the capital, has a population of 26.5 million people. As for the financial hub of Mumbai 21.4 million, Kolkata 15 million, Bangalore, the Indian Silicon Valley, 10.5 million. In Chennai, the centre of the local car industry, 10.2 million of inhabitants. Lastly, Hyderabad, the IT and tourism industry centre that by 2030 will count 12.8 million of inhabitants, and Ahmedabad, the textile industry heart whose population is set to 10.5 million.
The visit of the Italian Undersecretary is the second in four months, and occurred after the official visit in India of the premier Giuseppe Conte. It is "a country with huge potential, of which our enterprises are not well aware of. Target: making these opportunities known," wrote Geraci on Twitter, presenting his trip. It is sure that, as revealed by ICE data, India is one of the most promising trade partner for Made in Italy. In 2018, it was among the most dynamic markets outlet, and that registered the highest exports increase: +15%. While, according to SACE SIMEST estimate, the total Italian export value towards the Republic should reach 4.7 billion euros in 2021.
However, the market share is slightly higher than 1%, highlighted the Undersecretary. Adding on his personal website: "The number of Italian-funded companies in India is negligible (about 740), as well as the number of commissions: according to 2018 ANCE report, there are just 4 operational construction sites, for about 95 million euros of works".
To conclude, during the last India-Italy Joint Committee they identified the primary sectors for a future cooperation: equipment, renewable, financial sector, infrastructure, automotive and high technology.
(Source:Class Editori)
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