21st Session of India-Italy Joint Commission for Economic Cooperation (JCEC) was held on 09th July 2021 virtually. Mr. Piyush Goyal, Commerce & Industry Minister and Mr. Luigi Di Maio, Minister of Foreign Affairs and International Cooperation of Italy, co-chaired the Session.
Both sides held extensive discussions on bilateral trade and investment and economic cooperation in Food Processing, Textiles, Leather, Railways, startups and the promotion of SMEs, which play a crucial role in economic growth and employment generation. The bilateral market access issues and non-tariff barriers were also discussed to facilitate trade and investment. The progress on the outcomes of the India-EU leaders Summit in Porto, Portugal, was also reviewed.
The Indian side also raised the issues of Mutual recognition of the COWIN Vaccine Certificate and opening up of Travel restrictions, longer duration of Business Visas and Portability of social security benefits of Indians working in Italy.
Following the India-Italy JCEC G2G Meeting, a G2B Session focusing on Energy partnership was held virtually in the two ministers' presence. During the meeting, 3 Indian companies (Indian Oil Corporation, Adani Solar, ReNew Power) and 3 Italian companies (Enel Green Power, Snam, Maire Tecnimont) made presentations focusing on the areas of green economy, clean technology and promotion of the use of renewable energy for grid-based multi-energy systems. During the Session, both the Ministers reiterated the vision laid down by the Prime Ministers of India and Italy, under the Plan of Action adopted on 6th November 2020, to promote energy transition, leveraging technology and climate partnerships. They underscored the pioneering role played by India and Italy at the multi-lateral fora as early adopters of ambitious clean energy targets and invited the private and public sectors of both countries to explore synergies to enhance mutual energy capacities further.
Link to Official Press Release: PIB (https://pib.gov.in/PressReleasePage.aspx?PRID=1734404)
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