Italian Agriculture Minister Calls for Stronger Mutual Exports
Italian Agriculture Minister Francesco Lollobrigida emphasized the need to strengthen reciprocal trade relations with India, highlighting the robust ties already existing between the two nations. His remarks were delivered during the launch of the two-day 'Vinitaly' India Roadshow, a trade promotion event that began on Saturday.In a video message, Minister Lollobrigida described 'Vinitaly' as an essential platform for Italy's premier wine companies. He explained, “It is a platform where the best Italian wine companies and others represent themselves, meet, discuss," adding that the event fosters deeper understanding and development opportunities within the wine industry.
The minister further underscored the solid diplomatic relationship between Italy and India, stating clearly that the partnership "must be consolidated through mutual export." Lollobrigida expressed a keen interest in renewing and enhancing both friendship and bilateral trade between the two countries.
Historical Ties and New Opportunities Highlighted by Ambassador Antonio Bartoli
Italian Ambassador to India, Antonio Bartoli, during his address at the gala dinner ahead of 'Vinitaly,' recalled the historical significance of trade in wine and black pepper along the ancient Golden Road linking the Roman Empire with India.“We are not reinventing something; we are trying to revamp this,” Bartoli explained, noting that trade relations have experienced steady growth, averaging around 6 percent annually since 2017. Italy currently enjoys nearly a 17 percent share of India's wine import market but Ambassador Bartoli believes there is significant potential for growth.
Describing the collaboration as "a win-win situation," Ambassador Bartoli stressed that nurturing India's wine culture would benefit both nations economically, especially by empowering a sector currently performing below its potential.
Prominent Italian Wine Producers Gather at Vinitaly Roadshow
Several leading Italian wine consortia and producers are participating in the roadshow, including Piemonte Land of Wine (representing 14 wine consortia in Piedmont), Italia del Vino Consorzio (comprising 23 companies from 16 regions), Angelini Wines & Estates (operating vineyards across four regions), and Uvaitaly (featuring 11 producers from five regions).Business-to-business (B2B) meetings have been organized during the event, facilitating interactions among Indian importers, liquor store owners, hospitality professionals, and other industry stakeholders identified by the Indian Chamber of Commerce. These meetings aim to promote increased trade collaboration and networking opportunities. Additionally, participants will receive official invitations to attend the upcoming 57th Vinitaly in Verona, Italy, scheduled for April 6-9.
Italian Wine Market's Potential in India
The retail market for Italian wine in India currently stands at USD 33 million (inclusive of taxes), capturing an import market share of approximately 17 percent. While Italy ranks as the third-largest wine supplier by value in India's USD 418 million wine market, domestic wines dominate, holding a significant 50 percent share. However, Italy holds the second position in imported wine volume, exporting around one million litres annually to India.According to the Uiv-Vinitaly Observatory, Italian sparkling wine is particularly promising in the Indian market, projecting that sales could double, reaching approximately USD 20 million by 2028.
These optimistic forecasts are likely to improve further upon finalizing the anticipated free trade agreement between India and the European Union. Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen recently announced plans to finalize and sign this landmark agreement by the end of the year, promising increased opportunities for bilateral trade growth.
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