India gets major investment boost during Piyush Goyal’s Italy visit

India has received a significant vote of confidence from leading Italian companies during Union Commerce and Industry Minister Piyush Goyal’s visit to Italy, with several major firms announcing plans to expand operations and deepen their investments in India. The development marks a major boost to India’s ‘Make in India’ initiative and underlines the country’s rising prominence as a global manufacturing hub.
One of the biggest announcements came from Italian automotive components manufacturer Carraro Group, which revealed plans to invest Euro 350 million in India over the next five to seven years. This will nearly double its current investment base of Euro 200 million. The company, which already employs 1,600 people in India, sees strong growth potential in the Indian market and aims to scale its operations significantly. “India continues to be a major market for Carraro Group, and the government’s supportive stance has helped us grow steadily. We see vast opportunities for further expansion,” Francesco Sequi, CEO of Carraro India, reportedly stated.
Amid the rise in investments by Italian companies, UFI Filters, a key player in filtration and thermal management systems, announced its decision to double its investment in India to support rising demand and contribute further to domestic manufacturing. The company expressed confidence in India’s economic environment and laid out ambitious growth plans to meet future industry requirements.
Adding momentum to the investment push, Toschi Vignola, an Italian specialty food producer known for its black cherry products, fruit preserves, and syrups, said it will significantly scale up its operations in India. The company sees India’s expanding economy and evolving food preferences as a major opportunity for its product range. “India’s love for traditional flavors combined with increasing openness to Western food products makes it a strategic market for our future growth. The strong bilateral relations between India and Italy further strengthen our confidence to invest,” stated CEO Stefano Toschi. Toschi Vignola, which already serves more than 80 countries globally, plans to leverage India’s growing hospitality and food service sectors, catering to cafes, restaurants, and confectionery businesses.
Minister Piyush Goyal’s engagements in Italy included meetings with top executives from Carraro Group, UFI Filters, Toschi Vignola, ERTA Refrigeration, SOL Group, and iMoon Lighting Srl. These high-level discussions have resulted in renewed interest and fresh commitments from Italian businesses, reflecting deepening India–Italy trade and economic ties, according to information. Goyal also Co-chaired the Joint Commission on Economic Cooperation along with Antonio Tajani, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Italy. Both leaders agreed to work together for-ndustry 4.0 for smart manufacturing-Promoting a bridge between startups, Expanding collaborations in technology Establishing Joint Working Groups in the Space, Automobile sectors, among others.

Co-chaired the Joint Commission on Economic Cooperation along with @Antonio_Tajani, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Italy.

Discussed and agreed to work together for:

Industry 4.0 for smart manufacturing
Promoting a bridge… pic.twitter.com/0XS1ueJIa9

— Piyush Goyal (@PiyushGoyal) June 5, 2025

The announcements are expected to create new jobs, enhance technology transfer, and accelerate India’s self-reliant manufacturing journey. They come at a time when India is actively positioning itself as a global investment destination amid strong economic growth and policy reforms.

(Business Correspondent)