Investing in India, the trend of Italian machinery
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India's economic development reflects positively on trade and industrial cooperation with Italy. In the agricultural machinery sector, the value of Italian exports stands at 26 million, but local investments are more promising. Currently many Italian industries are present in India with their own factorie
GMF news - World Trade Fair Guide. Turin, December 9, 2019 – The Indian economy is growing at a rapid pace and the increase in gross domestic product in 2018 was 7.3%, the highest among the G20 countries. The country's economic growth produces a greater demand for foreign technologies, with a benefit also for Italy, which exports a wide range of products to India, in particular in the sectors of industrial machinery, chemistry and metallurgy. In 2018 the total value of Italian exports to India reached 4 billion euros, and it is expected that in 2019 this value will increase by 7.9%, growing further by 6.8% annually in the period 2020-2022.
This trend will also concern agricultural machinery, a sector in which Italy is one of the largest producers in the world and India the country with the largest market (in 2018 alone, 800 thousand tractors were sold in the country). However, agricultural mechanization is a strategic asset that is too important to be limited to machinery imports alone. The Indian agricultural machinery industry has grown considerably in recent years - this emerges from the data released at EIMA Agrimach, the international review of agricultural machinery taking place in New Delhi - precisely to satisfy the internal demand for effective technologies that can be accessible in terms of cost.
In recent years, Italian machinery exports to India have remained at significant levels (26 million euros was the value of Italian exports in 2018), but certainly below the levels achievable in a country with such potential. Meanwhile, the local productive settlements and the joint ventures of Italian companies have grown considerably.
Today, large and medium-sized Italian companies - including Adr, Ama, Bcs, Carraro Assali, CNH Industrial, Kohler Lombardini, Maschio Gaspardo, Mita CBM, Ognibene, Safim, 76 Graphics Evolution - directly produce in India a range of products ranging from tractors to axles, from equipment for soil processing to machines for treatments and components, with high standards both in terms of quantity and quality. The forecast is that this trend may grow in the near future.
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