Agreement with Invest India to foster business-to-business exchanges SIMEST announces new 500 million euro programme and opens office in New Delhi
Supporting Italian exports and strengthening the presence of companies in non-EU markets with the highest potential such as India and Japan, in keeping with the Export Action Plan launched by Foreign Minister Antonio Tajani, which aims to reach 700 billion in exports by 2027. This was the objective of the institutional mission led by the Ministry of Foreign Affairs and International Cooperation, which saw the participation of the Cassa Depositi e Prestiti (CDP) Group.
In New Delhi, in front of an audience of over 600 representatives of Italian and Indian companies, CDP and SIMEST illustrated the main export, internationalisation, development finance and business matching tools available to companies. Then, in the presence of Foreign Minister Tajani and Indian Trade Minister Goyal, CDP and SIMEST signed a Memorandum of Understanding with Invest India, the government agency for investment promotion, to foster partnerships between Italian and Indian companies and support new bilateral investments.
Also in India, SIMEST announced a package of new initiatives to support the international expansion of Italian companies, starting with a new 500 million euro programme. Specifically, more than 200 million euros will be earmarked for subsidised loans to support international expansion, innovation and sustainability projects, while 300 million euros will be allocated to support export orders, facilitating competitive payment terms for foreign customers.
As part of the mission, the new SIMEST office in New Delhi was also inaugurated, a strategic outpost to support Italian companies interested in operating in the Indian market.