India is one of the best markets for Italian manufacturers: ACIMIT

“In 2023, India represented the third largest foreign market for the Italian textile machinery industry. The country imported Italian textile machines for a total value of €154 million,” Salvadè told Fibre2Fashion on the sidelines of an event in New Delhi yesterday.

As a way forward for a stronger Indo-Italian business cooperation, a workshop on Italian textile technologies with B2B meetings on “Latest Italian Technology of Entire Value Chain from Spinning, Knitting, Weaving, Nonwovens, Dyeing and Finishing” was held at At Hyatt Regency Hotel, New Delhi.

The workshop was organised by the Italian Trade Agency (ITA – the Trade Promotion Section of the Italian Embassy), in collaboration with ACIMIT, which is supporting a delegation visit of 11 well-known textile machinery manufacturers to India from April 9 to 12, 2024.

The next technology showcase event is scheduled in Mumbai on April 11, 2024, at Hyatt Centric Juhu Hotel. The event presents a chance to decision-makers and experts from the textile and nonwovens industry in India to inform themselves about the latest textile machinery solutions to make their textile business and products more sustainable and efficient, according to the ITA.

“The Indian economy is performing very well, so we expect that these technology workshops, organised by ACIMIT and ITA in the country can be an additional business opportunity,” said Salvadè. “Also, thanks to these two events, placed in New Delhi and in Mumbai, I am confident that Indian textile operators will have a complete overview of the latest innovations carried out by the Italian manufacturers and shown during the last ITMA in Milan. Mainly in the area of sustainability, Italian companies propose technological solutions that can reduce energy consumption and pollution in the textile production processes. These are goals pursued by all textile companies that want to be competitive in the world scenario.”

Speaking to Fibre2Fashion, Antonietta Baccanari, Trade Commissioner, Italian Trade Agency (ITA), said, “As we delve into discussions regarding the digitalisation of the Italian machinery sector and its potential collaboration with our Indian counterparts, it is worth noting that we are already beginning to integrate AI into our working strategies and production systems, marking a significant step forward in our approach to innovation.

“The enthusiasm displayed by India towards adopting new technological solutions, particularly AI, underscores the immense opportunities that lie ahead in this vibrant market. This initiative is specifically tailored for our ACIMIT members, providing them with a platform to showcase their innovative offerings. Reflecting on today’s discussions, it becomes evident that fostering collaboration between India and Italy in the technological advancements is paramount.”

Highlighting the significance of this collaboration, it is noteworthy that according to the trade data from the Ministry of Commerce, Government of India, Italy accounts for 7 per cent of the total textile machine imports by India, and machine imports from Italy have surged by over 228 per cent from 2020 to 2023, indicating a deepening commitment and partnership with Italian companies.

“The textile machinery sector holds a pivotal role in shaping India’s economic landscape and influencing global trade dynamics. Therefore, our dedication to fostering closer collaboration between our two nations remains steadfast,” added Baccanari.

Fibre2Fashion News Desk (RKS)