All the next deals of Leonardo, Enel, Railways and Fincantieri in India
From Enel to Italferr, from Tecnimont to Sparkle, up to the defense big names Leonardo and Fincantieri: here are the companies that will benefit from the strategic partnership and the strengthening of economic relations between Italy and India
Prime ministers Meloni and Modi have strengthened diplomatic and economic ties between Italy and India, starting with the announcement of a new agreement on defense matters.
“This year India and Italy celebrate the 75th anniversary of their bilateral relations. We have decided to give a boost to the partnership and we want to work to further strengthen our economic relations. There are many opportunities for investment in India,” Prime Minister Modi said after meeting Prime Minister Giorgia Meloni, who has chosen New Delhi for her first visit to Asia.
The decade of icy relations after the case of the marines and the AgustaWestland scandal, which had caused the suspension of the contracts of Finmeccanica (later to become Leonardo), therefore seems officially closed. Since 2014 Leonardo had been ousted from the country due to this court case. But in November 2021, the Indian defense ministry lifted the ban on the Italian defense company . And now it seems all water under the bridge for the renewed relations between Italy and India.
“Today they become those between two friendly states, which promise each other scientific, university, industrial collaboration, in cutting-edge research, in the extremely delicate defense sector: there are 600 Italian companies present in India, their number and their turnover can expand consistently, while we even go as far as planning joint military exercises between the two armies, a program based on the Indian request to "train" their chosen corps", underlines Corriere della Sera .
Great opportunities are thus emerging in India, the fifth largest economy in the world, for national companies in the defense sector , from Leonardo to Fincantieri to Elettronica. But not just for them. Yesterday, in addition to the meeting in New Delhi between Giorgia Meloni and Narendra Modi, Antonio Tajani, vice president of the Council of Ministers and minister of Foreign Affairs, chaired the Business Forum of the main Italian companies in India.
All the details.
TRADE BETWEEN ITALY AND INDIA IS GROWING…
On the occasion of the India-Italy business round table, Minister Tajani underlined how the visit of Prime Minister Meloni is a clear confirmation of the Italian Government's willingness to strengthen bilateral cooperation with India, in particular by relaunching the partnership strategic – at 360 degrees – in the private sector.
Both Meloni and Tajani in their speeches emphasized commercial exchange which reached a record level of 15 billion euros in 2022. Furthermore, the owner of the Farnesina underlined how over 600 Italian companies have established their presence in the country Asia, particularly in the industrial districts of Delhi and Mumbai/Pune.
…AS WELL AS THE OPPORTUNITIES FOR ITALIAN COMPANIES IN THE FIFTH WORLD ECONOMY
In view of the meeting between Meloni and Modi, the Indian press had revealed that preparatory work was underway to sign or at least announce an agreement on defense.
Already last week, Indian Defense Minister Rajnath Singh had talks with Undersecretary of Defense Matteo Perego Di Cremnago (representing Defense Minister Guido Crosetto) in Bengaluru on the sidelines of Aero India, the biennial show hosted in Bangalore, the first visit like that for several years. Perego also met with the Chief of the Defense Staff, General Anil Chauhan, with whom he discussed collaboration in the areas of air, underwater and electronic warfare.
We are now awaiting a visit from Defense Minister Guido Crosetto, who, together with his Indian counterpart, will give more content to the memorandum signed yesterday. Agreements are expected from the agreement both for Leonardo, but also for Fincantieri and Elettronica. Although bilateral ties have been affected by the AgustaWestland scandal, Italy is involved in India's defense industry through naval giant Fincantieri, the provider of know-how for technology upgrades and capability enhancements for India's first aircraft carrier , the INS Vikrant, commissioned in September 2022.
ITALFERR, LEONARDO, SPARKLE, MARELLI AND FINCANTIERI AT THE BUSINESS FORUM IN INDIA
But in addition to the importance of the defense sector, the renewed synergy in Italian-Indian economic relations will also benefit other leading companies in the security, energy and transport sectors awaiting investment projects.
As confirmed by the attendance registered at the Italy-India Business Forum chaired by Minister Tajani and the Indian Minister of Commerce and Industry Shri Piyush Goyal. In addition to the CEO of Leonardo International, Pasquale Di Bartolomeo and the CEO of Fincantieri China Fabrizio Ferri, the president of Tecnimont India, Gianni Bardazzi, the director of Enel Grids, Antonio Cammisecra, the brothers Matteo and Michele Colaninno of the Piaggio Group took part , the CEO of Italferr (Railways group) Andrea Nardinocchi, the Operations Director of India, Asia and Pacific of Stellantis, Carl Smiley, the president of Marelli India and of the Electronic Systems division of the Marelli Group, Ravi Tallapragada and the president of Simest, Pasquale Salzano.
The presence of Sparkle's CEO, Enrico Maria Bagnasco, should also be highlighted, given that the subsidiary of the Tim group, which operates in the strategic sector of submarine cables for telecommunications, is building Blue & Raman Submarine Cable Systems. In particular, Blue System will connect Italy, France, Greece and Israel and Raman System Jordan, Saudi Arabia, Djibouti, Oman and India.
Just on March 1, Sparkle started laying BlueMed in Genoa, which is part of the larger Blue Submarine Cable System project. The submarine cable will connect Italy with France, Greece and Israel, with various branches in the Mediterranean Sea.
THE AGREEMENTS SIGNED BY ENEL
Finally, “another sensitive chapter is the energy transition, on which a bilateral strategic partnership was launched in 2021: the Indian goal is to produce 500 gigawatts from renewables by 2030. The positioning of Enel Green Power, Snam and Maire Tecnimont can be consolidated”, highlights Il Sole 24 Ore .
And Enel, through its subsidiary Gridspertise, has signed two memoranda of understanding (MoU) with Tata Power Delhi Distribution Limited (a joint venture between Tata Power and the government of the National Capital Territory of Delhi) to favor the acceleration of the transformation digital power distribution networks in India.
The signing of the memoranda was announced by Antonio Cammisecra, director of Enel Grids, on the occasion of the Business Roundtable between India and Italy who commented: "The agreements are the result of years of close collaboration between Enel and the main Indian organizations in the energy sector" .
One of the agreements aims to accelerate the digitization and automation of secondary substations and sees Tata Power-DDL joining the international co-creation program of the QEd – Quantum Edge device, a Gridspertise proprietary device. The second agreement is aimed instead at implementing the latest Gridspertise meter technology in a pilot project in the Tata Power-DDL network, in which the new hybrid dual-channel communication meter technology will be tested and evaluated in real field conditions .
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tutti-i-prossimi-affari-di-leonardo-enel-ferrovie-e-fincantieri-in-india/ on Fri, 03 Mar 2023 13:33:38 +0000.