Kolkata, 8th December 2023: To explore new opportunities and strengthen trade relations between India and Italy, the Indian Chamber of Commerce has appointed Vas Shenoy as its Chief Representative for Italy. This proactive step is a part of the Indian Chamber of Commerce’s (ICC) strategy to prioritise Italy as a strategic country for Indian companies. This step follows the recent renewal and consolidation of diplomatic ties between the two governments after two visits of Italian Prime Minister Giorgia Meloni to India.
Established in 1925 in Calcutta (now Kolkata), the Indian Chamber of Commerce has consistently led the way in fostering business and driving economic growth in India for the past 98 years. Today ICC has offices at 11 locations in India including New Delhi, Mumbai, Hyderabad, Chennai, Guwahati, Patna, Ranchi, Siliguri, Agartala and Guwahati.
In the year 2022, the bilateral trade between India and Italy surged to Euro 14.88 billion while India's exports to Italy witnessed a substantial increase marking remarkable growth. The countries have upgraded their relationship to a strategic partnership as well as signed a defence cooperation and manpower mobility agreements this year. Apart from traditional sectors of collaboration such as machinery and automobiles, cooperation in verticals such as defence, fashion, accessories, and entertainment are also now sectors of priority, reflecting a diversified and mutually beneficial approach to economic collaboration.
President of ICC Ameya Prabhu said "As we strategically focus on elevating Italy within our international collaborations, the appointment of Vas Shenoy marks a pivotal step in fortifying our commitment to fostering robust business ties. His wealth of experience and expertise align seamlessly with ICC's vision for a flourishing partnership between India and Italy, promising innovative growth and shared prosperity."
Looking ahead, the prospects for bilateral investment and trade appear promising. The robust economic ties between India and Italy are poised for further growth and collaboration in the years to come and this initiative of the ICC is only going to ameliorate the capacity of this relationship.
In the words of Vas Shenoy, “The strategic relationship between India and Italy holds great potential in the private sector. 'Made in Italy' and 'Make in India' are synergistic visions, promising mutual benefits for these two great nations. Indian Chamber of Commerce (ICC) and its leadership’s focus on Italy as a growing economic power for India will be extremely important in promoting bilateral business relations to achieve the visions of both Prime Ministers. I hope to be able to support ICC and its leadership’s efforts to maximize the potential of the India-Italy bilateral relationship.”
Vas Shenoy, an Italian entrepreneur of Indian origin, brings a wealth of experience to the table. With over two decades of working with governments, private sector and multilateral organizations in 30 countries, Mr. Shenoy is a seasoned geopolitical strategist and analyst.
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