Italy is investing in India’s wine market, showcased through Vinitaly in New Delhi. The initiative focuses on premium wines and collaboration with Indian distributors, amidst ongoing EU-India Free Trade Agreement negotiations. Italy’s cultural connection to wine is highlighted, aiming for deeper appreciation and better market access through potential trade agreements.
Italy is strategically investing in the Indian wine market, particularly in premium wines, amid ongoing negotiations for a Free Trade Agreement (FTA) with the European Union (EU). During the recent Vinitaly wine roadshow in New Delhi, Italian exhibitors from prominent wine regions, including Apulia, Tuscany, and Veneto, sought collaboration with Indian importers, distributors, and consumers to enhance the Italian wine culture in India.
The initiative aims to capitalize on the rising demand for premium wines in India’s upscale hospitality and tourism sectors, highlighting its potential for growth. Despite a 90% increase in trade between India and the EU over the past decade, FTA negotiations have faced challenges, particularly concerning tariffs on wine and other goods. Recently, discussions resumed in Brussels after a set deadline was established by Indian Prime Minister Narendra Modi and EU President Ursula von der Leyen.
Antonio Bartoli, Italy’s Ambassador to India, emphasized that wine is not only a significant economic asset for Italy but also a fundamental aspect of its culture, representing values of togetherness and quality that resonate with India. The Vinitaly initiative is concerned with not only amplifying Italy’s market presence but also enriching the appreciation of Italian wines through advanced masterclasses for industry stakeholders.
Additionally, Vinitaly plans to showcase Italian premium food products, including high-quality extra virgin olive oil, in response to growing demand in the Indian market. This initiative aligns with the broader discussions on the potential EU-India trade agreement, aiming to improve access to the Italian wine market and create enhanced opportunities for both producers and Indian consumers.
In summary, Italy is actively seeking to strengthen its presence in the Indian wine market through initiatives like Vinitaly, focusing on premium offerings and cultural exchange. The stalled FTA negotiations present challenges, yet renewed discussions suggest progress may be on the horizon. This strategic move aims to create sustainable business relationships and enhance the appreciation for Italian wines in India as trade opportunities expand.
Original Source: indianexpress.com
