KOLKATA, Dec 5: Marking a milestone in its international expansion strategy, the Indian Chamber of Commerce (ICC) has inaugurated its first overseas office in Italy.
The ICC said this strategic move underscores its commitment to fostering robust trade relations between India and Italy and expanding opportunities for Indian businesses in the European market.
ICC has appointed Vas Shenoy, a businessman and seasoned geopolitical strategist and analyst, as Chief Representative for Italy who
will play a major role in driving the chamber’s engagement with the Italian business community and government entities.
ICC President Ameya Prabhu said, “The opening of our first overseas office in Italy marks a pivotal step in ICC’s global expansion strategy.”
ICC Italy’s primary focus will be on promoting India as an attractive investment destination for Italian companies and facilitating the entry of Indian businesses into the Italian market.
The establishment of ICC Italy aligns with the recent strengthening of diplomatic ties between India and Italy. The two countries have upgraded their relationship to a strategic partnership and signed defence cooperation and manpower mobility agreements in 2023.
The growing economic ties between India and Italy are evident in the surge in bilateral trade, which reached Euro 14.88 billion in 2022.
India’s exports to Italy have also witnessed a substantial increase, highlighting the deepening economic relationship between the two nations. (PTI)