Italy is actively pursuing opportunities in India’s premium wine market through the Vinitaly roadshow in New Delhi, aimed at promoting luxury wines and Italian culinary culture. Despite challenges in Free Trade Agreement negotiations with the EU regarding tariffs, the initiative seeks to strengthen ties between Italian producers and Indian consumers.
Italy is keenly investing in the Indian market by introducing its premium wines, particularly highlighting the recent Vinitaly roadshow in New Delhi. This event, focusing on luxury wines, showcased exhibitors from renowned Italian wine regions such as Apulia, Tuscany, Veneto, Campania, and Abruzzo. The initiative aims to promote Italian wine culture and foster collaborations between Italian producers and India’s burgeoning network of importers, distributors, and consumers.
The growing premium wine segment in India presents a significant opportunity, especially within the upscale hospitality and tourism sectors. Despite a 90% increase in trade between India and the European Union (EU) in the last decade, negotiations for an India-EU Free Trade Agreement (FTA) remain challenging due to tariff differences. The EU is advocating for reduced tariffs on several products, including wine, as talks were recently resumed in Brussels.
Antonio Bartoli, the Ambassador of Italy to India, emphasized the cultural significance of wine for Italy, stating that it embodies values such as conviviality and quality, paralleling traits shared with India. Bartoli remarked on the potential for wine to enhance interactions and exchanges between both nations. Additionally, Vinitaly aspires to elevate awareness and appreciation of Italian wines by offering advanced masterclasses for industry professionals and wine aficionados.
The event also aims to showcase other premium Italian food products, particularly highlighting the increasing demand for high-quality extra virgin olive oil in India. By integrating olive oils into its exhibits, Vinitaly, in collaboration with organiser Veronafiere, seeks to capitalize on this trend. This initiative aligns with ongoing discussions regarding the EU-India trade agreement, which could significantly facilitate access to the Italian wine market and boost opportunities for both producers and Indian consumers.
Italy is strategically positioning itself to penetrate the Indian wine market through significant events like Vinitaly, focusing on luxury wines and cultural connections. The ongoing efforts to promote Italian wines and other premium food products are underscored by a broader trade agenda with the EU. Continued negotiations aim to resolve outstanding tariff issues, potentially unlocking greater market access and opportunities for both Italy and India.
Original Source: indianexpress.com
