Italy is leveraging the Indian market for premium wines through Vinitaly, focusing on cultural connections and trade opportunities. The showcase emphasizes luxury wines while addressing tariff negotiations relevant to an India-EU Free Trade Agreement. The initiative also includes masterclasses and promoting other Italian food products, underlining the importance of cultural exchange.
The Venice wine showcase, Vinitaly, recently visited New Delhi for the first time, highlighting Italy’s ambition to increase its market presence in India. This event focused on promoting luxury wines from Italy’s renowned regions, including Apulia, Tuscany, Veneto, Campania, and Abruzzo. The initiative aims to strengthen connections between Italian wine producers and India’s burgeoning network of importers and consumers, enhancing the country’s wine culture.
Italy seeks to capitalize on India’s growing premium wine market, particularly benefiting from the country’s upscale hospitality and tourism sectors. Growing trade relations between India and the European Union (EU), with a 90% increase over the past decade, underscore the urgency of addressing tariff negotiations surrounding the India-EU Free Trade Agreement (FTA), particularly on items like wine and whisky. While talks have experienced delays due to tariff disagreements, discussions resumed with a deadline set by Prime Minister Narendra Modi and EU President Ursula von der Leyen.
Ambassador of Italy to India, Antonio Bartoli, emphasized wine’s cultural significance to Italy, stating that it represents social values that resonate with India. He sought to strengthen ties through the appreciation of Italian wines as a medium for fostering connections between the two nations. Additionally, Vinitaly aspires to deepen the understanding of Italian wines with plans for advanced masterclasses targeting industry professionals and enthusiasts.
Beyond wines, Vinitaly will also promote other premier Italian food products. The event aims to showcase Italy’s finest extra virgin olive oils, acknowledging the rising demand in the Indian market. Organizers noted that the event coincides with ongoing discussions regarding the EU-India trade agreement, which would provide improved market access for Italian wines, creating additional opportunities for both Italian producers and Indian consumers.
In summary, Italy is strategically positioning itself in India’s wine market through the Vinitaly showcase, which emphasizes luxury wines and cultural connections. Continued efforts to resume tariff negotiations could enhance trade opportunities, and initiatives such as masterclasses and the promotion of Italian food products aim to further bolster these efforts. The ongoing talks regarding the EU-India trade agreement remain pivotal in unlocking enhanced market accessibility for Italian wines.
Original Source: indianexpress.com
