Italy is focusing on expanding its premium wine market in India amidst ongoing EU-India FTA negotiations. The Vinitaly wine roadshow in New Delhi aimed to promote Italian wine culture and facilitate connections between Italian producers and Indian distributors. With trade between India and the EU on the rise, Italy is optimistic about leveraging this opportunity for growth.
Italy is strategically targeting the Indian market to promote its premium wines, as wine tariffs remain a key issue in the India-European Union (EU) Free Trade Agreement (FTA) negotiations. The recent Vinitaly wine roadshow, which took place in New Delhi for the first time, showcased high-end wines from renowned Italian regions including Apulia, Tuscany, Veneto, Campania, and Abruzzo. This event aimed to foster collaboration between Italian producers and India’s growing network of importers and distributors.
As India’s premium wine segment expands, Vinitaly aims to leverage this growth, particularly in the upscale hospitality and tourism sectors. With trade between India and the EU having surged approximately 90% over the past decade, FTA discussions have faced challenges due to differing viewpoints, particularly regarding tariffs on key products like wine.
The FTA talks resumed recently in Brussels, following a commitment by Indian Prime Minister Narendra Modi and EU President Ursula von der Leyen to conclude negotiations by year-end. Italy’s Ambassador to India, Antonio Bartoli, emphasized that wine is a vital part of Italian culture, further stating that it fosters connections between Italy and India.
In addition to increasing its market presence, Vinitaly intends to enhance the awareness and appreciation of Italian wines through advanced masterclasses for professionals and enthusiasts alike. The initiative will also showcase Italy’s other premium food items, such as high-quality extra virgin olive oil, to meet the growing demand in India. The ongoing trade discussions between the EU and India may facilitate greater accessibility for Italian wines in the Indian market, benefiting both producers and consumers.
Italy’s concerted effort to penetrate the Indian wine market through initiatives like Vinitaly highlights the potential for growth within the premium segment. With ongoing FTA negotiations posing challenges, Italy remains optimistic about enhancing cultural connections and expanding its market share in India, thereby increasing opportunities for both Italian producers and Indian consumers.
Original Source: indianexpress.com
