Italy’s Export Credit Agency, SACE, gathered Indian and Italian business and finance leaders in Mumbai to promote green energy transition and facilitate trade synergies. With a significant transaction portfolio of $173 billion, SACE is evaluating $1.6 billion of projects in sectors like green technologies, infrastructure, automotive, and steel. SACE’s financial support and business-matching opportunities make Italian technologies and products accessible on competitive terms, emphasizing their role as a catalyst for trade. The exclusive event highlighted the commitment to enhancing business collaboration between Italy and India for a more sustainable future.
On the occasion of World Standards Day, Italy’s Export Credit Agency, SACE, convened a gathering of a hundred leaders from the Indian and Italian business and finance communities in Mumbai. The aim was to explore trade and industrial synergies, with a strong focus on facilitating the transition towards green energy.
SACE, with an impressive transaction portfolio of $173 billion and a presence in India through its Mumbai office since 2012, plays a pivotal role in providing financial support and business-matching opportunities. This, in turn, enables Italian technologies and products to be accessible on competitive financial terms, thereby promoting industrial and infrastructural development plans globally.
Significant Green Initiatives in the Pipeline
SACE is currently in the process of evaluating $1.6 billion worth of new projects aimed at facilitating India’s transition towards green energy. These projects encompass a diverse spectrum of sectors, including green technologies, renewable energy, infrastructure, automotive, and steel, among others. The focus is on driving trade and industrial synergies between Italy and India, particularly in areas that contribute to environmental sustainability and energy transition.
Key Event Highlights Business Synergies and Collaboration
In line with these objectives, SACE organized a prominent event in Mumbai, titled “Italy meets India – A Push towards a Sustainable Future.” The event brought together an assembly of notable speakers, including Mr. Alessandro De Masi, Consul General of Italy in Mumbai; the Italian Ambassador to India; Mr. Vineyesh Sawhney, Head of Financial Resources at Reliance Industries; and Ms. Michal Ron, Chief International Business Officer at SACE. The event was moderated by Mr. Gautam Bhansali, Head of India & South Asia at SACE.
A Strong Focus on Trade Support
SACE serves as a catalyst for trade, offering comprehensive insurance and financial solutions to international corporations and governments, facilitating their acquisition of Italian technologies and products essential for investments and growth plans. Over the years, SACE has collaborated with key Indian groups such as Reliance Industries, JSW Group, and Shriram Finance, covering a wide range of sectors.
Strategic Initiatives for Sustainable Transition
Speaking at the event, Alessandro De Masi, Consul General of Italy in Mumbai, highlighted Italy’s unique export quality, underpinned by a blend of large champions and a robust SME supply chain. He emphasized the readiness to become a strategic trade and industrial partner for India, leveraging Italy’s competitive national export support system, which is further strengthened by SACE’s financial expertise.
Michal Ron, Chief International Officer at SACE, underscored Italy’s position as a leading producer of renewable energy technologies and environmental goods in Europe. SACE is committed to making these technologies accessible to India at competitive terms through innovative insurance and financial solutions.
Push Strategy Program to Support Investment and Growth
As part of its Push Strategy program, SACE offers international corporations access to medium to long-term financing, supported by SACE guarantees. A significant aspect of this agreement is the commitment to evaluate supplies from Italy in the execution of investment plans. This commitment is facilitated through a series of business matching meetings, where Italian companies, especially SMEs, interested in becoming accredited suppliers, interact with procurement teams of foreign corporations. This collaboration offers not just financial advantages but also the potential to expand networks with high-quality Italian suppliers known for their quality and competitive offerings.
Over the six years since the program’s inception, SACE has concluded numerous operations valued at $7 billion. The agency aims to expand the Push Strategy program further, particularly in high-potential markets like India.
About SACE
SACE is Italy’s Export Credit Agency and insurance & finance group directly controlled by the Ministry of the Economy and Finance. With a rich history of over 45 years, the SACE Group has been a pivotal partner for Italian companies venturing into foreign markets. It not only supports businesses but also the banking system by providing financial guarantees to facilitate access to credit, support liquidity, and promote investments for competitiveness and sustainability. The SACE Group operates globally with 13 offices strategically placed in target countries for Made in Italy products. It collaborates with primary local counterparts and, through dedicated financial instruments, facilitates business interactions with Italian companies. The Group has a portfolio of insured operations and guaranteed investments totaling Euro 164 billion and serves over 40 thousand companies, especially SMEs, supporting their growth in Italy and in around 200 foreign markets.
