CII INDIA- MEDITERRANEAN Business Conclave 2024
The Mediterranean is of multifaceted importance for the global economy, as it is one of the most highly valued seas globally. A major contributor to regional GDP, the Mediterranean Sea currently generates massive economic value through its natural ecosystems and maritime resources; key economic sectors born of the sea include tourism, fisheries and aquaculture, transport and logistics, shipbuilding and recycling, energy, bioprospecting, and deep-sea mining.
The region is important for global trade, as trade flows within the region accounts for 25% of all international seaborne trade; to facilitate this, there are approximately 600 ports of varying sizes on the Mediterranean’s coasts .
The Mediterranean nations have been looking at India as an economy of opportunity. They are seeing India’s rise.
There is a need to discuss and deliberate on the need for strategic integration of better trade and economic prospects as well as an open and facilitative environment that will encourage value-added investments between the regions. There is also a need to develop an enabling trade and investment policy, liberalizing services sectors and understanding how to leverage trade agreements.
| India's trade with Mediterranean countries | |||||||
|---|---|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | ||
| Exports | 29.28 | 31.74 | 31.66 | 24.55 | 39.75 | 51.36 | |
| Imports | 19.32 | 21.62 | 21.99 | 17.42 | 24.42 | 31.84 | |
| Total Trade | 48.60 | 53.36 | 53.65 | 41.97 | 64.17 | 83.20 | |
India’s total trade with the Mediterranean Countries doubled from US$ 48.60 Billion in 2017 to US$ 83.20 Billion in 2022. The potential of further strengthening the economic ties between India and Mediterranean region is very high.
| Countries | Total Trade_2017 | Total Trade_2018 | Total Trade_2019 | Total Trade_2020 | Total Trade_2021 | Total Trade_2022 | Total Trade_2023 |
|---|---|---|---|---|---|---|---|
| Mediterranean Aggregation | 48.6 | 53.36 | 53.65 | 41.97 | 64.17 | 83.20 | 78.08 |
| Italy | 10.03 | 10.84 | 9.9 | 8.04 | 12.52 | 14.04 | 14.78 |
| Türkiye | 6.04 | 7.41 | 6.86 | 5.22 | 9.23 | 13.71 | 11.32 |
| France | 9.97 | 8.88 | 9.26 | 7.36 | 10.02 | 12.29 | 12.22 |
| Israel | 5.26 | 5.82 | 5.28 | 4.35 | 7.13 | 10.38 | 8.12 |
| Spain | 5.63 | 5.8 | 5.9 | 4.52 | 6.39 | 7.59 | 7.37 |
| Egypt | 3.56 | 4.5 | 4.66 | 3.92 | 6.27 | 6.9 | 5.50 |
| Jordan | 1.38 | 1.58 | 2.15 | 1.7 | 2.4 | 4.23 | 3.33 |
| Morocco | 1.19 | 1.66 | 2.04 | 1.84 | 2.75 | 3.97 | 2.48 |
| Algeria | 1.82 | 2.59 | 2.73 | 1.26 | 1.34 | 2.47 | 1.44 |
| Greece | 0.52 | 0.63 | 0.57 | 0.58 | 1.24 | 1.45 | 2.49 |
| Romania | 0.72 | 0.79 | 0.68 | 0.5 | 0.83 | 1.17 | 2.71 |
| Slovenia | 0.36 | 0.52 | 0.58 | 0.59 | 0.76 | 0.9 | 0.90 |
| Libya, State of | 0.15 | 0.31 | 0.28 | 0.15 | 0.58 | 0.87 | 0.94 |
| Tunisia | 0.38 | 0.45 | 0.41 | 0.37 | 0.61 | 0.76 | 0.82 |
| Bulgaria | 0.35 | 0.33 | 0.3 | 0.28 | 0.36 | 0.54 | 0.54 |
| Croatia | 0.2 | 0.19 | 0.2 | 0.17 | 0.39 | 0.51 | 0.33 |
| Lebanon | 0.28 | 0.32 | 0.26 | 0.2 | 0.31 | 0.47 | 0.49 |
| Malta | 0.22 | 0.22 | 0.28 | 0.44 | 0.49 | 0.41 | 0.43 |
| Cyprus | 0.11 | 0.09 | 0.84 | 0.14 | 0.16 | 0.21 | 0.18 |
| Syrian Arab Republic | 0.18 | 0.18 | 0.18 | 0.14 | 0.13 | 0.12 | 0.09 |
| Serbia | 0.08 | 0.09 | 0.09 | 0.1 | 0.1 | 0.1 | 0.13 |
| Albania | 0.06 | 0.05 | 0.1 | 0.05 | 0.09 | 0.07 | 1.37 |
| Macedonia, North | 0.05 | 0.05 | 0.04 | 0.02 | 0.03 | 0.03 | 0.04 |
| Montenegro | 0.04 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Bosnia and Herzegovina | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 |
| Palestine, State of | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Andorra | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| India's trade with Mediterranean countries | ||
|---|---|---|
| 2017 | 2022 | |
| Export | 29.28 | 51.36 |
| % Change | 75.41% | |
| Import | 19.32 | 31.84 |
| % Change | 64.77% | |
| Total Trade | 48.60 | 83.20 |
| % Change | 71.18% | |
With the above context CII with the support from Ministry of External Affairs, Government of India is organising the inaugural edition of the CII India Mediterranean Business Conclave as a platform for businesses to meet, exchange ideas and explore partnerships and also feed the industry-specific recommendations at the government level. This conclave will be a platform for business linkages.
Looking at the promising trade and investment figures of the Mediterranean nations, the conclave would have sessions under the following four tracks:
Suggested Tracks:
- Trade and Investment
- Natural resources
- Future technology
- Infrastructure and Logistics
This will be a two-day conclave with elements like B2G and B2B meetings, sectoral and thematic sessions, country round tables, participation of industry and trade delegations as well as networking opportunities.
The Conclave will aim at putting forward the business perspectives and priorities between the region and deliberating on the opportunities and challenges for businesses in India and Mediterranean region.
This conclave would promote business collaborations and facilitate Technology Transfers. Areas of Cooperation for the conclave include Maritime Cooperation, Blue economy, Defence, Building Sustainable Communities, Agri and Food, Clean energy, Resource efficiency, urban infrastructure, connectivity, Manufacturing Technology and Digital Connectivity and more.
The Conclave will also focus on the strategic role of Indian - Mediterranean partnership in changing geo-political scenario, strengthening bilateral engagements and discussions on emerging economic opportunities.