Indian Tata Sons Chairman Meets Italian PM Giorgia Meloni in Rome

Indan company Tata Sons Chairman N. Chandrasekaran met Italian Prime Minister Giorgia Meloni at Palazzo Chigi, the official residence of the Italian premier, as India and Italy seek to strengthen industrial cooperation following Tata Motors’ acquisition of a controlling stake in Italian commercial vehicle manufacturer Iveco Group.

The meeting took place two days after the formal launch of the combined Tata Motors–Iveco commercial vehicle enterprise in Turin on November 3.

Tata Motors completed the initial settlement of its tender offer on October 30, securing an 89.42 per cent stake in Iveco and making the Italian manufacturer an indirect subsidiary of the Indian automotive giant.

The combined group has emerged as the world's fourth-largest commercial vehicle manufacturer in the above-six-tonne segment, with annual sales of approximately 590,000 vehicles and revenues of around €21 billions.

The enlarged company operates in more than 130 countries, with 27 manufacturing facilities, 25 research and development centres and a workforce of over 73,000 employees.

Under the integration strategy, Iveco will retain its headquarters in Turin, along with its existing brands and industrial operations. Tata Motors has expressed its commitment to supporting Iveco's existing business strategy and investment plans while exploring cooperation in engineering, technology, manufacturing and distribution.

Following the launch ceremony in Turin, Chandrasekaran had thanked the Italian government and Prime Minister Giorgia Meloni for their support in facilitating the transaction.

The meeting in Rome highlights strengthening economic and industrial relations between India and Italy, with the landmark acquisition marking a major expansion of Tata Motors' international presence in the global commercial vehicle market.