is there any festival dedicated for this?
Yes, Venues for music in Italy also called  international music festivals each year
Music of Italy
Venues for music in Italy include concerts at the many music conservatories, symphony halls and opera houses. Italy also has many well-known international music festivals each year, including the Festival of Spoleto, the Festival Puccini and the Wagner Festival in Ravello. 
what is italy's gift to the world of music UNANSWERABLE what is this music refers to? : Italian folk music is an important part of the country's musical heritage, and spans a diverse array of regional styles, instruments and dances does it have any political connection? Music and politics have been intertwined for centuries in Italy
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Music of Italy [SEP] Venues, festivals and holidays
Venues for music in Italy include concerts at the many music conservatories, symphony halls and opera houses. Italy also has many well-known international music festivals each year, including the Festival of Spoleto, the Festival Puccini and the Wagner Festival in Ravello. Some festivals offer venues to younger composers in classical music by producing and staging winning entries in competitions. The winner, for example, of the "Orpheus" International Competition for New Opera and Chamber music—besides winning considerable prize money—gets to see his or her musical work performed at The Spoleto Festival. There are also dozens of privately sponsored master classes in music each year that put on concerts for the public.