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Posted 27 Jul 2024

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India-Italy Strategic Partnership

Prime Ministers of India and Italy reviewed the progress on the sidelines of G7 Summit and agreed to strengthen cooperation in global and multilateral initiatives, including India-Middle East-Europe Economic Corridor (IMEC).

Key aspects of Bilateral Partnership

Political

  • Political relations between the two countries were established in 1947 which was elevated to Strategic Partnership in 2023.
  • In a Virtual Summit in 2020, 2020-2025 Action Plan was adopted that set an ambitious agenda for an enhanced Partnership between the countries.

Economic 

  • Italy is India’s 4th largest trading partner in the EU, after Germany, Belgium, and Netherlands.
  • Indo-Italian Joint Economic Commission Cooperation has been in existence since 1976.
  • Migration and Mobility Partnership Agreement signed in 2023 to ensure safe and legal migration.

Technology

  • News Science & Technology Co-operation Agreement signed in Nov 2003, with prime areas of joint research including Electronics, Biotechnology, Energy, etc.
  • New Executive Programme of Cooperation for 2025-27 to promote joint research and development in Science & Technology.

Defence and Security

  • In 2023, Italy joined Indo-Pacific Ocean Initiative’s Science and Technology Pillar.
  • Joint Military exercises:  PASSEX Exercise, MILAN (Naval Exercises).

Cooperation in Multilateral bodies

  • Italy joined India-led International Solar Alliance, Coalition for Disaster Resilient Infrastructure, Global Biofuels Alliance, and IMEC.
  • Tags :
  • PASSEX Exercise
  • India-Italy Strategic Partnership
  • India-Middle East-Europe Economic Corridor (IMEC)

INDUS-X Initiative Marks One-year Anniversary

India-US Defence Acceleration Ecosystem (INDUS-X) was launched in June 2023 to build defence innovation bridge between two countries under initiative on Critical and Emerging Technologies (iCET).

  • INDUS-X facilitates partnerships among U.S. and Indian defense companies, incubators and accelerators, investors, and universities.

Achievements of INDUS-X

  • Commercial collaborations between defence companies of two countries in various defence domains such as intelligence, surveillance, and reconnaissance (ISR) and semiconductors
  • Exploration of modalities for joint innovation funding between two countries
  • Indus-X Gurukul: A hybrid information series for U.S. and Indian defense start-ups.
  • Industry-Academia linkage: Exchange of best practices on technology transfer and licensing, advancing research in emerging defence technology domains etc. 
Infographic titled "Significance of India-U.S. Defence Ties." Key points include alignment with strategic objectives, defence industry development, addressing strategic challenges from China's emergence, and developing new defence domains such as Space Force and AI.

 

India-US Defence Technology Cooperation

  • In 2016, US designated India as a “Major Defence Partner”.
  • Defence agreements include:
    • Logistics Exchange Memorandum of Agreement (LEMOA) in 2016, 
    • Communications Compatibility and Security Agreement (COMCASA) in 2018,
    • Industrial Security Agreement in 2019 and 
    • Basic Exchange and Cooperation Agreement (BECA) in 2020. 
  • iCET: Overarching umbrella framework for technology cooperation, it covers commercial as well as defence technologies 
  • US-India Roadmap for Defence Industrial Cooperation: To fast track technology cooperation and coproduction in areas of mutual interest.
  • Tags :
  • iCET
  • INDUS-X
  • India-US Defence

Indo-Pacific Economic Framework for Prosperity

India attends Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meeting. 

  • At the meeting, IPEF members signed multiple agreements which are first-of-their-kind approaches to address 21st century challenges and strengthen economic engagement across Indo-Pacific.

Key outcomes of the meet

  • IPEF Clean Economy Agreement: To accelerate efforts of IPEF partners towards energy security and transition, climate resilience and adaptation, GHG emissions mitigation, etc.
  • IPEF Fair Economy Agreement: To create a more transparent and predictable business environment in member countries.
  • Cooperative Work Programme (CWP): 3 new CWPs announced on emissions intensity accounting, e-waste urban mining (led by India), and Small Modular Reactors.
  • Operational launch of IPEF Catalytic Capital Fund: To support expansion of the pipeline of quality clean economy infrastructure projects.

 

  • Note: These agreements will enter into force after at least five IPEF partners complete their internal legal procedures for ratification, acceptance, or approval.
    • India did not formally sign these agreements as domestic approval processes are still underway and will be completed after formation of the new government.

 

 

  • Tags :
  • Indo-Pacific Economic Framework for Prosperity
  • Cooperative Work Programme (CWP)

Colombo Process

India chaired its first meeting as Chair of the Colombo Process. 

About Colombo Process

  • Regional Consultative Process that provides platform for consultations on the management of overseas employment and contractual labour.
  • Comprises of 12 Member States of Asia such as Bangladesh, Sri Lanka etc.
  • India is one of the founding members.
  • Thematic priority areas are: Skills and Qualification Recognition Processes; Fostering Ethical Recruitment Practices, etc.
  • UN’s International Organization for Migration provides technical and administrative support to the Colombo Process. 
  • Tags :
  • International Organization for Migration
  • Colombo Process
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