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.