India & Italy held a bilateral meeting on sidelines of G20 Summit in Brazil & unveiled 5-year Joint Strategic Action Plan outlining their vision for collaboration in key sectors, like defense, energy etc.
Key Highlights
- Economic Cooperation: Both countries agreed to boost trade & investment in sectors like green technologies, pharmaceuticals, etc through Joint Commission for Economic Cooperation & Working Group on Food Processing.
- Connectivity: They agreed to cooperate on India-Middle East-Europe Economic Corridor (IMEEC), a strategic initiative aimed at enhancing connectivity & trade between India, Middle East, and Europe.
- Science and Technology: They agreed on expanding cooperation in critical technologies like artificial intelligence & digitalization, with implementation of 2025-27 Executive Programme for Scientific & Technological Cooperation.
- They also introduced a new Indo-Italian Innovation and Incubation Exchange Program to foster academic & industrial collaboration.
- Energy Transition: Both countries agreed on organizing “Tech Summits” & strengthening alliances like Global Biofuels Alliance & International Solar Alliance.
- Defense cooperation: They decided to hold annual Joint Defense Consultative (JDC) meetings & Joint Staff Talks (JST) to improve coordination in defense matters.
- They also discussed establishing a Defense Industrial Roadmap to foster cooperation in defense manufacturing.
India-Italy Relations
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