PM Modi announces 'India-Italy Special Strategic Partnership' after meeting with Giorgia Meloni
India and Italy have entered into a 'Special Strategic Partnership' after PM Modi held bilateral talks with Giorgia Meloni in Rome. As part of the agreement, the two nations have set a target of 20 billion euros worth of trade by 2029.
Prime Minister Narendra Modi on Wednesday announced the elevation of India-Italy ties to a "Special Strategic Partnership" after holding bilateral talks with his Italian counterpart Giorgia Meloni in Rome.
"India and Italy are elevating ties to a Special Strategic Partnership. India-Italy relations are now capable of realising their fullest potential," PM Modi said.
He also announced the India-Italy Joint Strategic Action Plan 2025-2029, saying it would provide a practical and futuristic structure to their partnership.
"We are moving forward on this in a time-bound manner. Trade between our countries is moving towards the 20 billion euros target. Over 400 Italian companies in India are contributing to India's growth story," PM Modi said.
Highest level of ties between Italy, India: Meloni
Beginning the presser, Prime Minister Giorgia Meloni said India and Italy have elevated their ties to a special strategic partnership, calling it the highest level ever reached between the two countries. She said the relationship is now closer than ever and capable of realising its full potential.
Meloni credited the progress in bilateral ties to her seven meetings with Prime Minister Narendra Modi over the past three and a half years, saying the two leaders have developed an honest friendship built on mutual respect and trust. She also praised PM Modi’s vision, pragmatism and leadership, noting his continued popularity among Indian citizens after years in office.
According to Meloni, their personal rapport has played a key role in enabling both nations to work together swiftly and effectively.
India-Italy set a 20 billion euros trade target
During the press briefing, the two leaders set a massive trade target of 20 billion euros between India and Italy, raising the current figure of 14 billion euros.
"We certainly want to foster our already strong trade up to 20 Billion Euros, all the way up from the current 14 Billion Euros by 2029. This is a very ambitious target which can also be achieved by taking advantage of the potential stemming from the Free Trade Agreement signed between the EU and India," Meloni said.
She also announced talks to promote the Innovate India Initiative, which will lead to the creation of a centre in New Delhi that can foster cooperation between our talents, our innovative ecosystems, startups, enterprises, universities and research institutes.
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