Prime Ministers of India and Italy discussed bilateral relations and cooperation at the G7 Summit.
India-Italy Relations:
Historical and Political Ties:
- Ties date back to Marco Polo’s historic travels and trade routes.
- Official diplomatic relations were established in 1947, evolving into a Strategic Partnership in 2023.
- The 2020-2025 Action Plan aims to further enhance this partnership.
Economic Relations:
- Italy is India’s fourth-largest trading partner in the EU, with bilateral trade totaling USD 14.25 billion for 2022-23.
- India exports garments, leather, iron ore, motor vehicles, textiles, chemicals, gems, and jewelry.
- Italy exports machinery, machine tools, metallurgical products, and engineering items to India.
- The Indo-Italian Joint Economic Commission has been promoting trade since 1976.
- The 2023 Migration and Mobility Partnership Agreement has further solidified economic ties.
Science and Technology Cooperation:
- A Science & Technology Agreement was signed in 2003, focusing on electronics, biotechnology, and energy.
- The 2025-27 Executive Programme will promote joint R&D initiatives.
Defense and Security:
- The India-Italy Military Cooperation Group (MCG) enhances defense ties.
- Joint military exercises include PASSEX and MILAN.
- Italy supports the Science & Technology Pillar of the Indo-Pacific Ocean Initiative.
Multilateral and Global Cooperation:
- Italy is an active participant in the International Solar Alliance and the Global Biofuels Alliance.
- Collaboration includes significant projects like the Blue-Raman project.
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