Posted on 06/13/2024 12:35:05 AM PDT by Cronos
When Italian Prime Minister Giorgia Meloni meets with Indian Prime Minister Narendra Modi on the sidelines of the G7 Summit, their discussions will cover several critical topics. Their primary objectives include strengthening defense cooperation, enhancing trade and investments, countering terrorism, and addressing issues related to the Indo-Pacific region.
Italy is actively engaging with the European Union’s Indo-Pacific Strategy and is eager to participate both economically and strategically. The relationship between India and Italy has seen significant progress in recent years. In 2022, Modi and Meloni met on the sidelines of the G20 summit in Bali, and Meloni visited India as a chief guest at the Raisina Dialogue in 2023, as well as attending the G20 Summit in New Delhi.
During her visit, India and Italy elevated their bilateral relations to a ‘Strategic Partnership,’ focusing on areas such as defense, the Indo-Pacific region, energy, and science & technology.
...India and Italy are keen to deepen cooperation on joint ventures, research and development, technology transfer, clean technology, renewable energy, information and communication technology, healthcare, aerospace, education, and cultural heritage. Italy, an important member of the European Union and a key trade partner of India, has more than 700 Italian companies active in India, employing about 60,000 people with an overall turnover of 9.7 billion euros. Major Italian companies in India include Ferrero, Fiat, CNH, and Perfetti. Italian industry sectors are looking to forge partnerships with India in food processing, alternative energy, clean water technologies, waste management, fashion design, and luxury segments, as well as innovation and start-ups.
Bilateral trade between India and Italy stood at US$15 billion in 2022-23, with India’s exports at US$8.691 billion, marking the highest level to date. Italy is India’s fourth-largest trading partner in the European Union.
(Excerpt) Read more at financialexpress.com ...
“Bilateral trade between India and Italy stood at US$15 billion in 2022-23”
Wonder how that compares with India’s trade with some other countries.
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