India and Italy have elevated their bilateral ties to a special strategic partnership, committing to boost their trade exchange to €20 billion by 2029. This development follows talks between Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni, aimed at strengthening their cooperation amid ongoing global conflicts and geopolitical tensions. The two leaders expressed their concerns over the conflicts in Ukraine and West Asia, emphasizing the need for de-escalation and diplomacy to secure lasting peace. They also advocated for the freedom of navigation and the uninterrupted shipping through the Strait of Hormuz.
Prime Minister Modi’s visit to Rome marked the conclusion of a five-nation tour focused on enhancing India’s energy security and cooperation in critical areas like defense, trade, and emerging technologies. During his discussions with Meloni, the two agreed on leveraging the anticipated India-European Union (EU) free trade agreement, set to be signed later this year. Modi highlighted the progression of the India-Italy joint strategic action plan for 2025-29, which outlines a practical and forward-looking framework for their partnership.
With current trade levels standing at €14 billion, both leaders underscored the importance of reaching the €20 billion target by 2029. Meloni emphasized the critical role Italy and India play in promoting freedom of navigation in the Indo-Pacific and connecting this region with the Mediterranean through the India-Middle East-Europe Economic Corridor (IMEC). Modi reaffirmed India’s stance on resolving global crises through dialogue and diplomacy, particularly concerning Ukraine and West Asia.
The leaders agreed to establish a mechanism, headed by their foreign ministers, to review and provide strategic guidance for their partnership’s joint action plan. Their discussions also covered expanding collaboration across various sectors, including trade, defense, science, technology, energy, AI, and education. Modi noted the potential for cooperation in AI, quantum, space, and civil nuclear energy, announcing efforts to create an India-Italy Innovation Centre to link startups, research centers, and industries from both countries.
Additionally, they committed to increasing the mobility of students, researchers, and skilled workers, particularly in STEM fields, and enhancing skills development to meet labor market demands. A joint declaration of intent was also made to facilitate the mobility of Indian nurses to Italy, further solidifying the collaborative efforts between the two nations.