PM to hold bilateral talks with Italian counterpart at G7 Summit

New Delhi, June 12: The Prime Minister is set to hold a bilateral meeting with Italian Prime Minister Georgia Meloni during the G7 Summit, scheduled for June 13-14.

This year, Italy holds the G7 chair and is hosting the summit in Puglia on June 14, where PM Meloni has invited the Prime Minister to the G7 Outreach Summit.

Their previous encounters include a meeting at the G20 Summit in Bali in November 2022, followed by PM Meloni’s state visit to Delhi in March 2023. She also participated in the G20 Summit in Delhi in September 2023 and the virtual G20 Leaders’ Summit in November 2023. The two leaders met again on the sidelines of COP 28 in Abu Dhabi in November 2023, and most recently, they had a phone call on April 25.

Strengthening Bilateral Relations

The relationship between India and Italy is characterised by historic ties and mutual commitment to democracy, rule of law, human rights, and inclusive economic growth. Celebrating 75 years of diplomatic relations in 2023, both nations have elevated their bilateral relations to a “Strategic Partnership” focusing on defence, the Indo-Pacific region, energy, and science and technology.

Several high-level interactions have occurred since PM Meloni’s state visit to India. Italian ministers visited India in 2023 for G20-related meetings, including the Foreign Affairs, Finance, Agriculture, Education, and Culture Ministers. Additionally, the Speaker and President of the Italian Senate and Chamber of Deputies attended the P20 meeting in India.

Defence and Security Cooperation

A Memorandum of Understanding on defence Cooperation was signed in October 2023, followed by the Joint Defence Committee meeting and the Military Cooperation Group meeting in March 2024. The Italian Navy Ship (ITS Morosini) visited India in August 2023. The significant contribution of Indian soldiers in liberating Italian cities during World War II is commemorated through the Yashwant Ghadge Memorial in Montone, opened to the public in July 2023.

Economic Engagement

Trade between India and Italy reached $15 billion in 2022-23, making Italy the fourth-largest trading partner in the EU. Key sectors include food processing, textiles, design, manufacturing, and financial services. Indian investments in Italy are around $400 million, with companies like Titagarh Industries, TCS, Mahindra, and Ranbaxy operating there.

Top Indian exports to Italy include iron and steel, telecom instruments, and petroleum products, while major imports from Italy are industrial machinery, electric machinery, and machine tools. Italy is the 18th largest foreign investor in India, with more than 700 Italian companies operating in the country, employing about 60,000 people, and generating a turnover of 9.7 billion euros. Notable Italian firms in India include Ferrero, Fiat, and CNH.

Science and Technology Collaboration

India and Italy have a long-standing collaboration in science and technology. The Executive Programme of Cooperation for 2022-24 includes funding for three Networks of Excellence and multiple research and mobility projects. Since 2005, over 125 joint projects have been executed. ISRO has launched five Italian satellites, and India has co-funded the construction of two sophisticated Synchrotron facilities in Italy, extensively used by Indian scientists.

People-to-People Contact

India has the second-largest diaspora in the EU residing in Italy, with around 200,000 people, including Persons of Indian Origin. The Migration and Mobility Agreement signed in October 2023 will facilitate the movement of skilled workers, students, and professionals. Italian interest in Indian culture, music, dance, yoga, and Ayurveda remains strong, with a rich tradition of Indological studies in Italian academia.

This series of high-level engagements and collaborative efforts underscores the growing partnership between India and Italy, reinforcing their shared values and mutual interests on the global stage.