India and Italy have elevated their bilateral relationship to a special strategic partnership, aiming to boost their trade to €20 billion by 2029. This development followed discussions between Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni, focusing on enhancing cooperation to uphold a rules-based international order amidst ongoing global conflicts and geopolitical shifts.
During their talks, Modi and Meloni expressed concerns over the conflicts in Ukraine and West Asia, highlighting their global repercussions. They emphasized the necessity for de-escalation and diplomatic efforts to achieve lasting peace. Both leaders advocated for the freedom of navigation and the restoration of shipping activities through the Strait of Hormuz. Modi’s visit to Rome marks the final stop of a five-nation tour dedicated to strengthening India’s energy security and collaboration in key sectors such as defense, trade, and emerging technologies. Their discussions also touched on leveraging the upcoming India-European Union (EU) free trade agreement.
At a joint media briefing, Modi expressed his pleasure at the upgraded partnership, noting that the India-Italy joint strategic action plan for 2025-29 provides a comprehensive framework for future collaboration. Both leaders underscored the importance of increasing bilateral trade from its current €14 billion to €20 billion by 2029. Meloni highlighted the significance of India and Italy working jointly to promote navigation freedom in the Indo-Pacific region and connecting it with the Mediterranean via the India-Middle East-Europe Economic Corridor (IMEC).
The two nations have been in frequent communication regarding crises in Ukraine and West Asia, with Modi reiterating India’s stance on resolving issues through dialogue and diplomacy. Meloni stressed the need for durable and equitable peace in Ukraine and expressed optimism for continued peace talks addressing the Iran crisis. Furthermore, they agreed to establish a mechanism, led by foreign ministers, to review and provide guidance on the joint strategic action plan for 2025-29. They also committed to expanding cooperation across various sectors including trade, defense, science, technology, space, and education.
Modi emphasized that technology and innovation are pivotal to their partnership, with significant potential for collaboration in fields like AI, quantum technology, and civil nuclear energy. Plans for an India-Italy Innovation Centre aim to link startups and research centers from both countries. Additionally, they are enhancing cooperation between their defense industries and militaries, with a roadmap for defense co-development and co-production. Moreover, both sides agreed to facilitate the mobility of students, researchers, and skilled workers, particularly in STEM fields, and to align skills development with labor market demands, including facilitating the movement of Indian nurses to Italy.