New Delhi [India], Italy, which has invited Prime Minister Narendra Modi for the G7 summit outreach session, is India's fourth largest trading partner in the EU, the 18th largest foreign investor with bilateral ties, which is ' Has been advanced to the level of 'strategic partnership'. Focus on defence, Indo-Pacific, energy and science and technology.
Italy is the chair of the G7 this year and is hosting the G7 summit on June 13 and 14. Italian Prime Minister Georgia Meloni has invited Prime Minister Modi for the G7 Outreach Summit in Puglia on June 14.
Both countries enjoy close and friendly relations as two modern and mature democracies, committed to achieving economic growth through the rule of law, respect for human rights and inclusive growth.Last year the countries celebrated 75 years of the establishment of diplomatic relations.
PM Modi visited Italy for the G20 summit in October 2021 and the Italian PM visited India on a state visit in March 2023 and was the chief guest at the Raisina Dialogue. She also came to India for the G20 summit.
During his visit, India-Italy bilateral relations were upgraded to the level of 'Strategic Partnership', focusing on Defence, Indo-Pacific, Energy and Science & Technology. Since the state visit of the Italian Prime Minister to India, both sides Several high-level talks have taken place between theSeveral Italian ministers visited India in 2023 for G20-related meetings and bilateral meetings, including the Italian ministers of foreign affairs and trade, finance, agriculture, education and culture. The Speaker and President of the Italian Senate and Chamber of Deputies attended the P20 meeting last year.
External Affairs Minister S Jaishankar, Union Defense Minister Rajnath Singh and Union Commerce and Industry Minister Piyush Goyal visited Italy last year in November, October and April respectively. In the virtual summit in November 2020, PM Modi and former PM Conte , the Action Plan 2020-2024 was adopted, which set out an ambitious agenda for an enhanced partnership between our countries in the key areas of economy, science and technology and people-to-people ties. Collaboration.Italy participates in major India-led global initiatives such as the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), Indo-Pacific Oceans Initiative (IPOI), Global Bio-Fuels Alliance (GBA) and India in the Middle East Europe. has joined. Economic Corridor (IMEC), reflects our growing convergence of views on important global issues.
In terms of economic engagement, bilateral trade in 2022-23 was estimated at US$ 15 billion, while exports were at US$ 8.691 billion, the highest ever. Both countries are developing promising sectors like food processing, textiles, design, manufacturing and financial services. Are focusing on.
Indian investment in Italy is estimated to be around US$ 400 million.Indian companies in Italy are mainly in the IT, pharma, electronics, manufacturing and engineering sectors. Major Indian companies in Italy are: Titagarh Industries, TCS, Mahindra, Ranbaxy, Bombay Rayon, ZydusCadila, Dr. Reddy's Laboratories, Aurobindo Pharma Italia, Himatsingkaside, Varoc Group, Endurance Technologies, Gammon, ABG Group, Aditya Birla, Raymond Zambaiti and Sun. Pharma.The top commodities exported from India to Italy are iron and steel, telecommunication equipment, petroleum products, iron and steel products, and auto components and parts.
The main items of import from Italy include industrial machinery for dairy, electric machinery and equipment, residual chemicals and allied products, miscellaneous engineering goods and machine tools.
Italy is the 18th largest foreign investor in India with cumulative FDI inflows of US$3.53 billion from January 2000 to December 2023. There are more than 700 Italian companies in India, employing approximately 60,000 people and having a total turnover of 9.7 billion euros., Major Italian companies operating in India include Ferrero, Fiat, CNH and Perfetti. Success stories include Ferrero in India and Indian investments in Italy such as Mahindra in Pininfarina and Titagarh in Firema Railways.
Italy is developing an "Italian Excellence Platform" in Gujarat that will offer technical training and skill building to workers in an area within the Phandihar "Mega Food Park" in the state. Italy has strength in design, innovation and technology.
Sources said there is a long-standing bilateral cooperation in the field of science and technology and there is immense potential in combining Italy's innovation and cutting-edge technologies with India's rich human resources and economic opportunities. Executive of Cooperation for the period 2022-24 Under the programme, India and Italy are jointly funding three networks of excellence in the areas of biomedical/health sciences and technologies applied to cultural and natural heritage; Eight projects for critical research and 13 mobility based projects.More than 125 joint projects have been implemented since 2005.
ISRO has launched five Italian satellites on commercial mode. India, along with Italy, has co-financed substantial funds for the construction of two sophisticated synchrotron facilities at Elettra, Trieste. It is being used extensively by Indian scientists on a global competitive basis and Indians are the second highest users of this facility after Italian researchers.
An MoU on defense cooperation was signed during the visit of Rajnath Singh to Italy in October, 2023. The Joint Defense Committee (JDC) and Military Cooperation Group (MCG) meetings at the Defense Secretary level were held in March, 2024.Italian Naval Ship (ITS Morosini) visited India in August, 2023.
The Indian Army had an important contribution in liberating Italian cities during the Second World War. About 50,000 Indian soldiers fought for the liberation of Italian cities like Florence, Marino, Cesana, Ferrara, Bologna and Monte-Cassino.
The Yashwant Ghadge Memorial was inaugurated at Montone to recognize the valor and sacrifice of Indian soldiers during the Italian campaign and was opened to the public in July, 2023. India is the second largest migrant to Italy in the EU after the Netherlands. The population is estimated to number two lakh, including Persons of Indian Origin (PIOs) and is the fifth largest foreign community in Italy.The Migration and Mobility Agreement was signed during Jaishankar's visit to Italy in October, 2023 and will ease the movement of people, especially skilled workforce and students and professionals as well as ensure safe and legal migration.
Many Italians have taken an active interest in Indian culture, music, dance, yoga and Ayurveda. Italy has a long-standing Indological tradition with many scholars engaged in the study of Indian languages (Tamil, Hindi and Sanskrit), history and culture. Take keen interest.
PM Modi had a telephone conversation with PM Meloni in April this year in which he greeted the people of Italy on the occasion of the 79th anniversary of the country's Liberation Day.
He thanked PM Meloni for inviting him to the G7 Summit Outreach Session to be held in Puglia, Italy.The leaders discussed taking forward the key outcomes of India's G20 Chairmanship, particularly supporting the Global South, at the G7 Summit chaired by Italy.
They reaffirmed their commitment to continue strengthening the bilateral strategic partnership.
The two leaders also exchanged views on regional and global developments of mutual interest.
Italy is the chair of the G7 this year and is hosting the G7 summit on June 13 and 14. Italian Prime Minister Georgia Meloni has invited Prime Minister Modi for the G7 Outreach Summit in Puglia on June 14.
Both countries enjoy close and friendly relations as two modern and mature democracies, committed to achieving economic growth through the rule of law, respect for human rights and inclusive growth.Last year the countries celebrated 75 years of the establishment of diplomatic relations.
PM Modi visited Italy for the G20 summit in October 2021 and the Italian PM visited India on a state visit in March 2023 and was the chief guest at the Raisina Dialogue. She also came to India for the G20 summit.
During his visit, India-Italy bilateral relations were upgraded to the level of 'Strategic Partnership', focusing on Defence, Indo-Pacific, Energy and Science & Technology. Since the state visit of the Italian Prime Minister to India, both sides Several high-level talks have taken place between theSeveral Italian ministers visited India in 2023 for G20-related meetings and bilateral meetings, including the Italian ministers of foreign affairs and trade, finance, agriculture, education and culture. The Speaker and President of the Italian Senate and Chamber of Deputies attended the P20 meeting last year.
External Affairs Minister S Jaishankar, Union Defense Minister Rajnath Singh and Union Commerce and Industry Minister Piyush Goyal visited Italy last year in November, October and April respectively. In the virtual summit in November 2020, PM Modi and former PM Conte , the Action Plan 2020-2024 was adopted, which set out an ambitious agenda for an enhanced partnership between our countries in the key areas of economy, science and technology and people-to-people ties. Collaboration.Italy participates in major India-led global initiatives such as the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), Indo-Pacific Oceans Initiative (IPOI), Global Bio-Fuels Alliance (GBA) and India in the Middle East Europe. has joined. Economic Corridor (IMEC), reflects our growing convergence of views on important global issues.
In terms of economic engagement, bilateral trade in 2022-23 was estimated at US$ 15 billion, while exports were at US$ 8.691 billion, the highest ever. Both countries are developing promising sectors like food processing, textiles, design, manufacturing and financial services. Are focusing on.
Indian investment in Italy is estimated to be around US$ 400 million.Indian companies in Italy are mainly in the IT, pharma, electronics, manufacturing and engineering sectors. Major Indian companies in Italy are: Titagarh Industries, TCS, Mahindra, Ranbaxy, Bombay Rayon, ZydusCadila, Dr. Reddy's Laboratories, Aurobindo Pharma Italia, Himatsingkaside, Varoc Group, Endurance Technologies, Gammon, ABG Group, Aditya Birla, Raymond Zambaiti and Sun. Pharma.The top commodities exported from India to Italy are iron and steel, telecommunication equipment, petroleum products, iron and steel products, and auto components and parts.
The main items of import from Italy include industrial machinery for dairy, electric machinery and equipment, residual chemicals and allied products, miscellaneous engineering goods and machine tools.
Italy is the 18th largest foreign investor in India with cumulative FDI inflows of US$3.53 billion from January 2000 to December 2023. There are more than 700 Italian companies in India, employing approximately 60,000 people and having a total turnover of 9.7 billion euros., Major Italian companies operating in India include Ferrero, Fiat, CNH and Perfetti. Success stories include Ferrero in India and Indian investments in Italy such as Mahindra in Pininfarina and Titagarh in Firema Railways.
Italy is developing an "Italian Excellence Platform" in Gujarat that will offer technical training and skill building to workers in an area within the Phandihar "Mega Food Park" in the state. Italy has strength in design, innovation and technology.
Sources said there is a long-standing bilateral cooperation in the field of science and technology and there is immense potential in combining Italy's innovation and cutting-edge technologies with India's rich human resources and economic opportunities. Executive of Cooperation for the period 2022-24 Under the programme, India and Italy are jointly funding three networks of excellence in the areas of biomedical/health sciences and technologies applied to cultural and natural heritage; Eight projects for critical research and 13 mobility based projects.More than 125 joint projects have been implemented since 2005.
ISRO has launched five Italian satellites on commercial mode. India, along with Italy, has co-financed substantial funds for the construction of two sophisticated synchrotron facilities at Elettra, Trieste. It is being used extensively by Indian scientists on a global competitive basis and Indians are the second highest users of this facility after Italian researchers.
An MoU on defense cooperation was signed during the visit of Rajnath Singh to Italy in October, 2023. The Joint Defense Committee (JDC) and Military Cooperation Group (MCG) meetings at the Defense Secretary level were held in March, 2024.Italian Naval Ship (ITS Morosini) visited India in August, 2023.
The Indian Army had an important contribution in liberating Italian cities during the Second World War. About 50,000 Indian soldiers fought for the liberation of Italian cities like Florence, Marino, Cesana, Ferrara, Bologna and Monte-Cassino.
The Yashwant Ghadge Memorial was inaugurated at Montone to recognize the valor and sacrifice of Indian soldiers during the Italian campaign and was opened to the public in July, 2023. India is the second largest migrant to Italy in the EU after the Netherlands. The population is estimated to number two lakh, including Persons of Indian Origin (PIOs) and is the fifth largest foreign community in Italy.The Migration and Mobility Agreement was signed during Jaishankar's visit to Italy in October, 2023 and will ease the movement of people, especially skilled workforce and students and professionals as well as ensure safe and legal migration.
Many Italians have taken an active interest in Indian culture, music, dance, yoga and Ayurveda. Italy has a long-standing Indological tradition with many scholars engaged in the study of Indian languages (Tamil, Hindi and Sanskrit), history and culture. Take keen interest.
PM Modi had a telephone conversation with PM Meloni in April this year in which he greeted the people of Italy on the occasion of the 79th anniversary of the country's Liberation Day.
He thanked PM Meloni for inviting him to the G7 Summit Outreach Session to be held in Puglia, Italy.The leaders discussed taking forward the key outcomes of India's G20 Chairmanship, particularly supporting the Global South, at the G7 Summit chaired by Italy.
They reaffirmed their commitment to continue strengthening the bilateral strategic partnership.
The two leaders also exchanged views on regional and global developments of mutual interest.
