Context: Recently, India’s External Affairs Minister met Italy’s Deputy Prime Minister in New Delhi. They reviewed bilateral cooperation in a range of areas, including defence, trade and investment and energy. A collective resolve was taken to implement the Joint Strategic Action plan 2025-29 launched by the Indian Prime Minister and Italian Prime Minister in 2024.
Relevance of the Topic: Prelims: India-Italy: Bilateral relations.
India-Italy Joint Strategic Plan of Action (2025-29)
- Unveiled during the G20 Summit in Brazil in November 2024. It outlines a comprehensive roadmap for enhancing bilateral cooperation across multiple sectors.
- The plan reflects the shared vision to deepen strategic partnership and achieve tangible outcomes benefiting both nations.
Highlights of the Joint Strategic Action Plan
- Political Dialogue: Regular high-level meetings and reciprocal visits between Heads of Government. Annual bilateral consultations between foreign ministries to discuss mutual interests and deepen cooperation.
- Economic Cooperation: Strengthening trade and investment in sectors- green technologies, pharmaceuticals, food processing, agriculture, advanced manufacturing etc. Promoting industrial partnerships and mutual investments through platforms like the Joint Commission for Economic Cooperation.
- Connectivity: Collaboration on sustainable transport initiatives and maritime infrastructure development. Active participation in India-Middle East- Europe Economic Corridor (IMEEC) to enhance connectivity and trade.
- Science Tech and IT: Expanding cooperation in emerging technologies- Artificial Intelligence (AI), telecommunications, digital services, Industry 4.0, clean energy, and critical minerals. Launching initiatives like Indo-Italian Innovation and Incubation Exchange Program to foster academic and industrial collaboration.
- Space Sector: Strengthening collaboration between ISRO and Italian Space Agency (ASI) in areas like Earth observation, heliophysics, lunar exploration, and commercial space partnerships.
- Energy Transition: Joint efforts to promote renewable energy solutions, such as green hydrogen and biofuels. Supporting global initiatives like International Solar Alliance and Global Biofuels Alliance.
- Defence Cooperation: Co-production of military equipment and enhanced security collaboration to address regional challenges.
India-Italy Relations
- Trade between India and Italy has doubled in FY24 (from 2020) to 15 billion Euros.
- There are over 2 Lakh Indians living, working and studying in Italy (The highest in the EU).
- Italy has joined multilateral initiatives promoted by India like the Indian Ocean Rim Association (IORA), Coalition for Disaster Relief Infrastructure (CDRI), International Solar Alliance (ISA) etc.
- Italy is part of the Coffee Club and can support India’s candidature for the UNSC in future.