ITALY-INDIA JOINT STRATEGIC ACTION PLAN 2025-2029

Last Updated on 20th November, 2024
5 minutes, 7 seconds

Description

Copyright infringement not intended

Picture Courtesy: https://www.pmindia.gov.in/en/news_updates/italy-india-joint-strategic-action-plan-2025-2029/

Context:

The Prime Minister of India and the Prime Minister of Italy have agreed on an India-Italy Joint Strategic Action Plan 2025-2029.

India-Italy Relations

Diplomatic relations between India and Italy were established in 1947.

Italy is India’s 4th largest trading partner in the EU after Germany, Belgium and Netherlands. 

Bilateral trade in 2022-23 crossed US$ 14.253 billion. 

Italy ranks 17th in terms of FDI inflows into India during April 2000 to March 2023.

Around 600 Italian companies are present in India, working in sectors such as fashion and garments, textiles and textile machinery, automotive and automotive components, infrastructure, chemicals, energy, confectionery, insurance, etc.

According to official Italian data (2019), there are 1.62 lakhs legal Indian migrants accounting for 4.4% of the non-EU citizens and 5th largest foreign community in Italy.

India-Italy Joint Strategic Action Plan 2025-2029

 India-Italy outlined specific, time-bound initiatives for increased cooperation in a Joint Strategic Action Plan for 2025-2029. It was discussed during the meeting of the Indian Prime Minister and Italian Prime Minister at the G20 Summit in Rio de Janeiro, Brazil. 

 Key Areas of the India-Italy Joint Strategic Action Plan 2025-2029

Political Dialogue

  • Hold regular meetings and exchange visits between heads of government and ministers of foreign affairs, trade, and defence.
  • Yearly bilateral consultations at the Senior Officials level.

Economic Cooperation and Investments

  • Use the Joint Commission for Economic Cooperation and the Italy-India Joint Working Group on Food Processing to boost bilateral trade and investment in sectors such as transportation, food processing, green technologies, and sustainable mobility.
  • Encourage participation in trade shows, business forums, and industrial partnerships, as well as technological collaboration in sectors such as automotive, semiconductors, and infrastructure.

Connectivity

  • Work together on sustainable transportation initiatives and strengthen cooperation in maritime and land infrastructure, mainly through the India-Middle East-Europe Economic Corridor (IMEEC).

Science, Technology, IT, Innovation, and Start-ups

  • Strengthen cooperation in critical technologies such as telecommunications, artificial intelligence, and service digitization.
  • Encourage collaboration among academia, industries, and start-ups in areas such as Industry 4.0, advanced manufacturing, clean energy, and critical mineral extraction.
  • An Indo-Italian Innovation and Incubation Exchange Programme will be launched to promote scientific innovation and research collaborations.

Space Sector

  • The Indian Space Research Organisation (ISRO) and the Italian Space Agency (ASI) will strengthen their collaboration on Earth observation, heliophysics, and lunar science.
  • Look into potential commercial space collaborations involving large industries and MSMEs.


Energy Transition

  • Hold "Tech Summits" to exchange best practices and advance technological collaborations in green hydrogen, biofuels, renewable energy, and energy efficiency.
  • Strengthen the Global Biofuels Alliance and the International Solar Alliance while also sharing innovative grid development solutions.

Defence Cooperation

  • Regular Joint Defence Consultative meetings and Joint Staff Talks will be held to improve interoperability.
  • Look into partnerships in defense technology, co-production, and maritime cooperation, such as pollution response and search and rescue missions.

Security Cooperation

  • Increase security cooperation in areas such as cybersecurity, counterterrorism, and transnational crime.
  • Yearly Joint Working Group meetings to share best practices for combating terrorism, as well as mutual protection of classified information.

Migration and Mobility

  • Collaborate to promote safe migration channels and fair labor recruitment, with a pilot project in India to train health professionals.
  • Improve academic and research mobility, particularly student and researcher exchanges.

Culture, Academic and People-to-People Exchanges

  • Universities and higher education institutions in both countries will collaborate more closely.
  • Promote cultural exchanges such as exhibitions and film co-productions.
  • Prioritize the preservation and restoration of heritage sites, as well as increasing tourist flows between them.

Must Read Articles: 

INDIA-ITALY RELATIONS

Source: 

PIB

PRACTICE QUESTION

Q.Critically analyze the significance of the India-Italy Joint Strategic Action Plan 2025-2029. (150 words)

Free access to e-paper and WhatsApp updates

Let's Get In Touch!