Italian Space Agency-ISRO to strengthen the partnership
President of the Council of Ministers of the Italian Republic, Giorgia Meloni and Prime Minister Narendra Modi have reaffirmed the shared objective of expanding bilateral trade in both direction with aim to reach to Euro20 billion by 2029, especially supported by the EU–India Free Trade Agreement.
Both the leaders agreed to encourage dialogue and cooperation among stock exchanges, investment funds, venture capital, banks, insurance companies and financial institutions, said the Prime Minister’s Office on 20 May after PM Modi had visited Italy on 19-20 May 2026.
The two leaders decided to elevate India-Italy relations to the level of a Special Strategic Partnership.
Both leaders expressed satisfaction at the growing dynamism of bilateral economic and industrial cooperation, with three high level business fora held since the last year. Building on the opportunities arising from India’s rapid and consistent economic growth and the successful conclusion of the negotiations for.
They welcomed the increase of bilateral investments in key sectors and encouraged the respective industries to forge industrial and technology partnerships in order to build resilient supply chains. They welcomed the prospect of greater investments, particularly in textiles, clean technologies, semiconductors, automotive, energy, tourism, pharmaceuticals and medical technologies, digital technologies, critical raw materials, steel, ports and infrastructure. They encouraged industries to utilize the policy incentives and schemes in place in both countries which seek to enhance business linkages and production facilities.
They agreed to facilitate industrial partnerships, including between SMEs, to foster deeper integration of supply chains. They encouraged new sectoral missions in the coming months in priority areas of mutual interest.
The two leaders welcomed the signing of the Memorandum of Understanding for cooperation in Critical Minerals. They agreed to further strengthen and expand bilateral cooperation in field of critical minerals by establishing a structured framework for collaboration, with particular emphasis on sustainability and resilient supply chains. They underscored the importance of promoting joint efforts in recovery of critical minerals from unconventional sources, including electronic waste and mine tailings, as an integral component of circular economy initiatives. They also expressed satisfaction on signing of the Memorandum of Understanding for cooperation in the field of agriculture and agricultural research between respective ministries and institutions.
The leaders agreed to establish Foreign Ministers-led mechanism to review the India-Italy Joint Strategic Action Plan 2025-29 and provide strategic guidance to India-Italy Special Strategic Partnership.
The two Prime Ministers reaffirmed their commitment to cooperate on the India-Middle East-Europe Economic Corridor (IMEC), recognising its transformational potential in reshaping and promoting global trade, connectivity and prosperity. Appreciating the preliminary discussions around the project, they encouraged the first IMEC Ministerial meeting to take concrete steps for advancing this initiative in 2026.
They welcomed the signing of an MoU on maritime transport and ports and directed their respective ministries/departments to establish a joint working group to implement the MoU at the earliest.
The two Prime Ministers reaffirmed that innovation, science and technology are core drivers of the India-Italy partnership.
They announced the creation of INNOVIT India, an innovation hub located in India aimed at strengthening cooperation between the respective innovation ecosystems, support startup acceleration programs, market access and business matching, joint research, university collaboration, and talent mobility in sectors including fintech, healthcare, semiconductors, logistics and supply chains, agritech, energy, quantum computing, and artificial intelligence.
Both leaders welcomed the inaugural Science and Innovation Dialogue between Indian and Italian universities and research centres held in Delhi in April 2025 and look forward to holding its next edition in Italy later this year.
Both leaders underlined the importance of an open, free, secure, stable, accessible and peaceful ICT environment, which is an enabler for innovation and economic growth.
The leaders placed particular emphasis on opportunities for cooperation in the field of supercomputing.
Building on the 2025–2027 Executive Program for Scientific Cooperation, they supported the implementation of joint projects and the facilitation of mobility of researchers in area of quantum technologies, renewable energy, green hydrogen and sustainable blue economy. They also welcomed the ongoing implementation of the Memorandum of Understanding for cooperation in the field of scientific research and the launching of a joint call for proposals to fund research projects.
The two leaders acknowledged the longstanding scientific collaboration between the Indian Academia and the International Centre for Theoretical Physics (ICTP) in Trieste and welcomed the signing of a Letter of Intent between the Indian Department of Science and Technology and the Elettra Sincrotrone center in Trieste, Italy in support of activities related to the access of synchrotron radiation facility at Elettra for Indian researchers.
While appreciating the ongoing collaboration between Italian Space Agency and the Indian Space Research Organisation, the two leaders agreed to strengthen the partnership on Earth observation, heliophysics and space exploration, with focused thematic engagement and to explore cooperation on access to space and protection of space infrastructures. They expressed satisfaction with the recent reciprocal visits of their respective space industry delegations and looked forward to further promote commercial collaboration through exchanges of experts and joint initiatives also in third countries.
Both leaders expressed satisfaction with the deepening of defence cooperation including through Ministerial exchanges, service-to-service ties, port visits, and welcomed the adoption of a Joint Declaration of Intent and a Defence Industrial Roadmap which will promote partnerships for technological cooperation, co-production and co-development projects, including helicopters, naval platforms, marine armament and electronic warfare. They also recognized the importance of protecting critical infrastructures and their related supply chains through the strengthening of industrial resilience.
The two sides agreed to examine the feasibility of establishing an annual high level military structured dialogue, complementing the work of the Joint Defence Committee and the Military Cooperation Group, and to promote joint exercises and inter-force courses.
Both leaders agreed to launch a Dialogue on Maritime Security, with the aim of increasing maritime security cooperation, coordination, and the exchange of information and best practices in the maritime domain.
The two leaders strongly condemned terrorism and violent extremism in all its forms and manifestations, including cross border terrorism. The two leaders strongly condemned the April 2025 Pahalgam terror attack and reiterated their commitment to cooperate in the fight against terrorists and terrorist groups and their affiliates including those listed in the UN Security Council 1267 Sanctions regime. They called upon all countries to continue to work towards eliminating terrorist safe havens and infrastructure, disrupting terrorist networks and combating the financing of terrorism, consistent with the Financial Action Task Force’s guidelines. Both leaders reiterated their commitment to work together at the UN, FATF and other multilateral platforms.
Both leaders welcomed the first meeting of the Permanent Task Force between India and Italy on countering the financing of terrorism and the upcoming meeting of the Joint Working Group on Counter Terrorism.
Both leaders welcomed the conclusion of an MoU between the Italian Guardia di Finanza and the Directorate of Enforcement of India and looked forward to early conclusion of the Agreement on Exchange and Mutual Protection of Classified Information and the Agreement on strengthening of Police Cooperation. They also welcomed the ongoing discussions on other agreements including Extradition Treaty and Mutual Legal Assistance Treaty.
The two leaders agreed to enhance mobility of students, researchers and skilled workers, particularly in STEM sectors, and to expand cooperation on skills development, in line with the needs of the labour market, including through a specific Joint Declaration of Intent on the facilitation of mobility of nurses from India to Italy. In this context, they welcomed the ongoing discussions between relevant agencies on Social Security Agreement (SSA).
They welcomed the launch of “ICI – Italy Calls India: a University-Enterprise talent bridge” aimed at enhancing the talent of Indian students enrolled in Italian universities by offering concrete pathways for guidance, matching, and qualified integration into Italian enterprises.
They also discussed the possibility of strengthening the cooperation to fight against irregular migration, labour exploitation and human trafficking to ensure safe and legal migration.
Noting the impressive growth and deepening of India-Italy Special Strategic Partnership, the two leaders reaffirmed their commitment to further expand cooperation across all sectors and continue close high-level consultations on key global and regional developments. Fiinews.com
