Prime Minister Narendra Modi on Wednesday said India and Italy will work towards building a new model of global cooperation based on joint innovation and production as both countries seek to deepen economic and strategic engagement.
Addressing a joint press conference with Italian Prime Minister Giorgia Meloni in Rome, PM Modi said bilateral ties are entering a new phase of structured and time-bound cooperation under the India-Italy Joint Strategic Action Plan 2025–2029.
He said the action plan offers a “practical and futuristic framework” for the partnership and added that both countries are committed to implementing it in a time-bound manner.
Highlighting growing economic engagement, the Prime Minister said bilateral trade between India and Italy is rapidly moving towards the target of 20 billion euros.
“In today’s meeting, we discussed in detail how to further strengthen our future partnership. The India-Italy Joint Strategic Action Plan 2025 to 2029 provides a practical and futuristic framework for our partnership,” PM Modi said.
The Prime Minister noted that more than 800 Italian companies operating in India are contributing to the country’s growth while benefiting from India’s expanding market and innovation ecosystem.
He said the India-Italy Business Forum reflected “new enthusiasm, confidence and ambition” among business leaders from both nations, particularly in emerging sectors.
Referring to future industrial and technological collaboration, PM Modi said Italy is globally recognised for design and precision, while India is known for scale, talent and affordable innovation.
“Therefore, we will move forward on the principle of ‘Design and Develop in India and Italy and Deliver for the World’,” he said.
PM Modi said the two countries would strengthen cooperation across sectors including fashion, fintech, leather, logistics, mobility and manufacturing with a focus on serving global markets.
He also thanked Italy for supporting efforts towards concluding the India-European Union Free Trade Agreement and said both sides would work towards its early implementation to benefit businesses and strengthen economic ties.
Earlier in the day, PM Modi was accorded a ceremonial Guard of Honour in Rome and also held delegation-level talks with Prime Minister Meloni.
The visit marks the final leg of the Prime Minister’s five-nation tour, which included engagements in Norway, Sweden, Netherlands and the United Arab Emirates.
-ANI
