Prime Minister Narendra Modi's visit to Rome marks a crucial milestone in India-Italy relations, with both nations signing a joint strategic action plan for 2024-2029 and setting an ambitious target of €20 billion in bilateral trade, reflecting the deepening economic and strategic ties between the two countries.
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PM Narendra Modi Accorded Grand Military Welcome in Rome | PM Modi In Italy | MeloniAdded:
You can see on your screens right now, viewers, the Prime Minister of India being welcomed by the Italian Prime Minister Giorgia Meloni on his arrival in Rome. The visuals of the two heads of state meeting in Italy, the visit of the Prime Minister.
>> [music] [music] >> All right, you can see that on your screens, viewers. The Prime Minister of India getting the guard of honor welcome as he's being welcomed to Rome by the Italian Prime Minister. Remember, Prime Minister Narendra Modi is set to >> [music] >> Viewers there on your screens is the guard of honor welcome that Prime Minister Narendra Modi got the joint guard of honor from all the Prime Minister at Italy. Remember, Prime Minister Modi had landed in Italy yesterday evening. And he had met with the Italian Prime Minister. He had also visited the Colosseum uh yesterday evening. And today is the very very crucial bilateral meeting between the two Prime Ministers. The PM has also met the Italian President.
Uh during this tour. Remember, this is the last leg of his five-nation tour.
Where which is expected to be a very very crucial step for India-Italy relationship. He was also welcomed by the Indian diaspora. He also interacted with the Indian community members and enjoyed a cultural performance last evening. Today, of course, is the more serious visit day. This is when the [music] bilateral talks are expected to happen. He's a The Prime Minister is expected to meet with the Italian President Sergio Mattarella. He's also expected to visit the headquarters of the United Nations Food and Agriculture Organization. He's also expected to hold be participate in that very crucial bilateral meeting. Pranay Upadhyay is joining me on this story. Pranay, a very very important day for the bilateral talks that are expected to begin at any point of time now.
What more can you tell us about the expectations from this visit?
There are great expectations as far as development especially to Italy as well because Italy is the fourth largest trading destination for India as far as Indian exports in Europe are concerned.
Besides that, you know, you can see visual how our Prime Minister is being received in Italy. How Prime Minister Giorgia Meloni has given him a tour of the Colosseum. How these two leaders are bonding. And these are not This is not about the pictures only.
This is about the substantive aspect of this relationship.
Because because in in last two years exports to to Europe especially to Italy have grown up by by 19% almost almost 20%. And in fact, the remittances money the foreign exchange coming from Italy in the form of remittances has grown up almost 32% in last two years. So, this clearly shows that Italy is opening up to Indian manpower. People are you know in more number of Indian professionals are traveling to Italy. Almost 6,000 Indian students are there in various universities of Italy. And from defense collaboration to agriculture to space to science and technology to to you know cyber security artificial intelligence. These are the emerging areas in which both Italy and India are trying to collaborate. Automobile and textile are also important areas [music] where both Italy and India want to collaborate and make their strategic partnership further. And both India and Italy are exploring the possibility of joint you know joint research co-development and co-manufacturing of the defense equipment. This clearly shows that there is a there is a level of there is a degree of confidence in each other. And in fact, both countries have said they have signed in 2024 a joint strategic action plan for till 2029. And in fact, both countries have set an ambitious target of you know taking their bilateral trade to 20 20 billion euro.
So, this is a very ambitious target, but the both countries are hopeful with the with the growing numbers of the bilateral trade the number of you know the Italian companies exploring Indian market and the way you know Indian companies are also also investing in Italy. This this bilateral trade figure is quite achievable.
All right. Thank you very much for that Pranay Upadhyay.
Uh we are still of course staying on this very story because as Pranay was just saying, this is going to be very very crucial. Pranay going to tell us a little more about I beg your pardon, we seem to have lost the connection with Pranay Upadhyay right there. We will be uh But this viewers is a very important day as far as India-Italy ties are concerned. As my colleague Pranay Upadhyay was just talking about, India and Italy are establishing larger ties when it comes to trade, when it comes to economy, and this is going to be this meeting is going to be very very crucial for the development of this strategic partnership that was established initially in 2023.
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