India and Italy are holding a prime ministerial-level virtual meet today between PM Narendra Modi and his Italian counterpart Giuseppe Conte.
During the meet, the two leaders will be conducting a comprehensive review of the broad framework of the bilateral relationship and will exchange views on major regional and global issues of mutual concern, the Ministry of External Affairs said.
The leaders discussed a wide range of issues including political, economic, scientific & technological, space and defence cooperation.
It added that a number of Memorandum of Understanding (MoUs)/Agreements in the field of trade, environment, media, film making, investments, fishseries,ship building, Naval ammunition etc. are expected to be signed at the virtual summit.
“Both countries share a warm and multifaceted relationship based on strong historical ties, common democratic traditions, rule of law and a shared goal of international peace and stability. India views Italy as an important member of the EU and values its positive contribution in furthering India-EU ties,” the Ministry of External Affairs said in a press release.
In the past also Italian firm Fincantieri Enhanced in partnership of cochin shipyard limited of India to build and design many Indian Navy ships, like INS Deepak and INS Shakti and Research vehicle ‘Sagar Nidhi’ for National institute of ocean technology.
The design and integration unit’s engine system and supply of complementary services of INS Vikrant India’s first aircraft carrier is done in joint venture with Italian firm Fincantieri.
The understanding laid down cooperation principles in design, procurement and local construction of new vessels for Indian Navy and Coast Guards and also in ship repairing, Naval ammunition, Construction of shipyard upgradation process, and small things like propulsion propeller, Shaft line, stabilization and steering systems, thrusters,
The Italian Marines case was a major break in the ever-growing bilateral relations between India and Italy. However, following the Arbitral Tribunal verdict, Italy wants to build robust economic relations on the foundation of political relationship. Besides, after Brexit, Italy is the third largest economy in the European Union.
India would like to encash the country’s robust manufacturing, technological and design capabilities. PM Narendra Modi is likely to push for strong partnership in ‘Make in India’ and ‘Atmanirbhar Bharat’ projects.
From January 1, India will be part of a G-20 Troika along with Italy and Saudi Arabia. India and Italy will be part of the Troika for two years — 2021 and 2022 — when India takes over as the G-20 chair.
