From semiconductors to space, India-Italy unveil 5-yr strategic action plan

India and Italy have unveiled a five-year strategic action plan (2025-29) to deepen ties across ten key sectors, including defence, trade, clean energy, and connectivity. Prime Minister Narendra Modi met his Italian counterpart Giorgia Meloni on November 18, on the sidelines of the G20 summit in Rio de Janeiro.

“Our talks centred around deepening ties in defence, security, trade and technology. We also talked about how to boost cooperation in culture, education and other such areas,” Modi said in a post on X.

Modi and Meloni met for the fifth time in two years with their most recent meeting in June during the G7 summit in Puglia, Italy.

During their recent Rio meeting, the leaders emphasised joint production, industrial collaborations, and innovation as crucial to their partnership. The leaders underscored the importance of multilateral initiatives - the Global Biofuels Alliance and the India-Middle East-Europe Economic Corridor (IMEEC) - in this partnership.

India and Italy aim to increase bilateral trade and investment in high-potential sectors such as transportation, agriculture, chemicals, pharmaceuticals, green technologies, and sustainable mobility.

The bilateral trade between India and Italy totalled an all-time high of €14.28 billion in 2022-23, trade data from the Indian Embassy in Rome revealed. India’s exports to Italy have surged by 60.5% year-on-year to €10.06 billion, while imports from Italy grew 24.23% to €4.82 billion, resulting in a trade surplus of €5.24 billion in India’s favour — a trend ongoing since 1988.

The two nations will foster collaborative ventures through the Joint Commission for Economic Cooperation and the Italy-India Joint Working Group on Food Processing. Additionally, mutual investments in automotive, semiconductors, infrastructure, and advanced manufacturing will become focal points of the bilateral relations.

Efforts will also focus on maritime and land infrastructure, particularly under the IMEEC framework. Both countries plan to finalise an agreement on maritime and port sector cooperation, strengthening connectivity and trade routes.

Scholarships are expected to be increased to foster educational and research collaborations, particularly in STEM fields. An exchange programme called the Indo-Italian Innovation and Incubation Exchange Programme is also in the pipeline with a focus on leveraging academic expertise for innovation. Further, a 2025-27 Executive Programme for Scientific and Technological Cooperation will fund joint research and mobility projects.

The partnership between the Indian Space Research Organisation (ISRO) and the Italian Space Agency (ASI) will expand to include projects in Earth observation, heliophysics, and space exploration, with a special focus on lunar science.

The nations agreed that a Defence Industrial Roadmap and a memorandum between the Society of Indian Defence Manufacturers (SIDM) and the Italian Industries Federation for Aerospace, Defence, and Security (AIAD) would encourage further partnerships in the defence sector.