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PM Modi announces 20 billion euro trade target with Italy by 2029, upgrades strategic partnership

PM Modi announces 20 billion euro trade target with Italy by 2029, upgrades strategic partnership

Prime Minister Modi announced a trade target of 20 billion euros with Italy by 2029 during his visit. Both nations upgraded their strategic partnership and pledged to fight terrorism together.

Prime Minister Narendra Modi concluded his five-nation tour with a landmark visit to Italy, announcing a bilateral trade target of 20 billion euros by 2029. The two nations upgraded their relationship to a special strategic partnership, reflecting the growing importance of India-Italy ties across defence, trade, and cultural domains.

The visit was part of a broader five-country tour that began in the UAE and included the Netherlands, Sweden, and Norway. All four European nations were elevated to strategic partnership status, while Italy received a special upgrade. An India-Nordic Summit also received enhanced strategic focus, signalling a comprehensive European engagement strategy.

Both leaders pledged to jointly combat terrorism and discussed the Middle East crisis, energy security, and the need to keep the Strait of Hormuz open for international shipping. Modi expressed concern over the humanitarian situation arising from the Iran conflict and emphasised India role as a responsible stakeholder in regional stability.

The Italian Prime Minister praised the partnership, using the Hindi word Parishram meaning hard work to describe the bilateral relationship. The visit also included agreements on Ayurveda promotion globally, defence industry cooperation, and connectivity projects linking India to Europe through the Middle East corridor.

Sources

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