On Tuesday, India and Italy unveiled an ambitious five-year "Joint Strategic Action Plan 2025-2029," which focuses on collaboration in key areas such as space, science and technology, research, defense, and expanding economic ties.

The Ministry of External Affairs (MEA) stated that the plan was revealed following a meeting between Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni during the G20 Summit in Rio de Janeiro, Brazil, on Monday.

The two decided to give further impetus through focused, time-bound initiatives and a joint strategic action plan, the MEA said.

The plan, which runs from 2025 to 2029, focuses on ten areas. These include economic ties, clean energy, defence, and easier movement of people between the two nations. India and Italy also plan to work together on global issues like climate change and supporting democratic values.

India and Italy enjoy a good relationship in terms of trade. Italy is India's 4th largest trading partner in the EU after Germany, Belgium and Netherlands. Bilateral trade in 2022-23 crossed US$ 14.253 billion with India's exports at US$ 8.691 billion.

 Key Objectives of the Joint Action Plan

The focus would be on transportation, agricultural products and machinery, chemical-pharmaceuticals, wood and furniture, critical and emerging technologies, food processing, packaging and cold chain, green technologies and sustainable mobility, including through co-development, co-production and joint ventures, the MEA said.

The plan also mentioned fostering cooperation on sustainable transport in the context of environment sustainability and climate change.

The next target would be industrial partnership, technological centres in automotive, semi-conductors, infrastructure and advanced manufacturing. It also aims to foster interaction between start-ups and the relevant innovation ecosystems of the two countries, for instance, fintech, edutech, health care, logistics and supply chain, agritech, chip design and green energy.

Furthermore, the plan also mentions collaboration in the space sector. The two countries plan to expand cooperation between the Italian Space Agency and the Indian Space Research Organisation to include projects of common interest in Earth observation, helio-physics and space exploration with emphasis on lunar science. Mutual commercial space collaboration, involving large industries is also lined up.

By mid-2025, Italian delegation of representatives of the space industry will visit India, with a focus on research, space exploration and commercial collaboration. Its focus would be on technology collaboration, co-production and co-development between respective defence platforms and equipment, the MEA said in a statement.

India is also looking to promote safe and legal migration channels, as well as fair and transparent labour training and recruitment procedures. A pilot project will cover training of health professionals in India and their subsequent employment in Italy.

Future Implications

The "Joint Strategic Action Plan 2025-2029" marks a significant milestone in strengthening India-Italy relations. Expanded trade and industrial partnerships can stimulate job creation, investment flows, and sustainable economic growth for both nations. Collaborating on technology, economic, and defence sectors could position India and Italy as significant allies, deepening trust and collaboration.