India and Italy have upgraded their relations to a special strategic partnership, pledging to expand two-way trade to €20 billion by 2029. Prime Minister Narendra Modi and Italian counterpart Giorgia Meloni held talks to strengthen cooperation and bolster the rules-based order amid conflicts and geopolitical turbulence.
The two leaders expressed concern over the conflicts in Ukraine and West Asia, emphasizing the need for de-escalation and diplomacy to ensure lasting peace. They also called for freedom of navigation and the resumption of shipping through the Strait of Hormuz.
Modi and Meloni agreed to leverage the India-European Union free trade agreement to be signed later this year. They emphasized the importance of increasing trade from the current level of €14 billion to €20 in 2029.
The two sides agreed to establish a mechanism to review the joint strategic action plan for 2025-29 and provide strategic guidance for the special strategic partnership. They also agreed to expand collaboration in trade and investment, defence and security, science and technology, innovation, space, energy, AI, critical technologies, education, and people-to-people ties.
