New Delhi: Today there will be a digital summit between India and Italy. Under this conference, agreements such as promoting cooperation in commerce, investment and environment will be signed between the two countries. A digital summit will be held on Friday between PM Narendra Modi and his Italian counterpart Guisepp Conte.
The Ministry of External Affairs said that the bilateral summit would give both big leaders an opportunity to comprehensively review and outline the relationship. Also, the two leaders will share their views on major regional and global issues.
Let me tell you that Italy is the fifth largest trading partner of India in the European Union and both sides are keen to increase economic cooperation in many areas. Bilateral trade between both India and Italy was 9.52 billion euros in 2019.
These relations are based on historical relations, common democratic traditions, rule-based arrangements and targeted thinking towards international peace. India considers Italy an important member country of the European Union and acknowledges its positive contribution to India-EU relations.
About 600 large Italian companies are currently active in various sectors in India. Which cover various fields such as fashion and textiles, textile and textile machinery, automotive components, infrastructure, chemicals, energy confectionery, insurance and more. Many Indian companies are also active in Italy.
Official sources have informed that the agreement to increase cooperation in commerce, environment, media, film production, investment and fisheries between the two countries is expected to be signed during the summit. He said that there is also hope for progress in commerce and investment agreements between Italy, India and the European Union.
Several government-to-government and private sector agreements and MoUs are under finalization and will be concluded on this occasion.
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