'Over 800 Italian Companies in India...': PM Modi Announces Upgradation of India-Italy Ties to Special Strategic Partnership
Emphasizing economic collaboration, PM Modi said that trade between the two countries is progressing towards a 20 billion euros target.
Rome, Italy: Prime Minister Narendra Modi on Wednesday announced the elevation of bilateral relations with Italy to a Special Strategic Partnership, marking a significant milestone in ties between the two nations during his meeting with Italian Prime Minister Giorgia Meloni in Rome.
“I am happy to announce that we are upgrading India-Italy relationship to Special Strategic Partnership,” PM Modi said at the joint press statement in Rome. He highlighted the India-Italy Joint Strategic Action Plan 2025-2029, describing it as a “practical and futuristic structure” to the partnership that both sides are advancing in a time-bound manner.
Emphasizing economic collaboration, PM Modi noted that trade between the two countries is progressing towards a 20 billion euros target. “Over 800 Italian companies in India are contributing to India's growth story,” he added, underscoring the strong presence of Italian businesses supporting India’s development across key sectors.
Italian Prime Minister Giorgia Meloni welcomed the upgrade, stating that the two countries are now “closer than they have ever been” and that their relations have reached “the highest ever” level.
“Today, here in Rome, we are further strengthening our relations all the way up to the special strategic partnership... Our relations are now capable of expressing their fullest potential,” Meloni said. She credited the deepening ties to seven meetings with PM Modi over the past three and a half years, which have built “an honest friendship based on respect and mutual trust.”
Both leaders expressed ambition to boost trade from the current approximately 14 billion euros to 20 billion euros by 2029. Meloni pointed to the potential of the EU-India Free Trade Agreement and the complementary nature of the two economies in achieving this goal. She also highlighted the Innovate India Initiative, which will establish a centre in New Delhi to promote collaboration between startups, universities, research institutes, and enterprises of both nations.
In the defence domain, PM Modi announced progress through the Defence Industrial Roadmap aimed at co-development and co-production. As maritime powers, the two countries will enhance cooperation in connectivity, shipping, ports modernisation, logistics, and the blue economy.
The leaders identified multiple sectors for enhanced collaboration, including advanced manufacturing, infrastructure, energy, space economy, critical minerals, agro-industry, maritime transportation, tourism, and culture. Several MoUs are expected to be signed to deepen cooperation in these areas.
On global security, PM Modi and PM Meloni agreed that terrorism remains a serious challenge to humanity. PM Modi highlighted their joint initiatives against terror financing as a model for responsible democracies. The two Prime Ministers also exchanged views on international issues, including the situations in Ukraine and Iran, with hopes for lasting peace, as well as the importance of freedom of navigation and a free, open, and inclusive Indo-Pacific.
In a significant cultural initiative, the leaders decided to launch the Italy-India Year of Culture and Tourism in 2027 to foster deeper people-to-people connections between the two ancient civilizations.
The meeting in Rome reflects the growing convergence between India and Italy across strategic, economic, defence, and cultural domains, setting a robust roadmap for the coming years.
Published By : Ankita Paul
Published On: 20 May 2026 at 19:14 IST