Leaders eye €20 billion trade target by 2029, deeper cooperation on IMEC, defence, clean energy and AI during final leg of PM’s five-nation tour
Prime Minister Narendra Modi’s visit to Rome has marked a significant upgrade in India-Italy bilateral relations, with both nations agreeing to elevate their partnership to a “Special Strategic Partnership.” The move comes as the two leaders reviewed the India-Italy Joint Strategic Action Plan 2025-2029 and identified new areas of cooperation amid shifting global dynamics.
During his meetings with Italian Prime Minister Giorgia Meloni and President Sergio Mattarella, Modi emphasised the need to strengthen economic and strategic linkages. The visit, the final stop of his five-nation tour, has already yielded commitments to boost bilateral trade to €20 billion by 2029, up from current levels. Annual summits at the heads-of-government level are also expected to become a regular feature.
Focus on IMEC and Strategic Connectivity
A major highlight of the discussions was the India-Middle East-Europe Economic Corridor (IMEC). Both sides see Italy as a key European gateway for the ambitious project, which aims to enhance trade, energy, and digital connectivity between India, the Gulf, and Europe. Italian officials noted that the corridor aligns perfectly with Italy’s interests in the Mediterranean and its role as a logistics hub.
Defence and security cooperation also featured prominently. The two countries are exploring deeper collaboration in naval exercises, technology transfers, and joint production under the “Make in India” initiative. Italy’s advanced capabilities in shipbuilding and aerospace complement India’s growing defence manufacturing ecosystem.
Clean Energy, AI and Critical Minerals
Clean energy emerged as another priority area. With Italy’s expertise in renewables and India’s ambitious green hydrogen and solar targets, the leaders discussed joint projects and technology partnerships. Cooperation in artificial intelligence, space, and critical minerals was also highlighted, reflecting the shared interest in securing resilient supply chains for future technologies.
Education and people-to-people ties received fresh impetus. Plans for enhanced student exchanges, academic collaborations, and a possible “Year of India-Italy Culture and Tourism” in 2027 were discussed. The Indian diaspora in Italy, which has grown steadily, was acknowledged as a vital bridge between the two societies.
Economic and Strategic Significance
The upgrade comes at a time when both nations are recalibrating their foreign policies. For India, deepening ties with European partners like Italy strengthens its position in the Indo-Pacific and diversifies partnerships beyond traditional allies. For Italy, closer engagement with the world’s fastest-growing major economy offers new avenues for trade and investment, especially in infrastructure, manufacturing, and technology.
Analysts view the “Special Strategic Partnership” as more than symbolic. It provides a structured framework for regular high-level engagement and concrete deliverables across sectors. The trade target of €20 billion by 2029, while ambitious, is seen as achievable given the complementary strengths of the two economies.
PM Modi, in his remarks, expressed satisfaction at the progress and optimism about the future trajectory of ties. The warm personal rapport between the two leaders often playfully referred to as “Melodi” in diplomatic circles has added a positive dimension to the relationship.
As Modi prepares to return to India, the Rome visit has laid a solid foundation for the next phase of India-Italy cooperation. With shared democratic values, complementary economic interests, and a common vision for a rules-based international order, the upgraded partnership is poised to deliver tangible benefits for both nations in the years ahead.
