News Highlights:
- India-Italy Strategic Partnership: India and Italy announced the elevation of the bilateral relationship to the level of strategic partnership in a Memorandum of Understanding (MoU) on defence cooperation.
- The Italian Prime Minister met the Indian PM during his visit to India. The Italian PM also inaugurated the 2023 edition of the Raisina Dialogue in New Delhi.
Outcomes of the meeting:
- Identifying defence as an important pillar in the relationship, both countries signed a Memorandum of Understanding on defence cooperation.
- The MOU focuses on three areas::
- Strong cooperation in the fields of manufacturing, co-production, co-design, and co-innovation.
- expansion and deepening of military exercises to all levels in the armed forces
- maritime cooperation.
- The two nations have signed a Declaration of Intent for a partnership agreement on migration and mobility.
- Italy joined the IPOI, Indo-Pacific Oceans Initiative, signalling the need for stronger cooperation in the Indo-Pacific.
- Both nations announced a start-up bridge to give momentum to economic ties.
India-Italy Bilateral Relations:
- History of Relations:
- India and Italy are ancient civilisations but young states, as the unification of Italy took place in 1861.
- These two ancient civilisations have known, interacted, and traded with each other for over 2000 years.
- The Venetian merchant Marco Polo, during his travels to the east, also travelled to India in the 13th century and wrote about his Experiences.
- Niccolo de Conti left Venice in 1419 to visit the Middle East, Persia, and India.
- Economic relations:
- Italy is India’s fourth largest trading partner in the EU after Germany, Belgium, and The Netherlands.
- The balance of trade has been in India’s favour since 1988.
- In 2021, the two countries inked a Strategic Partnership on Energy Transition to advance collaboration in areas like green hydrogen and biofuels.
- India invited Italy to partner in ‘Make in India’ and ‘Aatmanirbhar Bharat Abhiyan’ with a focus on the areas of renewable energy, green hydrogen, IT, telecom, and space, among others.
- Italy also joined the successful India-France-led International Solar Alliance comprising over 90 members.
- Foreign direct investment:
- Italy is India’s 17th largest foreign investor (0.53% of the cumulative total FDIs to India from April 2000 – June 2022).
- The European countries ahead of Italy in this respect are the UK (that ranks 6th), Netherlands (4th), Germany (9th), Cyprus (10th), France (11th), Switzerland (12th), Luxembourg (15th) and Spain (16th).
- Cultural Exchange:
- The agreement for cultural cooperation was signed in 1976. A new Agreement in July 2004 replaced it.
- The Cultural Exchange Programme (CEP) between Italy and India entails the exchange of students in language programs and other academic courses.
- The Embassy of India launched the year-long Festival of India in Italy ‘Srijan’ on 18 Jan 2021.
- Scientific Cooperation:
- An Agreement on Science & Technology cooperation has existed since 1978.
- The Agreement foresees three yearly action plans under which a maximum of thirty joint research projects can be undertaken. This agreement was replaced by one signed in Nov 2003.
- Some of the prime areas of joint research are Electronics, Biotechnology, Design Engineering, Automotive Technologies, Energy, etc.
- Defence cooperation:
- Defence cooperation has traditionally been an important pillar of India-Italy relations. An MOU on Defence Cooperation was signed in November 1994.
- The Indian Army has a historical connection with Italy.
- India also welcomed Italy’s engagement in the Indian Ocean Rim Association (IORA) and Italy’s new status as a Development Partner of ASEAN
- The navies of both countries regularly cooperate in anti-piracy missions.
Conclusion:
- Italy, an EU member, may turn out to be an important ally for India in post-Brexit Europe and a decent base for Indian companies to operate from.
- Promoting ideals like democracy, free commerce, security, and the rule of law, which characterise India and Italy’s foreign behaviour, would need collaborative action in both sectors, with implications for planning and policies.
Pic Courtesy: ORF
Content Source: The Hindu