India, Italy Pursue Institutional Dialogue on Sustained Economic Cooperation

Italian Prime Minister Giuseppe Conte was in New Delhi on Tuesday to participate in the 24th India-Italy Technology Summit, organized by the Department of Science and Technology in partnership with the Confederation of Indian Industry.

The economic cooperation between India and Italy is set to get a big boost, with the two countries agreeing to set up an institutional framework for sustained dialogue. The decision to set up a CEO Forum guided by a Joint Commission on Economic Cooperation was announced in a joint statement issued after bilateral talks between Indian Prime Minister Modi and his Italian counterpart Giuseppe Conte.

Redefining bilateral ties.

PM @narendramodi and Italian PM @GiuseppeConteIT reaffirmed their commitment to expand the range of bilateral engagement. Joint statement available at https://t.co/zwPU4vFbDc pic.twitter.com/wJAKDPbwYF

— Raveesh Kumar (@MEAIndia) October 30, 2018

"The India-Italy Joint Commission on Economic Cooperation has been entrusted to work towards constituting a CEO forum and setting up a fast track mechanism to promote two-way investment and resolve issues related to business in each other's countries," the joint statement read.  

Modi and Conte also agreed to strengthen counter-terrorism cooperation through multi-lateral forums and asserted that strong measures need to be taken against terrorists, terror organizations and all those who encourage support and finance terrorism.

In order to give an impetus to enhanced economic cooperation between India and Italy, it was decided to set up a CEO forum guided by a Joint Commission on Economic Cooperation.

To increase two-way investments, we have decided to create a fast-track mechanism. @GiuseppeConteIT pic.twitter.com/Bg1wxknKP4

— Narendra Modi (@narendramodi) October 30, 2018

​The two leaders agreed to work together on expanding partnership in trade and investment, defense and security, as well as regional and global issues.

Later, both leaders also addressed the India-Italy Technology Summit.

"Italy is self-sufficient when it comes to technology, which is what gives us the confidence that we can partner with Italy to face global challenges with the help of technology," Modi said while addressing the forum.

24th edition of the @IndiaDST-CII Technology Summit witnessed great collaborations between India & Italy in science & technology and business. Presence of two world leaders further strengthened the technology-intensive business partnerships. #TechSummit2018 pic.twitter.com/aAYf2KJ8zT

— Confederation of Indian Industry (@FollowCII) October 30, 2018