India and Italy strengthen ties with Indo-Mediterranean initiative

New Delhi

As India-Italy ties grow, a new initiative has been announced, the Indo-Mediterranean Initiative (IMI), to further the momentum. Announced at the two-day India Forum 2024 in Rome, the IMI aims to study, support, and promote the burgeoning India-Italy partnership.

The initiative will also place a special emphasis on the India-Middle East-Europe economic corridor (IMEC), an economic project unveiled at the G20 summit in New Delhi in September 2023.

Senator Giulio Terzi di Sant’Agata, former Italian Foreign Minister and President of the India-Italy Parliamentary Friendship Group, will lead the initiative. Speaking at the forum, Senator Terzi emphasised the significance of IMEC, stating, "Everyone was unanimously convinced that IMEC, the Economic Corridor launched by the Indian Presidency of the last G20 which saw Italy among the very first signatories, will be much more than an infrastructure project.”

The forum, organised by Vas Shenoy, Chief Representative for Italy of the Indian Chamber of Commerce (ICC), featured a diverse lineup of speakers. Amb. Francesco Taló, former diplomatic advisor to Italian Prime Minister Giorgia Meloni during her visit to India in 2023, highlighted Italy's strategic role.

“I was very happy and proud to be present and be a part of the strategic initiative, which has seen Italy be a protagonist in the international scene not only with India but also the UAE and other countries,” he said.

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Additional speakers included James Jay Carafano from the Heritage Foundation and Kaush Arha from Stanford University, who provided insights on the US and geopolitical contexts. The event also saw participation from Italy's leading think tanks and universities, with strategic support from Formiche, Italy’s premier geopolitical platform. Italian Ambassador to India, Vincenzo de Luca, and Sanjeev Sanyal, member of the Prime Minister's Economic Advisory Council, sent video messages endorsing the initiative.

The forum also hosted the ICC Italy-India Business Forum, inaugurated by Maria Tripodi, Under Secretary of State for External Affairs and International Cooperation, Italy. Among the key guests were India’s new envoy to Italy, Amb. Vani Rao, Senator Terzi di Sant’Agata, and Italy’s ambassador-designate to India, Antonio Bartoli.

Ameya Prabhu, ICC President, underscored the importance of trust in international trade and business. “The Italy-India relationship is important for global peace, security, and progress and to conduct trade and business trust is an essential commodity,” he stated.

The event concluded with representatives from the India-Italy parliamentary friendship group, including Sen. Marco Scurria, Sen. Matteo Gelmetti, and Naike Gruppioni, along with members of Italian institutions and a delegation of 30 companies from the ICC.

India-Italy ties have seen a high level engagement, including visit by PM Modi last week to the country to attend the G7 summit, and last year, the visit of Italian PM Meloni to India twice, first for a bilateral visit and then to attend the G20 summit.