India, Italy stand united against terrorism, vow to break financing networks: PM Modi

India and Italy are working on innovation centres, and PM Modi, who is currently in Rome, said “Technology and innovation are the engine of our partnership.” The two nations have unanimously stood against terror financing and believe that responsible democracies not only condemn terrorism but also take steps towards breaking the financial networks.

India and Italy have decided to elevate their bilateral ties to a Special Strategic Partnership, PM Modi and Italian PM Giorgia Meloni announced on Wednesday. Modi stated that there are infinite possibilities for the partnership in the areas of AI, Quantum, Civil Nuclear Energy, and Space, and that both countries are working on the India-Italy Innovation Centre to help connect startups, research centres, and businesses.

The two countries will move forward on the principle of "design and develop in India and Italy and deliver for the world." Italy is renowned worldwide for design and precision, while India's identity is that of a powerhouse of scale, talent, and affordable innovation. Bilateral discussions are also expected to focus on the India-Middle East-Europe Economic Corridor (IMEC), a major connectivity project aimed at linking India with Europe through the Middle East via rail, shipping, and digital infrastructure networks.

Modi said India and Italy are also working together in shipping, port modernisation, logistics, and the blue economy, while the India-Italy Defence Industrial Roadmap has paved the way for co-development and co-production of military hardware.