India-Italy Bilateral Summit

  •  Recently, a virtual Bilateral Summit between India and Italy was held to comprehensively review the broad framework of the bilateral relationship and also strengthen cooperation against common global challenges, including the Covid-19 pandemic.
OUTCOMES
  • Both nations decided to adopt the Action Plan for an enhanced Partnership between India and Italy (2020-2024) to set up priorities, strategic goals and mechanisms of a bilateral partnership
  • India and Italy agreed to coordinate closely at multilateral fora especially G-20.
  • Italy will assume the Presidency of G-20 in December 2021 followed by India in 2022.
  • Memorandum of Understanding (MoU) was signed between Cassa Depositi Prestiti (CDP), an Italian investment bank and National Infrastructure Investment Fund (NIIF) to promote innovative financial schemes capable of supporting bilateral investments.
  • Italy thanked India for extending support during the pandemic by supplying medicines and personal protection equipment (PPE).
  • The Indian community in Italy is the second-largest community of Indians in Europe after the UK.

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