Prime Minister Narendra Modi and his Italian counterpart Giuseppe Conte will meet at a virtual bilateral summit on Friday to comprehensively review bilateral relations and exchange views on regional and global issues of mutual concern.

“Several government-to-government and private sector agreements/MoUs are under finalisation and will be concluded on this occasion,” according to an official release issued by the Ministry of External Affairs on Wednesday.

India-Italy economic ties are significant as it is the country’s fifth-largest trading partner in the EU, after Germany, Belgium, UK and France. Bilateral trade between India and Italy stood at Euros 9.52 billion in 2019.

“Around 600 large Italian companies are active in India, covering varied sectors such as fashion and garments, textiles and textile machinery, automotive components, infrastructure, chemicals, energy confectionery, insurance etc. Several Indian companies are also active in Italy,” the release said.

Published on November 4, 2020