India and Italy on Tuesday decided to broad-base their defence ties and make them enduring and mutually beneficial.
Prime Minister Narendra Modi held wide ranging talks with his Italian counterpart Giuseppe Conte this afternoon during which the two leaders discussed mutual issues as well as global developments. The two leaders also delivered valedictory speeches in the final session of the 2018 edition of the India-Italy Tech Summit.
A joint statement issued at the end of the Italian leader’s brief visit said Modi invited Italian defence manufacturing companies to invest in India under the ‘Make-in-India’ initiative and to collaborate with Indian companies for design and construction of defence equipment.
The two leaders recognised the importance of regular defence exchanges between their two countries.
Modi and Conte strongly condemned terrorism in all its forms and manifestations. They asserted that strong measures need to be taken against terrorists, terror organisations and all those who encourage, support and finance terrorism. They condemned all kinds of State support to terrorists, including cross border terrorism and providing safe havens to terrorists and their network.
Underlining the importance of economic cooperation for strengthening bilateral ties, the two sides agreed on the need for an institutional framework for a sustained dialogue to enhance the environment for ease of doing business in their respective countries and further facilitate and promote bilateral economic cooperation.
With a view to stepping up India-Italy cooperation in India’s infrastructure sector, particularly in the construction of roads, bridges, ports and subways, the two leaders encouraged Indian and Italian companies to explore partnerships under the PPP mode.
They also expressed their commitment to strengthening the India-EU economic partnership and noted the ongoing efforts of both sides to re-engage actively towards an early resumption of negotiations for a comprehensive, balanced and mutually beneficial India-EU Broad Based Trade and Investment Agreement (BTIA).
The two leaders noted the successful organisation of the Technology Summit in New Delhi and hoped it would contribute significantly in facilitating technology transfers, joint ventures, collaborative research and development programmes and in promoting market access between the two countries.