New Indo-Mediterranean Initiative Boosts India-Italy Relations » Capital News

June 18 – A new initiative, the Indo-Mediterranean Initiative (IMI), has been launched to bolster the growing relationship between India and Italy. Announced at the India Forum 2024 in Rome, the IMI aims to further the India-Italy partnership and support the India-Middle East-Europe economic corridor (IMEC), an economic project unveiled at the G20 summit in New Delhi in September 2023.

Leading the initiative is Senator Giulio Terzi di Sant’Agata, former Italian Foreign Minister and President of the India-Italy Parliamentary Friendship Group. Speaking at the forum, Senator Terzi highlighted the importance 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, organized by Vas Shenoy, Chief Representative for Italy of the Indian Chamber of Commerce (ICC), featured a diverse lineup of speakers. Ambassador Francesco Taló, former diplomatic advisor to Italian Prime Minister Giorgia Meloni during her visit to India in 2023, emphasized 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 on the international scene not only with India but also the UAE and other countries,” he said.

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, Ambassador 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 Senator Marco Scurria, Senator 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 high-level engagement, including a visit by PM Modi last week to Italy 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. The new Indo-Mediterranean Initiative is set to further solidify this growing partnership, paving the way for enhanced economic and strategic cooperation.

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