Jun 25, 20212 min read

Italy keen to invest in Indian defence industry; India-Italy-Japan trilateral meet for Indo-Pacific

India and Italy are working on strategic areas including energy transition and defense industry with prospective investments here in these sectors, according to Italian envoy to India Vincenzo De Luca.

“In the defense industry we can do more. We have new potential to invest directly in India,” De Luca said while addressing a session titled ‘Italy and India, partners in sustainability and multilateralism’ as part of Ambassador series organised by leading public policy body Ananta Aspen Centre on Thursday.

It may be recalled that the India-Italy Summit last year decided to focus on widening defence partnership including manufacturing.

“We also have an important collaboration in the direction of a more effective multilateralism,” the envoy noted and informed that an important event is being organized by Italy, India and Japan next week on the Indo-Pacific construct. “It’s the first time we have three countries discussing and sharing views about the perspective and the future of Indo-pacific. We share common values and principles, rule of law, level playing field, cognitively inclusive growth and also an open and fair trade system.”

De Luca also mentioned that India and Italy are working closely on Italy’s G 20 agenda of three pillars- people, planet, prosperity. “All the international community has to work together to fight against the global pandemic and to provide universal access to health services all over the world.”

The envoy informed that on covid challenge Italy pledged 300 million Euros for the Covax facility and 200 million for climate and health in poor countries and 15 million doses for covid vaccines for low income countries.

A collaboration between Indian and Italian hospitals is being promoted. “In the second wave we provided oxygen and medical materials to the Indian government in an effort of solidarity and friendship.”