• Sunday, April 21, 2024

Business

Modi invites Italian defence companies under the Make in India initiative

By: Kimberly Rodrigues

On Thursday (02), Narendra Modi and his Italian counterpart Giorgia Meloni discussed the potential for the co-development and co-production of defense equipment in India.

Modi invited Italian defense companies to participate actively in the Make in India initiative.

The two leaders welcomed the deepening of defense cooperation between the two countries in the past two years and emphasised the need to further enhance mutual engagement in this field by signing an MOU on defense cooperation.

Meloni’s visit to India, her first official one, took place at a significant time, as the two countries celebrated the 75th anniversary of the establishment of bilateral diplomatic relations.

During the meeting, the two leaders discussed several issues of mutual interest, including political, economic, and strategic interests.

They affirmed their commitment to democracy, freedom, human rights, and the rule of law as key values in promoting peace, stability, and development.

The leaders also appreciated the strong bilateral economic engagement and expressed their intention to further advance cooperation, including in the framework of the respective Make in India and Made in Italy frameworks.

They also highlighted the positive impacts expected from the new MoU on industrial property rights.

In addition, the two Prime Ministers emphasised the importance of intensifying their cooperation in technology, space, energy security and transition, infrastructure, pharmaceuticals, food processing, education, and research and development.

They also reiterated the importance of promoting a cooperative system of international ocean and sea governance and maintaining the rules-based maritime order based on international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS).

The talks were held in a friendly and cordial atmosphere, and both leaders expressed their confidence in the ample scope for the further development of bilateral relations and of the multifaceted cooperation across sectors.

With inputs from ANI

 

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