India, Italy to fast-track two-way investments

New Delhi: Visiting Italian Prime Minister Giuseppe Conte held talks with Prime Minister Narendra Modi on Tuesday at Hyderabad House in the Capital during which the two sides decided to expand their partnership in trade and investment, infrastructure, defence and security, food-processing, renewable energy, and counter-terrorism apart from discussions on regional and global issues.

India “invited Italian defence equipment manufacturing companies to invest in India”. To boost economic cooperation, the two countries “decided to set up a CEO forum guided by a Joint Commission on Economic Cooperation”. To increase two-way investments, it was also decided to “create a fast-track mechanism”.

Prime Minister Narendra Modi tweeted, “India is delighted to host PM @GiuseppeConte. I am glad he took part in the Technology Summit as well. During our talks earlier today, we reviewed the full range of the India-Italy partnership, particularly in advancing cooperation in trade, technology and culture.... In order to give an impetus to enhanced economic cooperation between India and Italy, it was decided to set up a CEO forum guided by a Joint Commission on Economic Cooperation. To increase two-way investments, we have decided to create a fast-track mechanism.”

PM Modi further tweeted, “India and Italy have decided to boost ties in key sectors such as lifestyle accessories design, transportation and automobile design, energy, life sciences etc.”