India and Italy will work towards establishing a startup network aiming to increase cooperation in sectors such as green hydrogen, renewable energy, information technology, semiconductors, telecom, and space.
With joint collaboration, both nations will serve as an infrastructure hub for new-age technology through which future strategies will take the course.
On the occasion of India and Italy celebrating their bilateral relations of 75 years in Hyderabad, both leaders Prime Minister Modi and Prime Minister Giorgia Meloni decided to label their partnership as a strategic partnership aiming to build a ‘Startup Bridge’ between both countries. Prime Minister Modi added that “the idea of Made in India and Atmanirbhar Bharat have opened doors for India in several industries.”
Giorgia Meloni congratulated Prime Minister Modi and went on to say that “he is the most loved PM around the world proving that he has been a major leader.” She further added that the “bilateral engagement between the two countries in areas of defence and security, economy and technology.”
A regional leader, Italy’s startup ecosystem is ranked number 31 in the world and is number 15 among the startups in Western Europe.
While both nations are looking to build a sturdy network of startups, they will also stand shoulder-to-shoulder against terrorism.
Prime Minister Giorgia Meloni stated that Italy is looking to elevate its relationship with India. She further added that the fact that bilateral trade between both countries has touched 50 billion euros is an indication of growth.
Prime Minister Modi further went on to appreciate Italy’s effectual and active engagement in the Indo-Pacific which will also help in recognizing tangible themes.
The External Affairs Ministry put out a statement: “This is Prime Minister Meloni’s first visit to India, and it will further strengthen and deepen the long-standing relationship between India and Italy.”
With this new development, both countries are looking to enhance the visibility of their history, science and technology, innovation, and diversity. The ‘Startup Bridge’ will also look to increase networking among incubators, investors, corporations, and entrepreneurs from both countries.
