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3w ago

India and Italy Deepen Economic Ties with Action Plan 2025-29 and Multilateral Finance Reforms

Finance Minister Sitharaman meets Italian counterpart Giorgetti in Milan, advancing bilateral trade, investment opportunities, and global development bank reforms.

India’s Rise To Power: FM Sitharaman Shares Global Success In Milan
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Overview

  • Nirmala Sitharaman and Giancarlo Giorgetti operationalized the Joint Strategic Action Plan 2025-29 to enhance India-Italy economic collaboration.
  • India invited Italian firms to invest in key sectors under its Production Linked Incentive (PLI) schemes, including renewable energy and high-end manufacturing.
  • The ministers advocated for reforms in Multilateral Development Banks (MDBs) to better address developing countries' needs and align with Sustainable Development Goals.
  • Sitharaman showcased India’s digital finance achievements, highlighting UPI’s 1,800 crore transactions in March 2025 and the ₹2.614 lakh crore deposits in Jan Dhan accounts.
  • Addressing the Indian diaspora in Milan, she emphasized their contributions to global economies and underscored India’s progress in inclusive governance and transparent policymaking.