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  HOME | Business & Economy (Click here for more)

India, Italy Agree to Boost Bilateral Investments during Italian PM Visit

NEW DELHI Italian Prime Minister Paolo Gentiloni and his Indian counterpart, Narendra Modi, agreed on Monday at a meeting in New Delhi to breathe new life into the investments of both countries.

The meeting between Gentiloni and Modi also saw the signing of agreements related to railway safety and renewable energy.

In the first official visit to India by an Italian head of government in a decade, Gentiloni and Modi signed six memorandums of understanding and launched a commemorative stamp celebrating 70 years of bilateral ties.

The agreements include collaboration on railway safety, a sector where the two countries have already been cooperating in order to improve the safety of Indian trains.

Gentiloni and Modi also discussed the possible resumption of negotiations regarding a free trade treaty between India and the European Union, a process that has remained deadlocked since 2013.

In this regard, both spoke about their commitment toward strengthening the economic ties between Europe and India.

The EU and India began talks about signing a free trade agreement in 2007 but the parties have not managed to bridge their differences and come to an agreement.

Among the key contentions, the EU seeks to export products such as automobiles, spirits, wine and dairy products under reduced tariffs, as well as protect its intellectual property regime in this market.

 

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