Joint Statement on Italy-India Strategic Partnership in Energy Transition

What is the News?

The President of Italy and Prime Minister of India had a bilateral meeting on the sidelines of the G20 Leaders’ Summit hosted by Italy in Rome.

What are the key highlights of the meeting?

Firstly, acknowledged significant progress in bilateral relations since the adoption of the Action Plan for an enhanced Partnership between India and Italy (2020 –2024) in 2020.

Secondly, in order to promote their partnership in energy transition, Italy and India will:

-Task the “Joint Working Group” established by the MoU on Cooperation in the field of Energy, signed in 2017. This is to explore cooperation in areas such as Smart Cities; mobility; smart-grids, electricity distribution and storage solutions.

-Initiate a dialogue to support the development and deployment of green hydrogen and related technologies in India.

-Consider working together to support a large green corridor project in India to capitalize on India’s target to produce and integrate 450 GW of renewable energy by 2030.

-Encourage joint investments of Indian and Italian companies in energy transition-related fields.

Source: This post is based on the article “Joint Statement on Italy-India Strategic Partnership in Energy Transition” published in “PIB” on 31st October 2021.