Johannesburg, South Africa – On the sidelines of the G20 Summit in Johannesburg, India and Italy have launched a joint initiative aimed at bolstering cooperation in combating the financing of terrorism. The announcement came during a bilateral meeting between Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni on Sunday, November 23, 2025.

The "India-Italy Joint Initiative to Counter Financing of Terrorism" reflects the shared commitment of both nations to strengthen the global fight against terrorism and its support networks. The initiative seeks to deepen bilateral cooperation in countering terrorism and enhance collaboration within global and multilateral platforms, including the Financial Action Task Force (FATF) and the Global Counter Terrorism Forum (GCTF).

Prime Minister Modi emphasized the importance and timeliness of the joint effort, stating that it would strengthen humanity's fight against terrorism. Prime Minister Meloni conveyed her solidarity with India following the recent terror incident in Delhi and reaffirmed Italy's commitment to working together to tackle terrorism.

During their meeting, the two leaders discussed ways to strengthen bilateral ties across various sectors, including trade, investment, technology, Artificial Intelligence (AI), defense and security, space, research and innovation, and culture. They reviewed the progress of the bilateral Strategic Partnership, noting positive developments in trade and investment, defense, security, space, science and technology, education, and people-to-people connections. Both leaders expressed satisfaction with the advancement of the Joint Strategic Action Plan 2025–29.

Both leaders acknowledged the successful business forums held earlier in New Delhi and Brescia this year, which saw strong participation from industry leaders. They also emphasized ongoing efforts to boost cooperation in business, technology, innovation, and investment, with a focus on enhancing economic competitiveness and building resilient supply chains.

The leaders appreciated the recent visit of an Italian space delegation to India, which is expected to strengthen collaboration in the space sector at both governmental and private levels. Furthermore, the Italian Prime Minister reiterated her country's strong support for concluding a mutually beneficial India–EU Free Trade Agreement and welcomed India's plans to host the AI Impact Summit in 2026.

The meeting reaffirmed the tradition of regular high-level engagement between the two nations. India-Italy trade is estimated at approximately USD 15 billion in 2023-2024, with Foreign Direct Investment from Italy into India reaching about USD 4 billion since 2000.