Facts:
- India and Italy are ancient civilizations and have known, interacted and traded with each other for over 2000 years.
- Political relations between India and Italy were established in 1947.
- The two countries enjoy cordial relationship.
- Italy is India’s fifth largest trading partner in EU with a bilateral trade of US $8.79 billion in 2016-17.
- India’s exports to Italy were at US $4.90 billion, while its imports were at US $3.89 billion, a trade imbalance of about US $1 billion in favour of India.
- India-Italy diplomatic ties took a hit after two Italian marines — Salvatore Girone and Latorre Massimiliano on board ship named Enrica Lexie, were arrested for allegedly killing two Indian fishermen off coast of Kerala in 2012.
- Italy has supported India’s candidature at Missile Technology Control Regime (MTCR) in 2016 and at FATF (Financial Action Task Force).
- Italy’s support is also crucial for India’s bid for Nuclear Suppliers Group (NSG) membership and EU-India FTA (Free Trade Agreement).