India, Italy explore ways to strengthen economic ties at ADB meet

By  News On Air   May 05, 2025

Union Finance Minister Nirmala Sitharaman met her Italian counterpart Giancarlo Giorgetti on the sidelines of the Annual Meeting of the Asian Development Bank in the Italian city of Milan. They explored ways to strengthen India-Italy economic ties and enhance cooperation in global and multilateral platforms on issues of mutual interest.

The meeting highlighted the implementation of the Joint Strategic Action Plan 2025-2029 announced by Prime Minister Narendra Modi and his Italian counterpart Giorgia Meloni in November 2024, which will add depth and momentum to our cooperation in priority domains. Both Finance Ministers discussed the importance of reforming Multilateral Development Banks to make them more responsive to developing countries’ needs.

The Indian Finance Minister also met Japan’s Finance Minister Katsunobu Kato and discussed the Special Strategic and Global Partnership between the two nations. Ms Sitharaman emphasised that the India-Japan partnership, based on shared values of democracy and the rule of law, is vital for promoting peace, prosperity and stability in the Indo-Pacific region.

Earlier, Ms Sitharaman addressed the Governors’ Business Session at the 58th ADB Annual Meeting, and emphasised India’s growth story and vision for Viksit Bharat 2047. She endorsed ADB’s vision of a more proactive, agile, bold and client-centric bank