India and Italy launch joint initiative to counter terror financing at G20 talks

India and Italy on Sunday unveiled a joint initiative to strengthen cooperation against the financing of terrorism, following talks between Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni in Johannesburg.

The meeting, held on the sidelines of the G20 summit, covered ways to expand bilateral engagement across trade, defence and security. The two leaders adopted the India-Italy Joint Initiative to Counter Financing of Terrorism, reaffirming their shared commitment to combating terrorism in all forms.

”Had a very good meeting with Prime Minister Giorgia Meloni. The India-Italy Strategic Partnership is growing from strength to strength, greatly benefitting the people of our nations,” Modi said in a post on social media after the meeting.

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Had a very good meeting with Prime Minister Giorgia Meloni. The India-Italy Strategic Partnership is growing from strength to strength, greatly benefitting the people of our nations. @GiorgiaMeloni pic.twitter.com/rX4NUYpl3x

— Narendra Modi (@narendramodi) November 23, 2025

”India and Italy are announcing a Joint Initiative for cooperation in combating financing of terrorism. This is a necessary and timely effort, which will strengthen humanity’s fight against terrorism and its support networks,” Modi said.

Prime Minister Meloni expressed solidarity with India on the terror incident in Delhi and reiterated Italy’s strong commitment to working together to combat the scourge of terrorism.

Modi said he also discussed further advancing bilateral cooperation in sectors such as trade, investment, defence, innovation, AI, space and education.

The two leaders had interacted briefly on the sidelines of the G7 Summit in Kananaskis, Canada, earlier in June this year.

”Both leaders adopted the ‘India-Italy Joint Initiative to Counter Financing of Terrorism’. The initiative aims to deepen bilateral cooperation on countering terrorism and collaboration in global and multilateral platforms, including the Financial Action Task Force ( FATF) and the Global Counter terrorism Forum (GCTF),” the Ministry of External Affairs (MEA) said in a statement.

The two leaders reviewed and positively assessed the developments in the bilateral Strategic Partnership across sectors such as trade and investment, defence, security, space, science & technology, education, and people-to-people ties, it said.

Both leaders expressed satisfaction over the progress being made on the Joint Strategic Action Plan 2025-29, which would benefit the two economies and peoples, it added.

The two leaders welcomed the two Business Fora held in New Delhi and Brescia this year with robust participation of the respective industries.

They noted the ongoing efforts to increase business, technology, innovation and investment partnerships aimed at enhancing the competitiveness of both economies and building resilient supply chains.

They appreciated the recent visit of an Italian Space delegation to India, which would augment collaboration in this domain, both at the government and private sector levels.

Prime Minister Meloni reiterated Italy’s strong support for the conclusion of a mutually beneficial India-EU Free Trade Agreement and for the success of the AI Impact Summit to be hosted by India in 2026.

The two leaders looked forward to continuing their dialogue and working together in multilateral and global platforms for upholding their shared values of democracy, the rule of law and sustainable development.

India-Italy trade is estimated at about USD 15 billion in 2023-2024, while Foreign Direct Investments from Italy into India are estimated at about USD 4 billion since the year 2000.

With inputs from agencies