India and Italy Forge Alliance to Combat Terror Financing at G20

India and Italy have launched a collaborative initiative aimed at enhancing efforts to combat the financing of terrorism. This announcement came during discussions between Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni in Johannesburg, on the sidelines of the G20 Summit. The initiative highlights a shared commitment to tackle terrorism comprehensively and strengthen bilateral ties across various sectors.

The newly adopted India-Italy Joint Initiative to Counter Financing of Terrorism seeks to fortify cooperation in counter-terrorism efforts. “This is a necessary and timely effort, which will strengthen humanity’s fight against terrorism and its support networks,” Modi stated during the meeting. Meloni expressed her solidarity with India, especially in light of recent terror incidents in Delhi, and reaffirmed Italy’s dedication to combating terrorism.

In addition to counter-terrorism measures, the two leaders discussed advancing cooperation in critical areas such as trade, investment, defense, innovation, artificial intelligence, space, and education. Their previous interaction at the G7 Summit in Kananaskis, Canada, in June 2023, set the stage for this expanded dialogue.

Strengthening Bilateral Ties

The Ministry of External Affairs (MEA) of India confirmed that both leaders endorsed the Joint Initiative to deepen bilateral cooperation against terrorism. They plan to collaborate within international frameworks, including the Financial Action Task Force (FATF) and the Global Counter Terrorism Forum (GCTF).

Additionally, they reviewed progress in the Joint Strategic Action Plan 2025-29, which aims to enhance economic and cultural ties between the two nations. Modi and Meloni expressed satisfaction with advancements in trade and investment, which is estimated at approximately USD 15 billion for 2023-2024, alongside USD 4 billion in Foreign Direct Investments from Italy into India since 2000.

The leaders also highlighted the successful conduct of two Business Fora in New Delhi and Brescia earlier this year, emphasizing robust participation from industries in both countries. They underscored ongoing efforts to foster partnerships in business, technology, and innovation, which are vital for enhancing economic competitiveness and building resilient supply chains.

Future Collaborations

Prime Minister Meloni reiterated Italy’s strong alignment with India regarding the India-EU Free Trade Agreement and expressed support for the upcoming AI Impact Summit in India, scheduled for 2026. Both leaders agreed on the importance of maintaining ongoing dialogue and cooperation within multilateral platforms, underlining their shared values of democracy, the rule of law, and sustainable development.

As the dialogue progresses, the focus remains on solidifying the strategic partnership between India and Italy, aiming for mutual benefits that resonate with the people of both nations. The commitment to counter terrorism financing stands as a crucial pillar of this partnership, reflecting a unified stance against global security challenges.