Context:

The Italian PM delivered the inaugural address of the 8th Raisina Dialogue organised by Observer Research Foundation jointly with the Ministry of External Affairs.

Image Source: Tribune India

About the News:

• ‘Startup Bridge’: Both countries announced the establishment of a ‘Startup Bridge’ between India and Italy. 
•  Joint Military exercises: It was also decided to organise the joint military exercises and training courses on a regular basis.
• Declaration of Intent (DOI): The two countries also concluded a Declaration of Intent (DOI) on migration and mobility.
• Joining the Indo Pacific Ocean Initiative (IPOI): India welcomed Italy’s active participation in the Indo-Pacific, as Italy decided to join the Indo Pacific Ocean Initiative (IPOI).

Indo Pacific Ocean Initiative:

• Prime Minister Narendra Modi launched the Indo-Pacific Oceans Initiative (IPOI) at the East Asia Summit in 2019.
• IPOI seeks to ensure security and stability of the regional maritime
• IPOI is an open, non-treaty based initiative for countries to work together for cooperative and collaborative solutions to common challenges in the region.
• IPOI draws on existing regional architecture and mechanisms to focus on seven pillars:
  • Maritime Security
  • Maritime Ecology
  • Maritime Resources
  • Capacity Building and Resource Sharing
  • Disaster Risk Reduction and Management
  • Science, Technology and Academic Cooperation
  • Trade Connectivity and Maritime Transport

                                                                                                                              News Source: The Hindu