PM Modi welcomes Italian PM Paolo Gentiloni

Prime Minister Narendra Modi welcomed Italian PM Paolo Gentiloni and accorded him a ceremonial reception at Rashtrapati Bhavan on Monday. India and Italy likely to look at strengthening the bilateral political and economic relations.

India's exports to Italy are at USD 4.90 billion, while its imports are at USD 3.89 billion, resulting in a trade imbalance of USD 1 billion in favour of India. In the first four months of fiscal 2017-18, bilateral trade has reached USD 3.22 billion. Italy is India's 5th largest trading partner in the European Union with a bilateral trade of USD 8.79 billion in 2016-17, as per official figures.

The Indo-Italy diplomatic ties were hit badly after two Italian marines -- Latorre Massimiliano and Salvatore Girone -- on board a ship named Enrica Lexie, were arrested for allegedly killing two Indian fishermen off the coast of Kerala in 2012.Italian PM Paolo Gentiloni inspects a guard of honour at Rashtrapati Bhavan in New Delhi.

Italian PM Paolo Gentiloni shakes hand with dignitaries duirng ceremonial reception at Rashtrapati Bhavan in New Delhi.We have strong economic relations and it's a great opportunity to make it stronger. We have common interests in global arena, says Italian PM. The prime ministerial trip from Italy was happening after more than a decade. The last visit of an Italian prime minister to India was in February 2007.