U.S, May 21 -- Prime Minister Narendra Modi and his Italian counterpart Giorgia Meloni agreed to leverage the India-EU Free Trade Agreement to expand bilateral trade to 20 billion euros (over $23 billion) by 2029, according to a joint statement after their talks.

The leaders took note of the renewed momentum in bilateral economic and commercial ties, growing investments, and efforts to build long-term collaborations. In this context, they welcomed the exchange of three Business Forums last year. They also met select Italian and Indian CEOs representing sectors such as defence, digital, energy transition, infrastructure and logistics, the joint statement said.

"Both leaders agreed to leverage the opportunities from the India-EU Free Trad...