New Delhi, Rome seal pact to choke terror financing

Striking a hard line against global terrorism in the wake of the recent Delhi attack, Prime Minister Narendra Modi and his Italian counterpart Giorgia Meloni on Sunday launched a new bilateral initiative to cut off the financial networks fuelling violent extremism.

The two leaders met on the sidelines of the G20 Summit in Johannesburg, where counterterrorism cooperation dominated their talks.

Expressing “full solidarity” with India over the Delhi terror incident, Meloni reaffirmed Italy’s commitment to stand with New Delhi against what she called a shared threat to democratic societies.

The leaders adopted the India-Italy Joint Initiative to Counter Financing of Terrorism, aimed at intensifying intelligence exchange, strengthening regulatory coordination, and working together in multilateral bodies such as the FATF and GCTF.

Officials said the move signalled a sharp elevation in security cooperation between the two nations, with Rome backing India’s push for stronger global norms on terror financing and stricter compliance regimes— an area where New Delhi has long sought wider European support.

Modi and Meloni welcomed the strong turnout at the industry-led business forums held in New Delhi and Brescia this year, noting growing interest in collaborative ventures in technology, innovation and supply-chain resilience. They also highlighted the recent visit of an Italian space delegation to India, which is expected to spur deeper cooperation among government agencies and private players.