New Delhi: Prime Minister Narendra Modi on Tuesday claimed that digital payments are increasing at a speed of 250 crore transactions per month. He was speaking at India-Italy Technology Summit organised in the national capital. PM Modi also welcomed his Italian counterpart Giuseppe Conte, who is on a day-long visit to India.

He further said that in the past four years in India the price of 1 GB data has reduced by more than 90 per cent. “Our goal to ensure that results of the Research & Development programmes do not get limited to research centres only, but reach the public. That’s why I say that science is universal, but technology has to be local,” said PM Modi.

Speaking at the event, Italian PM Giuseppe Conte said, “Before Tech summit, I had a fruitful meeting with PM Modi where we reviewed all the areas of our bilateral partnership. Regarding our economic partnership, we’ve explored possible Italian contribution to ‘Make In India’.”

The summit focuses on a number of areas including healthcare, aerospace, education, clean technology, renewable energy and information and communication technology.

Italy is India’s fifth largest trading partner in the European Union and the annual trade turnover between the two countries was USD 10.4 billion in 2017-18. Over 600 Italian companies are operating in India.

During his visit, Conte also held talks with PM Modi to boost cooperation in key areas such as trade and investment. The highlight of the visit will be the Italian prime minister’s participation at the 24th edition of the India-Italy Technology Summit which is being organised by the Department of Science and Technology in partnership with the Confederation of Indian Industry.