Athens, Greece — Greek-Indian relations are expected to receive a significant boost as Indian Prime Minister Narendra Modi visits Athens, marking the first visit by an Indian leader to Greece in four decades. This visit is anticipated to pave the way for further enhancements in trade, business, investment, and defense cooperation between the two nations.
The visit underscores the intention of both countries to reinforce bilateral ties on a commercial and economic basis. A notable indication of this effort is the recent surge in bilateral trade, which reached a record high of 1.32 billion euros in 2022, marking a remarkable 58% increase over the previous five years. The upsurge in bilateral trade highlights the growing interest of sectors such as technology, pharmaceuticals, aerospace, energy, tourism, shipping, mining, and food in fostering business partnerships.
India’s burgeoning interests have led to explorations of collaborative opportunities, including the use of Greece’s Port of Piraeus for European exports. This move aligns with India’s broader economic security goals that encompass the control of crucial sea routes connecting Europe and India.
Greece, in its role as a gateway to Europe, has expressed readiness to facilitate India’s access to the European market. Alexandros Boudouris, Greece’s Charge d’affaires, highlighted, “We really want to act as India’s gateway to Europe. And we are ready for it, offering a comprehensive privatization scheme that includes seaports and airports and logistics hubs for Indian investors to start the gateway.”
Prime Minister Modi’s visit is anticipated to elevate the bilateral relationship to new heights of cooperation, particularly in the strategic domain. Modi emphasized the strong foundation of shared values between the two nations, encompassing democracy, the rule of law, and pluralism. He also acknowledged the depth of cooperation across various sectors, including trade and investment, defense, and cultural exchanges.
The relationship between India and Greece extends beyond the realms of economic cooperation. Both nations share a high level of political trust, grounded in strategic alignment and mutual support for core concerns. This was evident when Athens stood by New Delhi during challenging times in 1998 when India faced sanctions from Western nations. Their collaboration extends to issues like the Jammu and Kashmir conflict and the fight against cross-border terrorism.
Moreover, Greece and India have found common ground in their stance on international matters. Greece supports India’s aspiration for a permanent seat on the UN Security Council, and India stands in solidarity with Greece’s stance on the Cyprus issue.
As both nations embark on this journey to fortify their collaboration, sectors like space and shipping are emerging as key areas of cooperation, promising a future of enhanced economic, strategic, and diplomatic partnership.
