India, Greece Aim to Double Trade

Indian Prime Minister Narendra Modi has called the visit to India of Greek Prime Minister Kyriakos Mitsotakis a “historic opportunity” to resume political, economic, trade, and cultural relations between the two countries. Mitsotakis’s visit followed Modi’s tour of the Arabian Peninsula countries, where the Indian Prime Minister signed a number of agreements as part of the India – Middle East – Europe Economic and Transport Corridor (IMEC) project that started in 2023. Greece, together with Italy, represent the final two points of a long journey. Its goal is to intercept geostrategic primacy from the China’s Belt and Road Initiative, also known as the New Silk Road.

Mitsotakis’s visit to New Delhi that took place 16 years after Greek Prime Minister Kostas Karamanlis’s previous visit (2008), allowed the two countries to “identify several new opportunities for cooperation.” As Modi clarified, India and Greece aim to “double their trade by 2030.” In addition, the two countries intend to strengthen strategic cooperation in various sectors ranging from agriculture, production of innovative drugs and medical devices, advanced technology, space research to connectivity, transportation, and logistics through the international IMEC project.

Modi noted “growing cooperation” in defense and security, reflecting “deep mutual trust.” The two countries established a joint working group to improve coordination in addressing common challenges, focusing on cybersecurity, combating international terrorism, and maritime transportation security. “Promising new opportunities are also being created for co-production and co-development in the defense industry,” the Indian Prime Minister emphasized. He welcomed Greece’s “active participation and positive role in the Indo-Pacific region.” Greece participates in the European military mission “Aspides” in the Red Sea and hosts its strategic command.