India, Greece discuss stronger trade, investment, and supply chain cooperation

India and Greece are actively working to bolster their economic ties, with discussions centering on enhancing trade, investment, industrial cooperation, and building resilient supply chains. The productive meeting between Indian Union Commerce Minister Piyush Goyal and Greece's Minister of Development Takis Theodorikakos highlighted a shared commitment to deepening the bilateral economic partnership.

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Had a productive meeting with Mr. Takis Theodorikakos, Minister of Development of Greece.

Minister Goyal expressed optimism about the collaboration, stating on his X account, "Had a productive meeting with Mr. Takis Theodorikakos, Minister of Development of Greece." He further elaborated that the discussions focused on "strengthening the India-Greece economic partnership through greater trade, investment, industrial cooperation, and resilient supply chains." Both sides also explored opportunities to expand cooperation in manufacturing, startups, and emerging technologies, aiming for mutual growth and shared prosperity.

Further discussions involved Greece's Deputy Foreign Minister Haris Theoharis, with a focus on expanding trade and investment cooperation. The agenda also included advancing maritime and connectivity partnerships, alongside exploring new opportunities in emerging sectors to fortify the India-Greece Strategic Partnership.

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Discussed strengthening the India-Greece economic partnership through greater trade, investment, industrial cooperation, and resilient supply chains.

Data from the Directorate General of Commercial Intelligence and Statistics indicates a significant deepening of economic ties, with both nations targeting a doubling of bilateral trade to USD 4 billion by 2030. This ambitious goal is supported by strategic cooperation, including initiatives like the India-Middle East-Europe Economic Corridor (IMEC).

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We also explored opportunities to deepen collaboration in manufacturing, start-ups, and emerging technologies for the shared prosperity of both nations.

Key trade flows currently involve machinery, chemicals, and textiles moving from India to Greece, while petroleum, aluminum, and agricultural products are exported from Greece to India. The countries are also keen on expanding investment collaborations in pharmaceuticals, renewable energy, agriculture, and technology. Bilateral trade between India and Greece has shown steady growth, rising from USD 689.33 million in FY21 to USD 1,682.26 million in FY25. In FY25, Greece ranked 55th among India's export destinations.

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We discussed expanding trade & investment cooperation, advancing maritime & connectivity partnerships, and exploring new opportunities in emerging sectors to further strengthen the India-Greece Strategic Partnership.