India-Greece Boosting Ties Across Defence, Trade and Culture

The official visit of Greek Prime Minister Kyriakos Mitsotakis to India on 21st-22nd February 2024 after a hiatus of 15 years witnessed both nations substantially stepping up engagement across defence, security, trade and culture while exploring collaboration avenues in shipping, agriculture, pharmaceuticals and space sectors.

With an ambitious target to double bilateral trade to $1 billion by 2030, the reciprocal interactions lend fresh momentum in realizing the full potential of the India-Greece developmental partnership.

Deepening Defence and Security Collaboration

Premised on a shared vision for a free, open and inclusive Indo-Pacific region, both Prime Ministers emphasized enhancing cooperation on defence production, military training and countering terrorism.

To further cement defence ties, Greece has confirmed joining India's marquee Naval exercise MILAN 2024 while reiterating support for India’s permanent membership in an expanded United Nations Security Council.

Potential collaborations in co-development and co-production of defence equipment and technologies were also discussed especially in sectors like shipyards, ammunitions manufacturing and cyber security systems.

Fast-tracking Trade Expansion Across Focus Sectors

Current Trade Scenario

• Bilateral trade reached $830 million in 2021-22
• India’s exports accounted for $510 million dominated by cotton, refinery products and machinery
• Greece’s exports amounted to $320 million encompassing fertilizers, plastics and chemicals ([3])

The two Prime Ministers have set the goal to double bilateral trade turnover to $1 billion by 2030 especially targeting opportunities in pharmaceuticals, agriculture, medical devices, innovation, skill development and space sectors.

Collaboration Roadmap across Emerging Areas

Space Cooperation

• Joint Committee on Space Cooperation identified priority areas including earth observation, satellite navigation, space exploration etc.
• India to support Greece joining the International Solar Alliance to tap renewable energy

Rail Transport

• Cooperation in modernizing rail transport as promising connectivity avenue
• India to provide technical support in upgrading Greek railway safety mechanisms

Pharmaceuticals & Healthcare

• Collaboration avenues in generics, biosimilars, pharmaceutical raw materials, equipment
• India to facilitate investments in R&D, deep tech healthcare innovations

Shipping & Ports

• Potentials leveraging proximity as two maritime nations with history of seafaring
• Connectivity partnerships encompassing sea routes, intermodal logistics

Agri Tech

• Exploring agriculture tie-ups in organic produce, fisheries and aquaculture
• Fostering innovations and technology transfers - precision farming, post harvest management etc

Fast-tracking Mobility and Migration Pact

Recognizing mobility's role in boosting bilateral exchanges, India and Greece agreed to fast-track formulation of a full-fledged Migration and Mobility Partnership Agreement aimed at facilitating legal migration.

As per official releases, modalities are being worked out to streamline procedures around employment generation, skills, education linkages and implementation mechanisms for safe orderly migration flow.

Commemorating 75 Years of Diplomatic Ties

2025 will mark an important diplomatic milestone as India and Greece complete 75 years of diplomatic relations - an occasion that will be commemorated through year long celebrations.

Both countries are working on an elaborate action plan encompassing diplomatic exchanges, cultural festivals, commemorative stamp releases, business promotion events and diaspora outreach programs befitting the landmark legacy.

In summary, with extensive commonalities and fast expanding shared interests, the vitality infused into India-Greece ties by the 2024 bilateral summit has set the stage for a reinvigorated multi-dimensional partnership attaining fuller potential.

References

[1] Times of India [2] The Hindu [3] Ministry of Commerce [4] Business Standard [5] Greek City Times