Union Commerce Minister Piyush Goyal held a productive meeting with Greece's Minister of Development Takis Theodorikakos to discuss strengthening economic ties, as per a statement released by the Minister.
Taking to his X account, Goyal shared that he "Had a productive meeting with Mr. Takis Theodorikakos, Minister of Development of Greece." He stated that both sides discussed boosting the India-Greece economic partnership through greater trade, investment, industrial cooperation and resilient supply chains.
"Discussed strengthening the India-Greece economic partnership through greater trade, investment, industrial cooperation, and resilient supply chains," Goyal said. He added that the discussions also focused on expanding cooperation in manufacturing, start-ups and emerging technologies for mutual growth.
"We also explored opportunities to deepen collaboration in manufacturing, start-ups, and emerging technologies for the shared prosperity of both nations," he said.
Meeting with Deputy Foreign Minister Haris Theoharis
In a further development, Goyal shared that he met Haris Theoharis, Deputy Foreign Minister of Greece. "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," he said in a social media post.
Bilateral Trade Targets and Key Commodities
As per data shared by the Directorate General of Commercial Intelligence and Statistics, India and Greece are deepening economic ties, with both sides targeting a doubling of bilateral trade to USD 4 billion by 2030, supported by strategic cooperation, including under the India-Middle East-Europe Economic Corridor (IMEC).
Key trade flows include machinery, chemicals and textiles from India to Greece, and petroleum, aluminium and agricultural products from Greece to India. The two countries are also looking to expand investment collaboration in pharmaceuticals, renewable energy, agriculture and technology, alongside growing cooperation in connectivity, defence, digitalisation and tourism.
Trade Growth and Surplus Trends
The report further said bilateral trade between India and Greece rose from USD 689.33 million in FY21 to USD 1,682.26 million in FY25, reflecting steady growth in economic engagement. India maintained a trade surplus over most of this period, except in FY23 when a deficit of USD 372 million was recorded. In FY25, Greece ranked 55th among India's export destinations, accounting for around 0.24 per cent of India's total exports.
