Commerce and Industry Minister Piyush Goyal is leading a trade delegation to Greece as India seeks to deepen bilateral trade, investment and cooperation between the two countries.
Commerce Minister Piyush Goyal is leading a trade delegation to Greece as India seeks to deepen bilateral trade, investment and startup cooperation, news agency PTI reported.The Ministry of Commerce said in a statement on Sunday that the delegation will participate during the visit in presentations and startup presentations at the Start-up Business Incubator in Athens (THEA).The program will also include a high-level business interaction bringing together leading industry stakeholders from India and Greece to explore opportunities for further investment and business partnerships across priority sectors.The visit comes weeks after India and Greece held the 14th Foreign Ministry consultations in New Delhi, where the two sides reviewed cooperation in the areas of trade, investment, defence, security, education, culture, digital public infrastructure and people-to-people relations. They also reaffirmed their commitment to strengthening the strategic partnership between India and Greece and combating cross-border terrorism, according to the Ministry of External Affairs.
According to Commerce Ministry data, bilateral trade stood at $1.28 billion in fiscal year 2025-26, with India’s exports at $1.07 billion and imports from Greece at $212.82 million, resulting in a trade surplus of $845.97 million.India’s major exports to Greece include aluminium, smartphones, engineering goods, medicines, ceramic tiles, seafood and coffee, while imports include crude oil, petroleum products, aluminum scrap, marble, copper scrap, animal feed and medicines.
Gateway to Europe
The Ministry of Commerce considers Greece a strategic gateway to Europe because of its location at the crossroads between Europe, Asia and Africa.Greece controls about 20% of global shipping capacity and more than 60% of the European Union’s merchant fleet, making it a major maritime centre. Tourism also plays a major role in the country’s economy, contributing approximately 30% of the GDP directly and indirectly.
Growing investment ties
Indian companies have been steadily expanding their presence in Greece. GMR Airports is jointly developing the €850 million Kastelli International Airport project in Crete with Greek company GEK-Terna, while companies such as UPL and Switz Group have also invested in the country.Greek companies including Coffee Island, Alumil, Titan, Eurobank, Pharmaten and Frigoglass have set up operations in India, reflecting growing business involvement in both directions.
