India and Greece have agreed to escalate their bilateral trade by two-fold by the year 2030, as affirmed by Prime Minister Modi during Greece Prime Minister Kyriakos Mitsotakis’s visit to India. The two sides have agreed to boost ties in the defence, pharmaceutical, space and shipping sectors as they seek to double their bilateral trade by 2030 from nearly US$2 billion in 2022-23.
The meeting between the two leaders underscored the strengthening of the strategic partnership between their nations, particularly in defense and security sectors, indicative of the deep mutual trust shared by India and Greece.
Delegation Level Talks
Following bilateral and delegation-level talks, Prime Minister Modi expressed satisfaction in hosting Prime Minister Mitsotakis and his delegation, hailing the visit as a significant milestone in bolstering the strategic ties between India and Greece. Notably, this visit marked the Greek Prime Minister’s first visit to India in 16 years, signifying a renewed commitment to enhancing bilateral relations. Key officials present at the talks included External Affairs Minister S Jaishankar, Union Minister of State for External Affairs Meenakashi Lekhi, National Security Advisor Ajit Doval, and Foreign Secretary Vinay Kwatra.
PM Modi characterized the discussions with Kyriakos Mitsotakis as meaningful and productive, with a shared objective of doubling bilateral trade by 2030. He commended the strides made towards implementing agreements reached in 2023 and explored new avenues for collaboration across sectors such as agriculture, pharmaceuticals, medical devices, technology, innovation, skill development, and space exploration. Both leaders emphasized shipping and connectivity as priority areas for cooperation, alongside a reaffirmed commitment to combat terrorism.
Highlighting the rich historical and cultural ties between India and Greece spanning over two millennia, PM Modi underscored the enduring exchanges in trade, culture, and ideas between the two ancient civilizations. The discussions also touched upon the Migration and Mobility Partnership Agreement, aimed at bolstering people-to-people connections and further strengthening bilateral relations.
“The visit of the Greek PM to India after 16 years is a historic occasion,” said the Prime Minister, emphasizing the significance of the event. “Today we identified several new initiatives to give a modern form to these relations,” he added, highlighting the efforts to rejuvenate the historical ties between the two nations.
The visit marked a significant milestone as the first bilateral exchange at the Head of State or Government level between Greece and India in 15 years, signaling a renewed impetus to deepen bilateral relations. He welcomed Greece’s active engagement and positive contribution to the Indo-Pacific region, expressing satisfaction over Greece’s decision to participate in the Indo-Pacific Oceans initiative.
Collaboration in the Eastern Mediterranean region and the IMEC Corridor initiative, initiated during India’s G20 presidency, were also discussed as avenues for fostering long-term development and cooperation.
Both leaders pledged to work towards reforming global institutions to address contemporary challenges and enhance global peace and stability. “We agreed to reform the UN and other global institutions, so that they can be made contemporary,” noted PM Modi, highlighting the shared commitment to shaping the global agenda.
Plans were outlined to commemorate the 75th anniversary of diplomatic ties between India and Greece in 2025, showcasing shared heritage and achievements on the global stage. “We decided to prepare an Action Plan to celebrate the 75th anniversary of diplomatic relations between India and Greece next year,” he said.