India, Greece agree to double bilateral trade by 2030

India and Greece on Friday agreed to upgrade bilateral ties to a strategic level and double the two-way trade by 2030.

Prime Minister Narendra Modi paid an official visit to the Hellenic Republic at the invitation of Prime Minister of Greece Kyriakos Mitsotakis.

Both leaders held high-level talks in a warm and friendly atmosphere and they noted the ongoing cooperation between the two sides and exchanged views on bilateral, regional and international issues of mutual interest, said an India-Greece joint statement.

Building on the foundation of the long-standing warm and close relationship between their countries and peoples, the two leaders decided to upgrade Greek-Indian bilateral ties to the level of a “Strategic Partnership and agreed to work to further expand bilateral cooperation in political, security and economic spheres,” it added.

“The two Prime Ministers also decided to take steps to further strengthen people-to-people ties between the two countries. Appreciating the increase in bilateral trade and economic engagement in recent years, the leaders also directed that both sides shall work to double bilateral trade by 2030,” the statement said.

The bilateral merchandise trade stood at about USD 2 billion in 2022-23, according to Indian government data.

Prime Minister Mitsotakis and Prime Minister Modi reiterated the need for further broadening and deepening bilateral engagements, in the field of defence, shipping, science and technology, cyber space, education, culture, tourism and agriculture.

“They took note of the signing of the MOU on cooperation in the field of agriculture, including the establishment of a Hellenic-Indian Joint Sub-committee on Agriculture for facilitating sectoral cooperation for mutual benefit,” the joint statement said.

Both leaders directed their senior officials to ensure regular dialogue in the areas including political, economic, defence, security and public diplomacy, it said, and the two leaders also agreed to encourage direct flights between Greece and India.

Prime Minister Modi welcomed Greece into the International Solar Alliance (ISA) and looked forward to Greece’s membership of the Coalition for Disaster Resilient Infrastructure (CDRI).