Union Commerce Minister Piyush Goyal held a productive meeting with Greece's Minister of Development Takis Theodorikakos to discuss strengthening economic ties, according to a statement by the Minister. Goyal shared on his X account: "Had a productive meeting with Mr. Takis Theodorikakos, Minister of Development of Greece." 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.
Bilateral Trade Data and Trends
According to the source, 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.
| Metric | FY21 | FY25 |
|---|---|---|
| Bilateral trade (USD mn) | 689.33 | 1,682.26 |
| India's trade surplus | Yes (except FY23: -372) | Yes |
| Greece rank among India's export destinations | – | 55 |
| Share of India's total exports | – | 0.24% |
Key Trade Flows and Investment Sectors
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.
Additional Diplomatic Engagement
In a further development, Goyal shared 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.
The meetings signal a concerted effort by both nations to deepen bilateral ties across multiple dimensions—trade, investment, supply chain resilience, and strategic cooperation. For importers and exporters, the expanding trade volume and diversification into sectors like renewable energy and technology present actionable opportunities. Trade policy professionals should monitor follow-up actions, including potential trade missions or tariff adjustments, as the dialogues progress.
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