President Visits for Strengthening India-Greece Economic Ties

President Ram Nath Kovind on a State visit to Greece, the first stop of his tri-nation tour of Greece, Cuba and Surinam, on June 18, 2018 highlighted investment opportunities and said India is striving to become a $ 5 trillion economy and the world’s third largest consumer market by 2025, currently India’s economy is estimated at $ 2.5 trillion. He met Greece, the Hellenic Republic, President Prokopis Pavlopoulos at the Presidential Mansion in Athens and aspired to strengthen India-Greece Economic ties and announced India to be the ‘Honoured Country’ at the Prestigious Thessaloniki International Fair 2019.

On the subject of India-Greece cultural ties, the President said, “Greece and India presented the ideals of civilisation and culture in the ancient world. The relations between the two countries are very old and deep. Greek historian Megasthenes introduced India to the world through his book ‘Indica’.” He added that the two countries should work together to develop Greek and Indian traditional medicinal practices as healthcare options for people.

• President said India and Greece shared values of democracy, rule of law and multi-cultural ethos, and these have added depth to our bilateral and multilateral engagements.
• Expressed that India was keen to deepen the on-going co-operation with Greece especially in political and economic fields.
• Highlighted India’s commitment to promote trade and investment engagement between the two nations.
• Stated that bilateral trade between the two countries of US dollar 530 million was below potential and more efforts must be made to expand and diversify trade between the two countries.
• Apprised Greek delegation of steps taken by India to improve business climate in the country and said that India wished to collaborate with Greek companies to become partners in the growth story of India.
• Expected that India could benefit from expertise of Greece in areas such as Shipping, Food and Dairy, and Tourism.
• On the other hand Indian companies especially in the areas of pharma, IT, agriculture, real estate, infrastructure and start-ups are keen to establish presence in Greece.
• India also thanked Greece for its support for India’s candidature for a non-permanent seat in the UN Security Council and for membership of the Nuclear Suppliers Group.

After the delegation level talks, the President also met the Prime Minister of Greece Alexis Tsipras and the two leaders discussed different issues of mutual interest to both nations. Later, Kyriakos Mitsotakis, the Leader of Opposition of the Hellenic Republic also called on the President.

President laid a wreath at the Phaleron Indian Cremation Memorial where remains of 74 soldiers of undivided India who sacrificed their lives during World War II were laid to rest.

Memorandums of Understanding (MoUs) signed during President’s visit were as under:

• MoU between Bureau of Indian Standards (BIS) and National Quality Infrastructure System/Hellenic Organization for Standardization on Cooperation in the Fields of Standardization;
• MoU between Foreign Service Institute (FSI), India and Diplomatic Academy, Greece on Cooperation in Diplomatic Training and
• Programme of Cultural Cooperation for the year 2018-2020.

Greece is home to a 12000 strong Indian diaspora. Addressing a gathering of diaspora in Athens on June 17, 2018, President said, “We have an ambassador in Greece. But you are India’s cultural ambassador. You play a greater role in establishing relations with India, to strengthen economic relations with India,” and added, “Greece has worked in fields of processing, shipping, food, and tech, in India which has created employment opportunities in the country.” President further highlighted the major developments undertaken by India as it became the world’s fastest-growing economy, and the third largest market, while the World Economic Forum 2017 declared the Indian economy as the third most trusted in the world. He mentioned Goods and Services tax, and Mudra scheme, aimed at banking the unbanked, and digitisation, besides International Solar Alliance (ISA) as an initiative by India to highlight importance of solar energy, of which founding conference was held in March in New Delhi.