Greece deepens commercial relations with India amid shifting trade dynamics

Greece is deepening its commercial relations with India – the world’s largest consumer market – building on a series of high-level contacts that have drawn the two countries closer together over the past two years. Enterprise Greece is an active partner in these efforts and represented Greece at the recent ICC Global Business Summit in Mumbai, hosting a roundtable during the two-day, high-level event, which brought more than 500 delegates from 20 countries.

This follows trade talks between India and the European Union last month, with both sides seeking to develop global partnerships in response to unpredictable U.S. tariff policies. Brussels has accelerated its push for trade alliances, sealing deals in several new markets and intensifying talks with India, Indonesia and the United Arab Emirates. The EU-India talks, which resumed in 2022, have taken on a new urgency in the last several months with the goal of concluding a deal by the end of this year.

Greece is in a good position to move the relationship forward, in line with EU objectives. Already a number of Greek companies are active in India, drawn by the country’s rapidly growing economy. At the same time, Indian companies are increasingly looking to Greece to serve as their gateway to the EU, a manifestation of New Delhi’s desire to create a commercial corridor between the Indian subcontinent and Europe.

Bilateral commercial relations extend across a wide range of sectors: from food products, building materials and tourism, to shipping, infrastructure and IT. Over the last several years, Indian companies have invested in Greek baked goods, in the fast-growing Greek technology scene, and are participating in the construction of the new international airport in Crete. While Greek companies in fields ranging from pharmaceuticals to building materials, hospitality, technology and banking have expanded their footprint in India.

Greece is also gaining in popularity as a destination for Indian travelers, with passenger traffic up roughly 25% so far this year. Projecting further growth opportunities ahead, Greek carrier Aegean and Indian carrier IndiGo have signed a codesharing agreement and will launch their first direct routes between Greece and India from early next year, offering up to 16 direct flights per week in 2026, supporting a fourfold increase in passenger traffic.