Greece’s gateway to Asia, India’s gateway to Europe
- The state visit by the Greek Prime Minister to India will be another important step in building a strategic relationship between India and Greece.
Historical Context
- The process of building a strategic relationship between Greece and India commenced with the present Prime Minister's visit to Greece in August 2023.
- This visit generated significant enthusiasm among Greek political leaders and business figures, recognizing the potential benefits of a strategic partnership with India.
Strategic Importance
- Both countries, situated in geopolitically volatile regions, recognize the necessity of security, stability, and prosperity in their respective regions for global stability.
- Recent events in the Red Sea highlight the interdependence of the East Mediterranean region, where Greece is located, and the Indian Ocean region.
Cooperation Across Various Sectors
- Bilateral cooperation, including strategic, military, and business, has been gradually progressing over the years.
- The Indian Navy and Indian Air Force have been participating in joint exercises with the Greek armed forces.
- Business collaborations range from construction projects to investments in the food and shipping sectors.
- Notably, Indian-Canadian billionaire Prem Watsa has been a key advocate for Greek-Indian business cooperation.
Potential for Further Collaboration
- As Greece undertakes economic reforms and positions itself as a reliable partner in the EU and NATO, the concept of an India-Middle East-Europe Economic Corridor gains traction.
- Both countries aim to enhance economic ties, with Greece supporting deeper EU-India relations.
- Greece is also working to ensure the conclusion of the EU-India bilateral trade and investment agreement (BTIA).
Cultural and People-to-People Ties
- Efforts to strengthen people-to-people connections are crucial in preserving the historical ties between both the countries while modernising.
- These include university exchanges, cultural initiatives and media collaboration.
Urgency in Relationship Building
- The successive visits of political leaders from both countries underscore their commitment to advancing the bilateral relationship.
- Policymakers and businesses must seize the opportunities presented in 2024 to solidify the Greece-India strategic partnership.