Minister Goyal bats for greater economic integration between India, Greece
This story was originally published at 21:19 IST on 29 June 2026
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NEW DELHI – Commerce Minister Piyush Goyal Monday called for greater economic integration between India and Greece, saying both countries offer tremendous opportunities to each other. "In this evolving environment, I see India and Greece as natural allies, natural partners," he said while addressing the India-Greece Business Forum in Athens. "When I look at our economic relations with Greece, I see huge untapped potential. We have barely scratched the surface when we boast of such a small bilateral trade of barely $1.3 billion."
Goyal stressed that Greece offers India strategic location, maritime expertise, and access to the European market. India, in turn, offers economy of scale and a skilled young aspirational workforce, he said. "I believe Greece can play a pivotal role in advancing deeper Indo-Europe commercial integration and expanding bilateral cooperation," he said.
Goyal further listed four key areas--shipping and logistics, clean energy, technology, and agriculture business--where both countries can complement each other and work together for mutual benefit.
In the financial year 2025-26 (Apr-Mar), total trade between India and Greece was worth $1.28 billion, down almost 11% on year. India exported goods worth $1.07 billion to Greece and imported $212.8 million worth of goods from the southern European country. In August 2023, India and Greece had decided to upgrade their ties to the strategic partnership level.
Goyal reiterated India's target of exports worth $1 trillion for FY27, adding that he is hopeful exports will touch $2 trillion five years after that. Overall exports, goods and services included, reached $860.09 billion in FY26. Of this, merchandise exports were $441.71 billion.
The minister added that India is in active negotiations with Chile for a free trade agreement, has finalised terms of reference with Mexico, and is in "very advanced discussions" with Canada. End
US$1 = INR 94.54
Reported by Pratiksha
Edited by Rajeev Pai
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