Greece Upbeat About Partnership with India

The Citizenry of one country, in particular, overwhelmingly congratulated when Bharat celebrated the grand reclamation of the Rama Janabhoomi.  Having legislated laws prioritising cultural restoration, India and Greece collectively share an intimate historical, cultural and civilisational linkage. While trade and exchange of wisdom integrally deepened the connections between the grand old sea-faring civilisational states. From this perspective, the Hellenic Republic is a natural ally and traditional friend of Bharat. Building on the strengths of these affinities, India and Greece, the resident powers of the Indian Ocean and Mediterranean Region began a new era galvanising bilateral engagement.

Reconnecting and reviving the cultural proclivities, PM Modi on his visit to Greece, the first by an Indian Prime Minister after 40 years, in August 2023, leaders of both countries have catapulted the relationship to a strategic orbit. Describing the bilateral partnership as a “a natural reunion” PM Modi reached out to Greece. Sustaining the same momentum and in line with India’s renewed focus on strategic outreach to the Eastern European Region, New Delhi has invited Greece Prime Minister Kyriakos Mitsotakis to deliver the inaugural lecture at the 9^th Raisina Dialogue 2024. This would be the third consecutive year of having a European Chief Guest at Raisina Dialogue. In 2023, Italian Prime Minister Giorgia Meloni presided as Chief Guest and the year before India hosted European Commission President Ursula Von der Leyen.

PM Mitsotakis arrived in New Delhi on February 21 for a two-day state visit, the first visit by a Greece Prime Minister in 15 years. Accompanied by a high-level delegation including a 63-member strong Business contingent, PM Mitsotakis after the customary guard of honour held delegation-level and restricted talks with PM Modi. Affirming interest in expanding and enriching the strategic partnership, during the bilateral talks, leaders have identified areas of cooperation that can help reach the target of doubling the trade by 2030. The volume of India-Greece bilateral trade in 2022-23 is $2 billion.

To double the bilateral trade, countries have focussed on cooperation in pharmaceuticals, infrastructure development, ports, shipping, chemical industry, food and communication sectors, agriculture and tourism. To strengthen the platform of strategic partnership, leaders in August 2023 decided to establish an institutional mechanism for dialogue at the NSA level. Setting the stage for future cooperation and the upcoming Greece Prime Minister’s visit, the NSA of both countries met in New Delhi on February 8^th and identified avenues of cooperation for a futuristic partnership aligning with the shared vision of both countries¹.

Charting the course for enhanced bilateral cooperation, leaders recognised the potential of cooperation in space, nanotechnology, biotechnology, quantum computing, clean energy, renewable energy, e-governance, e-learning, upskilling in emerging technologies, start-up and innovation sectors.

The structural reforms of Mitsotakis have stabilised the Greek economy reeling under severe inflation and unemployment. Greece was under an economic meltdown and needed three mammoth bailouts to the tune of € 260 billion to prevent bankruptcy. Mitsotakis has catapulted the economy to investment grade now. Months into his second tenure, the Prime Minister has doubled down on his pro-business by facilitating a favourable business climate to accelerate the growth trajectory.

Keen on shoring up an economic partnership with India, tipped to become the third largest global economy, at the India-Greece Business Conclave held in Mumbai, PM Mitsotakis invited Indian businesses to seize opportunities in logistics, energy and supply chains. To facilitate the organised migration of Indian labour, Mitsotakis is expediting the early conclusion of the Migration and Mobility Partnership Agreement (MMPA). Greece is currently facing labour shortages in construction, hospitality and agriculture sectors and plans to harness Indian talent.

The maritime powers, India and Greece strategically located in geopolitically volatile regions encounter similar threats and challenges. In a bid to bolster national security capabilities countries have steadily cultivated interoperability through regular joint exercises. Taking it to the next level, countries expressed interest in advancing joint ventures in defence manufacturing. In his remarks to the media after the bilateral, PM Modi said, “New opportunities for co-production and co-development are being created in defence manufacturing in India, which can be beneficial for both countries. We have agreed to link defence industries of both the countries”².

India and Greece share the vision of a free and open and rules-based Mediterranean Sea and Indo-Pacific, which in fact, is an indirect dig at blatant incursions of Turkey and China respectively. Reinforcing the commitment to building partnerships in the Mediterranean Sea and Indo-Pacific region, Mitsotakis announced Greece’s decision to join India’s Indo-Pacific Ocean Initiative (IPOI).

In the face of unabated Red Sea attacks, safe and secure passage of trade has become the foremost challenge for both countries. Hence leaders emphasised the need for enhancing maritime connectivity along dedicated corridors under the India-Middle East- Europe Economic Corridor (IMEC) Partnership and also the air connectivity. Maritime connectivity is under the ambit of IMEC. Leaders encouraged the private sector to take the lead by starting direct flights between India and Greece to improve air connectivity.

Before embarking on India’s visit, Mitsotakis said, “India will find no better gateway to Europe than my country and for Greece, there is no better gateway to Asia than a close strategic relationship with India”³. Reiterating the same position, Mitsotakis in his interview with Times Now remarked, “And I think after Brexit, Indian companies are looking for a new anchor in Europe and Greece could very well play that role”⁴.

Greece is a gateway to Europe. China in 2008 bailed out Greece during the economic recession. China’s state-owned shipping company COSCO acquired the operational rights of Port Piraeus. Over the years, it steadily increased ownership stakes in the port by 67%. With Piraeus as an operating base, China expanded its footprint in Europe. Instructively, Indian private companies are actively engaged with Greek partners in port construction. These joint ventures can counter Chinese forays in the region.

Along with strong G2G partnerships, countries are promoting B2B engagements. A commendable outcome of the visit has been the finalisation of several MoUs and agreements in the private sector. These include- MoU between Raisina Dialogue and Delphi Forum; EuroBank and NPCI; bilateral dialogue on security issues; Enterprise Greece and CII; Enterprise Greece, FICCI and Athens Chamber of Commerce and Industry⁵.

Notwithstanding the Israel-Hamas conflict which has stalled the diplomatic normalisation and stonewalled the Abraham Accords, last week UAE firmed up the partnership on IMEC, especially in terms of putting in place a robust logistics infrastructure. Much to the dismay of the naysayers who presaged the eventual collapse of IMEC, it figured majorly in the bilateral discussions and Raisina Dialogue lecture.

Sanguine about IMEC, Mitsotakis remarked that India and Greece should persevere with the “peace project” and said, “The war in Gaza and turmoil in the Middle East is undoubtably destabilising but it does not undermine the powerful logic behind IMEC. Nor should it weaken our resolve to work towards realising it”. He added, “Groundbreaking projects like IMEC hold promise to supercharge connectivity between India, the growth economies of the Middle East and Europe. To India I say, Greece is your natural doorstep to Europe and beyond”⁶.

IMEC corridor posits as a viable connectivity alternate for the trade that has to pass through the region infested by pirates and state militia. IMEC bypasses the maritime route riddled with narrow straits and unsafe regions. It presents a viable option of rerouting the trade via a safe overground transport network passing through land borders. Deeply strained US-Iran relations have further exacerbated the already tenuous security challenges in the Middle East and augmented the need for reliable connectivity.

With India already in the advanced stage of FTA talks with the EU, a strategic partnership with Greece which controls the world’s largest merchant shipping fleet can be a huge boost to India’s economic aspirations. Also, Greece can play a significant role in India’s energy security given its significant reserves of oil and natural gas.

On the global challenges like the Ukraine war and the West Asia conflict, without making any direct references, countries believed that all “disputes and tensions should be resolved through dialogue and diplomacy”. Underscoring India’s rising international stature, Mitsotakis emphasised New Delhi’s role in addressing the ongoing conflicts, climate change, food and energy security and said, “For all these challenges, one thing is certain. In order for governments to tackle them, international partnerships and collective action are paramount. India has a critical role to play in this endeavour and we view India as one of the main pillars of stability and security in the broader region of Indo-Pacific”⁷.

Mitsotakis affirmed India’s call for the reformation of multilateral organisations and backed India’s candidature for the expanded UNSC. Both countries strongly condemned terrorism in all forms and manifestations. The Indo-Greek bilateral ties draw strength from the fact that countries support each other in their national interests. Greece adopts a principled approach towards J&K and firmly asserts India’s position. India strongly supports Greece on the Cyprus issue. To foster people-to-people ties, leaders encouraged cultural exchanges and contemplated educational partnerships between universities and think tanks of both countries. The leaders have also asserted the need to preserve the heritage of ancient linkages.

Referring to India as a “consensus builder” and “leading democracy of the Global South”, Mitsotakis hailed the Indian democratic system. Given her adherence to the rules-based system and preservation of democratic virtues, India is now slowly emerging as a pole whose voice now carries a lot of weight on the international stage. Amid the geopolitical volatilities and burgeoning global challenges, countries are looking forward to a reliable partnership like India.

Driven by civilisation links and contemporary strategic convergences, leaders have laid the ground for deepening partnerships. The short time frame of the high-level reciprocal visits hints at the urgency with which countries aspire to cement a stable partnership to serve as a bedrock amid uncertainties and massive geopolitical configurations. The mutually beneficial strategic partnership holds a promise of immense potential and the leaders must seize every opportunity.  

@ Copyrights reserved.