Greece–India trade is entering a phase of upgrading, as the Indian economy grows rapidly while bilateral flows remain below their potential. Exports are rising, direct flights and a banking presence are boosting tourism and investment, but the trade deficit remains large.
Greece–India trade is entering a period of increased opportunities, as the Indian economy develops faster and institutional bridges with Greece become denser. Despite improving indicators, bilateral trade flows still fall short of the real potential of the two economies.
How fast is Greece–India trade growing and where does it lag?
Greek exports to India reached approximately €128.8–129 million in 2025, recording an increase of around 6.6% year-on-year. At the same time, imports from India reached about €1.24 billion, up by roughly 16.5%, reflecting a strongly deficit balance for Greece.
The composition of Greek exports is described as limited and volatile, making it necessary to broaden the base with high-value-added products that have a strong Greek identity. India’s rapid growth, with real GDP at 7.7% in fiscal year 2025–2026, opens space for Greek companies in food, pharmaceuticals, shipping, tourism, energy, infrastructure and technology.
How are tourism, investment and new technologies changing?
Of key importance for connectivity is the launch of IndiGo’s direct flights from Mumbai and New Delhi to Athens, which facilitates the rise in Indian travel.
The operation of a Eurobank representative office in Mumbai and the expansion of the Greek business presence strengthen investment, business contacts and the promotion of Greek products and services in the Indian market.
The upcoming EU–India Free Trade Agreement is expected to facilitate access for Greek products, without automatically removing sanitary and regulatory requirements. At the same time, European cooperation with India in artificial intelligence, semiconductors, quantum technologies, 6G and clean technologies creates new fields for Greek companies and research institutions.
What this means for the Greek economy
For Greece, the challenge is to turn the positive conjuncture into measurable trade and investment results, gradually reducing the trade deficit with India. The strategic goal is to position the country as a key European hub of the IMEC corridor and as a transport, energy, investment and business gateway for India toward the EU and Southeastern Europe.
In practical terms, strengthening tourism from India and increasing high-value-added exports can support employment, tax revenues and income in sectors such as agri-food, pharmaceuticals, shipping and energy. However, the continuation of high imports without a corresponding rise in exports maintains pressure on the trade balance and requires a targeted industrial and export strategy.
For the Greek consumer, deeper relations with India potentially mean greater product variety and more competitive prices for imported goods, but also a need to strengthen domestic production so that the trade deficit does not widen.
For businesses, especially in food, pharmaceuticals, tourism and technology, the Indian market is a large but demanding opportunity that requires investments in quality, certifications and distribution networks.
At the national-economy level, turning Greece into an IMEC hub and India’s gateway to Europe can strengthen infrastructure, transport and energy projects, with positive secondary effects on employment and public revenues.
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