Bilateral trade between India and Greece stood at US Dollars 530 million, which is way below what had been achieved in the past, and what possibly could be a reasonable target for the future. As per market survey, with some efforts this can easily be made to cross US Dollars 1 billion in the next few years. “My Government is keen to take lead in this effort. We have accepted the Greek Government’s invitation to be the “Honoured Country” at the Thessaloniki International Fair, Greece’s flagship business event,” shared Mr Ram Nath Covind, President of India in his speech delivered at the recently held “India-Greece Business Forum” meeting. The Thessaloniki International Fair is one of the largest fairs of Greece. It is divided into several thematic structures and open for trade visitors as well as consumers. Many cultural and entertainment events conducted during the fair transform it into a great festival. The Thessaloniki International Fair – TIF will take place on 9 days from Saturday, 08. September to Sunday, 16. September 2018 in Thessaloniki.
“I hope this will give a major boost to our bilateral trade. And while the two Governments are taking lead, we would expect Chambers of Commerce, Export Promotion Councils and Industry Groups to participate in the Thessaloniki fair in large numbers and make our participation a grand success,” the President said. He also maintained that there is immense potential economic, trade and cultural engagement go back over 2500 years. There was flourishing trade network between Greece and India as early as the 3rd century BC.
“India happens to be the fastest growing major economy in the world with a growth rate of 7.7 per cent. We have undertaken an ambitious plan to build next-generation infrastructure including 100 Smart Cities, airports, high-speed trains, highways and cyber connectivity. Last year, we built nearly 10,000 kilometers of national highways – that is 27 kilometers daily, almost double the speed few years ago. Our Sagarmala project proposes to develop a string of new ports including 5 major ports along our vast coastline. It has initiated a robust programme for port led industrialisation and connectivity. We have also designated 111 rivers as National Waterways. In addition, we have opened coastal shipping to international players. These measures will change the way we harness our maritime and inland river transport corridors in India. To boost our manufacturing sector and Make In India programme, we have also undertaken path breaking reforms like GST,” the President highlighted.
Some 30 companies from India, led by the Confederation of Indian Industry, the Federation of Indian Chambers of Commerce and Industry, the Maharashtra Chamber of Commerce, Industry & Agriculture and the Trade Promotion Council of India participated in this business engagement in Greece.