Business & Finance

President Kovind: Huge potential for collaboration between India and Greece

There is a huge potential for India and Greece to collaborate in areas like infrastructure, supply chain, energy and services, President Ram Nath Kovind has said as he highlighted investment opportunities in India which is striving to become a USD 5 trillion economy and the world’s third largest consumer market by 2025.

Kovind, the first Indian president to travel to Greece in 11 years, arrived here on Saturday on the first leg of his three-nation tour.

Addressing the diaspora here, he said his visit will strengthen ties between India and Greece. Kovind praised overseas Indians for playing an important role in improving bilateral relations.

“Greece and India presented the ideals of civilisation and culture in the ancient world. The relations between the two countries are very old and deep. Greek historian Megasthenes introduced India to the world through his book ‘Indica’. Greek warrior Seleucus’ daughter was married to emperor Chandragupta. We can find details of the deep relationship between India and Greece in history books ,” the president said.

“We are working towards making India a USD 5 trillion economy and the world’s third largest consumer market by 2025. According to the World Bank and the IMF, our growth rate is going to be high,” he said.

Currently, India’s economy is estimated at USD 2.5 trillion.

Kovind said India had a very strong position in the world with the perspective of democracy, demographic dividend and demand.

India has undertaken many reforms to like the Goods and Services Tax and digitisation to make the economy simple and transparent.

He said there is a huge potential for collaboration between the two nations in infrastructure, supply chain, energy, handicrafts and services as India is trying to improve and expand these areas.

“There is a huge potential between India and Greece to increase business and investment,” he said, adding that the diaspora has a role in strengthening bilateral economic ties.

“We are proud of our overseas Indians and their successes. Today there are plenty of opportunities for business, innovation and investment in India. I hope that whatever you can do for the development of India for the motherland, you will do that,” he said.

He asked the community members to visit the Pravasi Bhartiya Kendra in New Delhi to know more about India.

He invited them to participate in the Pravasi Bhartiya Divas to be held in Varanasi from January 21 to 23 next year.
India-Greece bilateral trade stands at USD 530 million and some Indian companies are also present in the infrastructure, pharmaceutical and steel sectors in the central European nation.

Greece is home to a 12,000-strong Indian diaspora.

Kovind will also travel to Surinam and Cuba during his trip.

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