Greek Prime Minister Kyriakos Mitsotakis has described the India-European Union Free Trade Agreement (FTA) as the “biggest ever” and a mutually beneficial deal. The FTA, signed by Prime Minister Narendra Modi and EU Commission President Ursula von der Leyen, is expected to significantly reduce tariffs, expand trade in goods like olive oil, enhance shipping and logistics collaboration, and strengthen cultural and tourism links between India and Greece.

Strategic Importance of the FTA

Mitsotakis emphasized that the FTA represents a major breakthrough for both Indian and European exporters. He personally lobbied the European Commission to advance the agreement, highlighting its economic potential. The deal opens India’s massive market to European products while giving Indian companies access to EU markets, facilitating trade in sectors including shipping, agriculture, and consumer goods. Greece, as a leading shipping nation, is expected to see direct benefits from enhanced trade and logistics cooperation.

Economic Opportunities for Greece

One significant focus is agriculture and exports, particularly olive oil. Mitsotakis noted that high tariffs on olive oil will decrease substantially, unlocking a major export opportunity for Greek producers in the Indian market. Beyond trade, the deal strengthens the potential for industrial, logistics, and maritime partnerships, as India seeks to grow its shipping and trade infrastructure. Greek companies are expected to benefit directly from this comprehensive agreement, which Mitsotakis described as a “win-win” deal.

Cultural and Tourism Ties

Beyond economics, Mitsotakis highlighted growing cultural connections. Indians are increasingly interested in Greek civilization, while Greeks are showing more interest in Indian culture. The agreement coincides with steps to facilitate travel: non-stop flights between India and Greece, opening of new Greek consulates in Mumbai and Bangalore, and a broader effort to strengthen people-to-people exchanges. Mitsotakis specifically welcomed Indian weddings in Greece, viewing them as a symbol of growing tourism and cultural engagement.

Key Entities

Advocated the FTA and highlighted benefits for Greece.
Signed the India-EU FTA with the EU.
Co-signed the FTA on behalf of the EU.
Location of new Greek consulate.
Location of new Greek consulate.
EU member state benefiting from trade, culture, and tourism links.
South Asian partner in the landmark FTA.
Partner in the FTA facilitating trade with India.

Final Verdict

The India-EU FTA marks a historic milestone in bilateral trade and strategic cooperation. According to Kyriakos Mitsotakis, it will not only reduce trade barriers but also stimulate shipping, agricultural exports, tourism, and cultural exchange between India and Greece. With enhanced connectivity, new consulates, and opportunities for people-to-people engagement, the agreement positions both countries to benefit economically and culturally. Greece’s proactive support, particularly in lobbying for the deal, underscores its role in strengthening India-EU ties and facilitating broader Global South economic cooperation.

Special Blocks – Trade and Connectivity Insight

Initiative	Details	Impact
India-EU FTA	Signed by Modi and von der Leyen	Largest FTA, reduces tariffs, expands trade
Olive Oil Tariffs	Significant reductions	Boosts Greek agricultural exports to India
Shipping & Logistics	Greece-India collaboration	Enhances maritime trade and connectivity
Non-Stop Flights	India–Greece	Facilitates tourism, cultural exchange, weddings
Greek Consulates	Mumbai & Bangalore	Streamlines visa process and strengthens diplomatic presence