Context:
The forthcoming state visit of Greek Prime Minister Kyriakos Mitsotakis to New Delhi on February 21-22 marks a crucial step in the development of a strategic relationship between India and Greece. This process was initiated with the historic visit of Indian Prime Minister Narendra Modi to Greece in August 2023, generating significant enthusiasm in Greece at the highest political levels and among business leaders who recognized the considerable opportunities offered by a strategic partnership with India.
Relevance:
GS-2
- Bilateral Groupings and Agreements
- Groupings and Agreements Involving India and/or Affecting India’s Interests
Mains Question:
The political determination to move Greece-India ties forward is linked to the view by Athens that India is both an old and traditional friend, and a rising power. Analyse. (15 Marks, 250 Words).
Security and Stability:
- The significance of security and stability is paramount for both Greece and India, as they find themselves strategically positioned in regions that are geopolitically sensitive. They are not only crucial to the global system but are also prone to geopolitical volatility.
- Recent events in the Red Sea highlight that the well-being of the East Mediterranean region, where Greece is situated, is intricately tied to the security, stability, and prosperity of the Indian Ocean region.
- There is a heightened awareness among the political leadership in India and Greece about the compelling strategic reasons and the urgency to establish a strategic relationship between the two countries.
- This recognition stems from the understanding that the security, stability, and prosperity of their respective regions are interconnected, emphasizing the need for collaboration and cooperation between Greece and India.
- Greece perceives India not only as an old and traditional friend but also as a rising great power in the rapidly evolving global landscape.
- Accompanying Mr. Mitsotakis will be a high-level Greek business delegation, comprising leaders who view India not only as a gateway to Asia but also as a manufacturing base for their global operations.
Cooperation at Various Levels:
- In anticipation of the visit, Mr. Mitsotakis expressed his determination to enhance bilateral ties and collaboration across various domains.
- He emphasized that “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.”
- Collaboration across various fronts, encompassing strategic, military, and business aspects, has been progressing steadily, albeit at a measured pace.
- Over the years, the Indian Navy and Indian Air Force have engaged in joint exercises with the Greek armed forces, with reciprocal exercises in the planning stages.
- Business interactions have also been evolving. For instance, an Indian construction company is collaborating with a prominent Greek construction firm in constructing a new airport on the island of Crete.
- Notably, a significant Greek systemic bank has partnered with a major Indian financial institution to globally distribute mutual fund products.
- Another noteworthy development is the substantial long-term investment in Greece by Indian-Canadian billionaire Prem Watsa, the founder and CEO of Fairfax Financial Holdings.
Way Forward:
- With the economic reforms implemented by the Mitsotakis government in the last five years propelling the Greek economy toward a more sustainable growth trajectory, Greece is strategically positioning itself as the dependable eastern flank of both the European Union (EU) and the North Atlantic Treaty Organization in the Eastern Mediterranean.
- Simultaneously, as Greece develops its defense industry, the prospect of establishing the India-Middle East-Europe Economic Corridor (IMEEC) is becoming increasingly significant.
- This corridor aims to enhance economic connectivity, and it is anticipated that Greek and Indian businesses will discover numerous compelling reasons to collaborate.
- Greece, a staunch advocate for deeper EU-India relations, is actively working towards the swift conclusion of the EU-India bilateral trade and investment agreement (BTIA).
- This initiative is poised to serve as an additional catalyst for strengthening bilateral economic ties between Greece and India.
- There is considerable potential for expanding connections between Greece and India, emphasizing the importance of fostering stronger people-to-people ties to preserve the heritage of their ancient linkages.
- It is crucial to make efforts to maintain familiarity with each other even as both Greece and India undergo modernization. This can be achieved through increased university student exchange programs, enhanced cultural exchanges, and greater cooperation in the media.
- Collaborative efforts between think tanks in both countries should focus on building more scholarly connections, and there should be a concerted effort to establish additional travel links between the two nations.
Conclusion:
The frequent exchange of visits by political leaders from Greece and India within a short time frame not only underscores their determination to advance the relationship but also highlights the urgency they attribute to this task. The onus now falls on government policymakers and businesses to follow this lead. The year 2024 holds particular significance for the world and Europe, emerging as a critical period in the development of the strategic partnership between Greece and India.
