What Happened
- PM Modi met Greek PM Kyriakos Mitsotakis on the sidelines of the India AI Impact Summit 2026 in New Delhi.
- Both leaders agreed that the India-EU Free Trade Agreement will open new avenues for trade and investment, leading to higher technology collaboration, investments, and job creation.
- They discussed strengthening cooperation through the India-Middle East-Europe Economic Corridor (IMEC), with Greece positioning itself as India's gateway to Europe.
- Mitsotakis is visiting India from February 18-19, 2026, combining the AI Summit attendance with bilateral discussions.
Static Topic Bridges
India-EU Free Trade Agreement — Negotiation History and Current Status
India and the EU launched FTA negotiations in 2007, which were suspended in 2013 due to disagreements on market access, data protection, and intellectual property. Negotiations were formally relaunched in June 2022 after the India-EU Leaders' Meeting. The FTA, now concluded, covers goods, services, investment, government procurement, sustainability, and digital trade. India's FTA strategy has accelerated since 2022 — the country has signed comprehensive agreements with the UAE (CEPA, 2022), Australia (ECTA, 2022), EFTA (TEPA, signed 2024, in force October 2025), UK (May 2025), and Oman (CEPA, December 2025).
- India-EU FTA negotiations: launched 2007, suspended 2013, relaunched June 2022
- India-EU bilateral trade: approximately $120+ billion annually — EU is India's 2nd largest trading partner
- Recent India FTAs: UAE CEPA (2022), Australia ECTA (2022), EFTA TEPA (in force October 2025), UK FTA (May 2025), Oman CEPA (December 2025)
- India has 18+ comprehensive FTAs as of early 2026
- FTA utilisation rate in India: only 20-30% of exporters use FTA benefits
Connection to this news: The India-EU FTA represents the largest and most complex of India's recent FTA negotiations, covering a market of 450 million consumers and complementing the IMEC corridor's infrastructure connectivity.
India-Middle East-Europe Economic Corridor (IMEC)
The IMEC was announced at the G20 New Delhi Summit in September 2023, with a Memorandum of Understanding signed by India, the US, Saudi Arabia, UAE, France, Germany, Italy, and the EU. The corridor comprises two segments: an eastern corridor connecting India to the Arabian Gulf (via sea), and a northern corridor connecting the Arabian Gulf to Europe (via rail through Saudi Arabia, Jordan, and Israel to the port of Haifa). Greece's Piraeus port serves as a key European entry point. The corridor has three pillars: transportation (rail and maritime), energy (interconnected power infrastructure), and digital (fibre-optic cables).
- MoU signed: September 9, 2023, at G20 New Delhi Summit
- Signatories: India, US, Saudi Arabia, UAE, France, Germany, Italy, EU
- Eastern corridor: India to Arabian Gulf (maritime)
- Northern corridor: Arabian Gulf to Europe (rail — Fujairah-Haradh-Haifa-Piraeus-Marseille)
- Three pillars: transportation, energy, digital connectivity
- Seen as alternative to China's Belt and Road Initiative (BRI)
- Greece's role: Piraeus port as gateway to European markets
Connection to this news: Mitsotakis positioning Greece as India's "gateway to Europe" through IMEC directly connects to Greece's ownership of the Piraeus port (now majority-owned by China's COSCO), highlighting the geopolitical competition between IMEC and BRI in European connectivity.
India-Greece Bilateral Relations — Strategic Partnership
India and Greece elevated their relationship to a strategic partnership during PM Mitsotakis's visit to India. The two countries have historical ties rooted in ancient civilisations — Indian philosopher Chanakya and Greek philosopher Aristotle were contemporaries. Greece is a NATO member and a significant player in EU decision-making. The bilateral trade, while modest, has potential for growth especially in shipping, defence, pharmaceuticals, and tourism.
- India-Greece diplomatic relations: established 1950
- Greece is a NATO member (joined 1952) and EU member (joined 1981)
- Target: double bilateral trade by 2030
- Greece's Piraeus port: strategic for both IMEC and BRI
- Shipping sector: Greece has the world's largest merchant fleet by tonnage
- Cultural links: ancient civilisations, Alexander's campaigns in India (326 BCE)
Connection to this news: The Modi-Mitsotakis meeting reflects India's strategy of deepening bilateral ties with individual EU member states while simultaneously negotiating the bloc-level FTA, creating multiple layers of engagement.
Key Facts & Data
- India-EU FTA: negotiations launched 2007, suspended 2013, relaunched 2022
- EU is India's 2nd largest trading partner (~$120+ billion annually)
- IMEC MoU: signed September 9, 2023, at G20 New Delhi Summit
- IMEC signatories: India, US, Saudi Arabia, UAE, France, Germany, Italy, EU
- India has signed 18+ FTAs as of early 2026
- FTA utilisation rate: only 20-30% of exporters use benefits
- India-Greece trade target: double by 2030
- Piraeus port: key European entry point for IMEC