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Economic & Commercial Relations

Greek-Indian ties have been by tradition close and friendly and the last years there is a trend  of expansion of the bilateral  economic and commercial relations.

In March 2000 the Office for Economic and Commercial Affairs of the Embassy of Greece in New Delhi has been established in an effort to promote closer cooperation between the two countries.

AGREEMENTS    
A) Existing legislative context:
1. Tourism Agreement,  
2. 1998 Agreement on Economic Cooperation,
3. 1988 Commercial Agreement, 
4. 1974 Convention on Avoidance of Double Taxation,  1966
5.  Sea transport Agreement,    1958
6 . Agreement on Economic and technological cooperation
B) Cooperation Agreements:
1. Agreement of Cooperation between Athens Chambers of Commerce and    Industry and  FICCI and ASSOCHAM, N Delhi, 1996
2. Memorandum of Cooperation between Confederation of  Greek Industries  and CII,    Athens, 1995
3. Memorandum of  Cooperation between Greek Export Organisation and    ITPO  
C) Pending Agreements:  
1. Memorandum of Understanding in Agriculture (negotiation finalised)
2. Revision of the Taxation Convention
3. Investment Agreement
4. Aviation Agreement    

BILATERAL RELATIONS

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A.  The signing  of the above agreements in the stage of negotiation  will conclude the necessary legal background between the two countries, providing the right field to Indian and Greek entrepreneurs in order promote bilateral trade and investments.  

In the above context, a Greek business delegation visited Delhi and Mumbai ( 21-26 November 1999)  and held meetings with Indian  businessmen involved in a wide range of industrial products and services ( pharmaceuticals, food stuff, aluminium, electric and electronic spare parts, honey, chemicals, information technology etc)

B.  The development of  bilateral trade during the last 5 years is indicated below (data provided by the Greek Statistics Organisation, in 000,000 USD):

               1996               1997                1998                1999           2000

Volume                   137,6               129,5               120,6               132,7           154,1

Imports                    114,2               108,9               110,7               97,9            113,3

Exports                     23,4                 20,6                 9,9                   34,8           40,8

Balance                   -90,8                -88,3                -100,8              -63,1            -72.4

Although in 1999 there a considerable rise of  Greek exports ( against 1998, +251%), the volume of trade between the two countries remains low and it does not reflect the potential that exists.  

C. The range of products traded between the two countries, for the year 1999, includes, among others:
  • Indian Exports To Greece
  • Greek Exports To India
  • Greek imports From India
  • Indian Imports From Greece
  •  
     
    Indian Exports To Greece TOP

    2-digit

    SITC                                        Product                                    Value( 000 USD)

    03                                Fish products                                          11,848

    05                                Fruits & vegetables                                   4,192

    07                                Coffee, tea, cocoa, spices                         2,523

    53                                Leather dyes                                            3,340

    65                                Yarns & Fabrics                                       22,810

    69                                Metal items                                              4,216

    78                                Vehicles                                                   8,945

    84                                Clothes                                                    6,750

    85                                Shoes                                                     1,710  

    Greek Exports To India TOP

    2-digit

    SITC                                        Product                                    Value( 000 USD)

    26                                Fibers                                                   4,905

    27                                Fertilizers                                             1,757

    51                                Organic chemicals                                15,685

    54                                Pharmaceuticals                                   1,422

    61                                Leather items                                        1,658

    72                                Machinery                                           1,685

    73                                Metal process machinery                     3,373

       

    Year 2000

    Greek Imports From India

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    Main Products

    S.No
    Product Name
    Figure (000 $)
    Percentage Figure
    1. Fishes 10,125 8.9
    2. Cotton  7,386 6.5
    3. Artificial Fibers  6,832 6.0
    4. Textiles  8,306 7.3
    5. Vehicles  6,200 5.4
    6. Iron,Steel  5,603 4.9
    7. Fruits  5,860 5.2
    Indian Imports From Greece TOP

    Main Products

    S.No
    Product Name
    Figure (000 $)
    Percentage Figure
    1. Fuel, Oils, Bitumen 16,259 40.0
    2. Caoutsouk  6,470 16.0
    3. Cotton  3,254 8.0
    4. Organic Chemicals  3,343 8.1
    D. Other spheres of activities
    1. The Public Electricity Organisation cooperates with Indian companies for the  procurement of a series of materials.
    2 .The Center for Renewable Sources of Energy  cooperates with the TATA Research Institute aiming at the implementation of projects within the World Bank's projects for SE Asia.
    3. Greek ships are often being repaired in Indian shipyards.
    4. A leading Greek IT Company, Infoquest, has recently initiated a long-term cooperation with its Bangalore based subsidiary Aremis software.
    5. The National Bank of Greece (NBG) is cooperating with TATA Consultancy Services in software applications of NBG's Foreign Investors Department.
    6. A Greek Shipping Company has recently began transporting propane to leading Indian Petrochemical Corporation IPCL.    
    CONCLUSION
    India  moves steadily towards full liberalization of its foreign trade, lifting the barriers imposed in the past  aiming at the production of local products. According to the WTO agreement, by 1st April 2001, all quantitative quotas will be abolished and the import duties will be lowered significantly. This will boost India’s foreign trade and will relieve Greek businessmen, who will be able to enter Indian market without facing any barriers. The effort to explore and penetrate Indian market is via high profile business delegations that  bring in contact the elite of the two business communities aiming  at the conclusion of contracts both in terms of trade and establishment of joint ventures.
    HELLENIC CHAMBERS OF COMMERCE & INDUSTRY TOP
    ATHENS CHAMBER OF COMMERCE AND INDUSTRY
    7 Akadimias, 106 71 Athens
    Tel: 0030-10-3604815/9, 3602411, 3627337
    Fax: 0030-10-3616464
    E-mail : info@acci.gr
    www.acci.gr
    ACHAIA CHAMBER OF COMMERCE & INDUSTRY
    58 Michalakopoulou, 262 21 Patra
    Tel: 0030-610-277779 / 277679
    Fax: 0030-610-276519
    E-mail : ea@patrascc.gr
    www.patrasc.gr
    ARGOLIDA CHAMBER OF COMMERCE & INDUSTRY
    23 Korinthou, 212 00 Argos
    Tel: 0030-7510-67216, 0751063023
    Fax: 0030-7510-24595
    E-mail : ebean@otenet.gr
    ARKADIA CHAMBER OF COMMERCE & INDUSTRY
    25th Martiou & 21 Panos, 221 00 Tripoli
    Tel: 0030-710-227141, 0710237123
    Fax: 0030-710-233738
    E-mail : info@arcadianet.gr
    www.arcadianet.gr
    ARTA CHAMBER OF COMMERCE & INDUSTRY
    M. Grekou & Fleming, 471 00 Arta
    Tel: 0030-6810-28728
    Fax: 0030-6810-78654
    E-mail : info@arta.chambernet.gr
    www.arta.chambernet.gr
    ATHENS CHAMBER OF SMALL & MEDIUM SIZED INDUSTRIES
    18 Akadimias, 106 71 Athens
    Tel: 0030-10-3630253 / 3680700 / 3623830
    Fax: 0030-10-3614726
    E-mail : info@acsmi.gr
    www.acsmi.gr
    ATHENS CHAMBER OF TRADESMEN
    44 Panepistimiou, 106 79 Athens
    Tel: 0030-10-3601651-3 / 3633080
    Fax: 0030-10-3619735
    CHALKIDIKI CHAMBER OF COMMERCE & INDUSTRY
    3 Nikiforou Foka, 631 00 Polygyros
    Tel: 0030-3710-24200 / 24300
    Fax: 0030-3710-24200
    E-mail : epi-chal@otenet.gr
    www.epimelitirio.bizland.com
    CHANIA CHAMBER OF COMMERCE & INDUSTRY
    4 Eleftheriou Venizelou, 731 32 Chania
    Tel: 0030-8210-52329 / 45349
    Fax: 0030-8210-28307
    E-mail : epimel@chania-cci.gr
    www.chania-cci.gr
    CHIOS CHAMBER OF COMMERCE & INDUSTRY
    8 Filippou Argenti, 821 00 Chios
    Tel: 0030-2710-44330-1
    Fax:0030-2710-44332
    E-mail : epimelitirio@chi.forthent.gr
    www.chios.proodos.gr/chamber
    DODEKANISSA CHAMBER OF COMMERCE & INDUSTRY
    88 Afstralias, 851 00 Rodos
    Tel: 003-2410-22281-2 / 23560
    Fax: 0030-2410-22283
    E-mail : info@ebed.gr
    www.ebed.gr

    DRAMA CHAMBER OF COMMERCE & INDUSTRY
    40 L. Lambrianidou, 661 00 Drama
    Tel: 0030-5210-22750 / 22392 / 23346
    Fax: 0030-5210-25835
    E-mail : ccidrama@dramanet.gr

    EVIA CHAMBER OF COMMERCE & INDUSTRY
    12 Venizelou, 341 00 Halkida
    Tel: 0030-2210-23510 / 22885 /86452
    Fax: 0030-2210-80918
    E-mail : epimevia@hol.gr
    www.eviachamber.gr
    EVROS CHAMBER OF COMMERCE & INDUSTRY
    307 Dimokratias Ave., 681 00 Alexandroupoli
    Tel: 0030-5510-26223 / 26537
    Fax: 0030-5510-23253
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    EVRYTANIA CHAMBER OF COMMERCE
    N. Tsiamboula 5, 361 00 Karpenissi
    Tel: 0030-2370-24777 / 23628
    Fax: 0030-2370-80440

    FLORINA CHAMBER OF COMMERCE & INDUSTRY
    19 Megarovou, 531 00 Florina
    Tel: 0030-3850-22334 /22466
    Fax: 0030-3850-28020

    FOKIDA CHAMBER OF COMMERCE & INDUSTRY
    3 Gidogiannou, 331 00 Amfissa
    Tel: 0030-2650-28697 / 23651
    Fax: 0030-2650-22185

    FTHIOTIDA CHAMBER OF COMMERCE & INDUSTRY
    3 Othonos, 351 00 Lamia
    Tel: 0030-2310-22112 / 21395
    Fax: 0030-2310-30985
    E-mail : info@linux.fthiotidoscc.gr
    www.fthiotidoscc.gr

    GREVENA CHAMBER OF COMMERCE & INDUSTRY
    7 Emmanouil Pappa, 511 00 Grevena
    Tel: 0030-4620-85501-5
    Fax: 0030-4620-80310
    E-mail : ebegreve@grevenanet.gr
    www.grevena.chambernet.gr
    IMATHIA CHAMBER OF COMMERCE & INDUSTRY
    3 Kentrikis, 591 00 Veroia
    Tel: 0030-3310-25470 / 29774
    Fax: 0030-3310-25330
    E-mail : chamimat@otenet.gr

    IRAKLIO CHAMBER OF COMMERCE & INDUSTRY
    9 Koronaiou, 712 02 Iraklio Kritis
    Tel: 0030-810-229013 / 342134
    Fax: 0030-810-222914
    E-mail : root@ebeh.gr
    www.ebeh.gr

    ILIA CHAMBER OF COMMERCE & INDUSTRY
    28th Octovriou & Iroon Sq., 271 00 Pirgos
    Tel: 0030-6210-34154 / 32225
    Fax: 0030-6210-31791
    E-mail : ilich-gr@otenet.gr
    www.helia.chambernet.gr

    IOANNINA CHAMBER OF COMMERCE & INDUSTRY
    Trikoupi & 14 Oplarchigou Poutetsi, 453 32 Ioannina
    Tel: 0030-6510-22389 / 26273
    Fax: 0030-6510-25179

    KARDITSA CHAMBER OF COMMERCE & INDUSTRY
    3 Iroon Polytechneiou, 431 00 Karditsa
    Tel: 0030-4410-22334 / 22301
    Fax: 0030-4410-22238
    E-mail : info@karditsa.chambernet.gr
    karditsa.chambernet.gr

    KAVALA CHAMBER OF COMMERCE & INDUSTRY
    50a Omonoias, 653 02 Kavala
    Tel: 0030-510-223325 /223328 / 222257
    Fax: 0030-510-835946
    E-mail : eic157@otenet.gr
    www.chamberofkavala.gr

    KASTORIA CHAMBER OF COMMERCE & INDUSTRY
    60 Mitropoleos, 521 00 Kastoria
    Tel: 0030-4670-28981 / 29528
    Fax: 0030-4670-22442
    E-mail : kastcham@otenet.gr
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    KERKYRA CHAMBER OF COMMERCE & INDUSTRY
    2 Aristotelous, 491 00 Kerkyra
    Tel: 0030-6610-39813-4 / 31998
    Fax: 0030-6610-40088
    E-mail : corfucci@otenet.gr
    cci-kerkyra.gr
    KEFALLINIA & ITHAKI CHAMBER OF COMMERCE & INDUSTRY
    Lithostroto, 281 00 Argostoli
    Tel: 0030-6710-22253 / 24959
    Fax: 0030-6710-22253
    E-mail : chamberk@otenet.gr
    KILKIS CHAMBER OF COMMERCE & INDUSTRY
    11 G. Kapeta, 611 00 Kilkis
    Tel: 0030-3410-24580 - 1
    Fax: 0030-3410-20924
    E-mail : ebekilk@spark.net.gr
    www.gbi.gr

    KORINTHIA CHAMBER OF COMMERCE & INDUSTRY
    2 Ermou, 201 00 Korinthos
    Tel: 0030-7410-26403 / 24464
    Fax: 0030-7410-21173
    E-mail : info@korinthcc.gr
    www.korinthcc.gr

    KOZANI CHAMBER OF COMMERCE & INDUSTRY
    2 I. Farmaki, 501 00 Kozani
    Tel: 0030-4610-34669 / 41693
    Fax: 0030-4610-26839
    E-mail : info@kozani.chambernet.gr
    www.kozani.chambernet.gr
    LAKONIA CHAMBER OF COMMERCE & INDUSTRY
    3 Xanthaki, 232 00 Gytheio
    Tel: 0030-7330-22279
    Fax: 0030-7330-22008
    E-mail : gytheioc@otenet.gr
    LASSITHI CHAMBER OF COMMERCE & INDUSTRY
    17 I. Koundourou, 721 00 Agios Nikolaos Kritis
    Tel: 0030-8410-22231 / 27140
    Fax: 0030-8410-23831
    E-mail : info@oepimlas.gr
    www.epimlas.gr
    LESVOS CHAMBER OF COMMERCE & INDUSTRY
    71 P. Kountourioti, 811 00 Mytilini
    Tel: 0030-2510-28431 / 28564
    Fax: 0030-2510-23275
    E-mail : chamber@les.forthnet.gr
    www.lesvos.proodos.gr/lesvos-chamber
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    MESSINIA CHAMBER OF COMMERCE & INDUSTRY
    6 Christou Koumantou, 241 00 Kalamata
    Tel: 0030-7210-62200
    Fax: 0030-7210-62229
    E-mail : info@kalamata.chambernet.gr

    PIERIA CHAMBER OF COMMERCE & INDUSTRY
    9 Hatzoglou, 601 00 Katerini
    Tel: 0030-3510-23211 / 24311
    Fax: 0030-3510-25124
    E-mail : champier@otenet.gr

    PIRAEUS CHAMBER OF SMALL & MEDIUM SIZED INDUSTRIES
    111 Karaiskou, 185 32 Piraeus
    Tel: 0030-10-4110443 / 4174765
    Fax: 0030-10-4179495
    E-mail : info@bep.gr
    www.bep.gr
    PREVEZA CHAMBER OF COMMERCE & INDUSTRY
    47 Dodonis, 481 00 Preveza
    Tel: 0030-6820-29414
    Fax: 0030-6820-29283
    E-mail : info@preveza.chambernet.gr
    RODOPI CHAMBER OF COMMERCE & INDUSTRY
    2b Vassileos Georgiou, 691 00 Komotini
    Tel: 0030-5310-22831 /36831
    Fax: 0030-5310-26714
    E-mail : ccirodop@otenet.gr
    www.rodoppicci.gr
    SAMOS CHAMBER OF COMMERCE & INDUSTRY
    19 Kountourioti, 831 00 Samos
    Tel: 0030-2730-27332 / 27242
    Fax: 0030-2730-22784
    E-mail : info@samos.chambernet.gr
    www.samos.chambernet.gr
    THESPROTIA CHAMBER OF COMMERCE & INDUSTRY
    13 Kira Vassilikis, 461 00 Igoumenitsa
    Tel: 0030-6650-25529 / 26769
    Fax: 0030-6650-25223
    E-mail : pezo@otenet.gr
    THESSALONIKI CHAMBER OF COMMERCE & INDUSTRY
    29 Tsimiski, 546 24 Thessaloniki
    Tel: 0030-310-275341 / 275983
    Fax: 0030-310-230237
    E-mail : root@ebeth.gr
    www.ebeth.gr

    THESSALONIKI CHAMBER OF SMALL & MEDIUM SIZED INDUSTRIES
    27 Aristotelous, 546 24 Thessaloniki
    Tel: 0030-310-241668 /241689 / 277733
    Fax: 0030-310-232667
    E-mail : info@veth.gr
    www.veth.gr

    VIOTIA CHAMBER OF COMMERCE & INDUSTRY
    1 L. Koutsopetalou, 321 00 Livadia
    Tel: 0030-2610-28281 / 21347
    Fax: 0030-2610-21347
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    KYKLADES CHAMBER OF COMMERCE & INDUSTRY
    1 Konstantinoupoleos, 841 00 Syros
    Tel: 0030-2810-82346 / 80246
    Fax: 0030-2810-86555
    E-mail : info@cycladescc.gr
    LARISSA CHAMBER OF COMMERCE & INDUSTRY
    44 Papakyriaz, 412 22 Larissa
    Tel: 0030-410-536452-3 / 532447
    Fax: 0030-410-257522
    E-mail : info@larissa-chamber.gr
    www.larissa-chamber.gr
    LEFKADA CHAMBER OF COMMERCE & INDUSTRY
    5 D. Makri, 311 00 Lefkada
    Tel: 0030-6450-22381
    Fax: 0030-6450-22381
    MAGNISSIA CHAMBER OF COMMERCE & INDUSTRY
    176 Dimitriados, 382 21 Volos
    Tel: 0030-4210-25680 / 23766
    Fax: 0030-4210-31211
    E-mail : info@magnesia.gr
    www.c-magnesia.gr
    PELLA CHAMBER OF COMMERCE & INDUSTRY
    15 Perdika, 582 00 Edessa
    Tel: 0030-3810-26555-6
    Fax: 0030-3810-29029
    PIRAEUS CHAMBER OF COMMERCE & INDUSTRY
    1 Loudovikou, 185 31 Piraeus
    Tel: 0030-10-4177241-5 / 4179480
    Fax: 0030-10-4178680
    E-mail : evepgr1@acci.gr
    www.ath.forthnet.gr
    PIRAEUS CHAMBER OF TRADESMEN
    3 Agiou Konstantinou, 185 31 Piraeus
    Tel: 0030-10-4121503 / 4126917
    Fax: 0030-10-4122790
    E-mail : prochpir@acci.gr
    www.acci.gr/eep

    RETHYMNO CHAMBER OF COMMERCE & INDUSTRY
    23 Emm. Portaliou, 741 00 Rethymno
    Tel: 0030-8310-22214
    Fax: 0030-8310-55086
    E-mail : eber@otenet.gr

    RODOPI CHAMBER OF TRADESMEN & HANDICRAFTS
    12 Kaviron, 691 00 Komotini
    Tel: 0030-5310-22547 / 34006
    Fax: 0030-5310-25866
    E-mail : info@everpdopi.gr
    www.everodopi.gr

    SERRES CHAMBER OF COMMERCE & INDUSTRY
    2 P. Kostopoulou, 621 22 Serres
    Tel: 0030-3210-99720-1 / 99710
    Fax: 0030-3210-99740
    Telex: 482157 EVES GR
    E-mail : eves@otenet.gr
    www.eves.gr

    THESSALONIKI CHAMBER OF TRADESMEN
    27 Aristotelous, 546 24 Thessaloniki
    Tel: 0030-310-275255 / 220050
    Fax: 0030-310-271649
    E-mail : epepth@otenet.gr

    UNION OF HELLENIC CHAMBERS OF COMMERCE & INDUSTRY
    7 Akadimias, 106 71 Athens
    Tel: 0030-10-3632702 / 3625630
    Fax: 0030-10-3622320
    E-mail : hellas@uhcci.gr
    www.uhcci.gr

    ZAKYNTHOS CHAMBER OF COMMERCE & INDUSTRY
    20 Lombardou, 291 00 Zakynthos
    Tel: 0030-6950-23135 / 41940
    Fax: 0030-6950-23135
    E-mail : zantecci@otenet.gr
    www.zantecci.gr
     
    PUBLIC ORGANIZATIONS TOP
    FEDERATION OF GREEK INDUSTRIES
    5 Xenofontos, 105 57 Athens
    Tel: 0030-10-3237325-9
    Fax: 0030-10-3222929
    FEDERATION OF INDUSTRIES OF NORTHERN GREECE
    1 Morichovou Sq., P.O. Box 10709
    541 10 Thessaloniki
    Tel: 0030-310-539817 / 539947
    Fax: 0030-310-541933
    E-mail : Secretariat@sbbe.gr
    HELLENIC FOREIGN TRADE BOARD (H.E.P.O)
    86-88 Marinou Antypa
    163 46 Ilioupoli
    Tel: 0030-10-9961900-14
    Fax: 0030-10-9961927
    PANHELLENIC EXPORTERS ASSOCIATION
    11 Kratinou, 105 52 Athens
    Tel: 0030-10-5228925 / 5221726
    Fax: 0030-10-5242568
    EXPORTERS ASSOCIATION OF NORTHERN GREECE
    1 Morichovou Sq., P.O. Box 10709
    541 10 Thessaloniki
    Tel: 0030-310-535333 / 547312
    Fax: 0030-310-543232

    HELEXPO THESSALONIKI
    154 Egnatia Street,
    546 36 Thessaloniki, Greece
    Tel: 0030-310-291188 / 291293
    Fax:0030-310-291554
    E-mail : webmaster@helexpo.gr
    www.helexpo.gr

    Hellenic Organization of Small & Medium Size Enterprises & Handicrafts (EOMMEH)
    16 Xenias, 115 28 Athens
    Tel: 0030-10-7701101 / 7715002
    Fax: 0030-10-7712237
    HELLENIC TOURISM ORGANIZATION (Greek National Tourism Organization)
    2 Amerikis, 105 64 Athens
    Tel: 0030-10-3234727 / 3223111-9
    Fax: 0030-10-3238468
    E-mail: info@gnto.gr
    www.gnto.gr
    PIRAEUS PORT AUTHORITY (Organization)
    10 Akti Miaouli, 185 38 Piraeus
    Tel: 0030-10-4520910-9
    Fax: 0030-10-4520852
    THESSALONIKI PORT AUTHORITY (Organization)
    P.O. Box 10467, 541 10 Thessaloniki
    Tel: 0030-310-593911
    Fax: 0030-310-510500
    INCOFRUIT (HELLAS) Assoc. of Greek Export & Consignment Enterprises for Fruit, Vegetables & Juices
    7-9 Sofokleous, 105 59 Athens
    Tel: 0030-10-3249003 / 3249992
    Fax: 0030-10-3253997
    OLYMPIC AIRWAYS
    96 SYNGROU AVE
    11741 ?????S
    Tel: 0030-10-9269111
    Fax: 0030-10-9216777
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