As a member of the European Parliament’s Committee on Foreign Affairs, as well as the delegations for relations with the United States, India, the United Kingdom, and the countries of Southeast Asia.
I maintain that the EU-India rapprochement, as well as that between Greece - India, can shape new geopolitical balances beneficial to our country, bolster security in the region, and strengthen Europe’s declining competitiveness. Specifically:
Economy, Geoeconomics, and Competitiveness
India is no longer merely an emerging power. It is already one of the key pillars of the new international system taking shape before our eyes. With a population nearing 1.5 billion people, a GDP exceeding $4.1 trillion, and an annual growth rate approaching 6.5% by 2026, it is one of the fastest-growing major economies on the planet. At the same time, as the world’s largest democracy and a dominant power in the Indian Ocean, it holds a pivotal position in the geopolitical equation of the 21st century.
India’s geography is just as important as its economy. It controls critical maritime trade and energy routes, while its proximity to China and Pakistan makes it a key factor for stability in the Indo-Pacific. It is no coincidence that the European Union is now turning with greater determination toward New Delhi.
Europe views India as a reliable strategic partner in an increasingly competitive international environment. Strengthening relations with India contributes to the diversification of supply chains, reduces reliance on Chinese production, and creates new opportunities for European companies in the world’s largest market.
On the other hand, India also has every reason to seek closer cooperation with Europe. Its trade deficit with China exceeds $100 billion annually, a fact that raises legitimate concerns about its economic autonomy and national security.
This is, therefore, a strategic convergence of interests that goes far beyond trade.
The recent EU–India Summit confirmed this new reality with the adoption of the Joint Comprehensive Strategic Agenda, which covers five key pillars: prosperity and sustainability, technology and innovation, security and defense, connectivity and global challenges, as well as mobility, skills, and people-to-people ties.
At the Delegation for EU-India Relations, we are closely monitoring efforts to deepen this cooperation. We are focusing particularly on the technology sector, where Europe and India have complementary strengths. Cooperation in research, innovation, critical technologies, and supply chain security is becoming increasingly important in an era of intense geopolitical realignments.
The critical question, however, is where Greece stands on this new strategic map.
The Free Trade Agreement between the European Union and India, which is rightly described as “the mother of all agreements,” although not yet ratified, is expected to create enormous opportunities.
However, our concern must be that the benefits do not go exclusively or primarily to the strong industrial economies of Northern Europe, particularly in sectors such as the automotive industry and industrial equipment, sectors in which, unfortunately, Greece has a meager presence.
Greece must not remain a bystander. There are sectors that can take off with the right synergies and planning. For example, the Greek pharmaceutical industry has significant potential for cooperation with the Indian market, particularly in the areas of production, research, and development.
At the same time, the agri-food sector stands to benefit significantly from the gradual removal of trade barriers. A prime example is wine production, as tariffs in India are expected to drop drastically, from 150% to 20%, opening up a new market for high-quality Greek products.
But we need something more to benefit from these major deals: a national strategy. Greece cannot participate on equal terms in the new global economy with a production model that remains trapped in an inward-looking, counterproductive, and damaging “cartelized” economy—one that erodes productive forces through distortions and low added value— “cartelized” economy that erodes productive forces, with distortions and low added value. We need a new development model that will be linked to foreign relations and international trade and will be based on extroversion, innovation, production, and international cooperation.
Security and Defense
However, India-Greece relations are now taking on a new geopolitical significance that goes far beyond the level of bilateral trade or economic cooperation and extends into the realm of security.
Our countries share a common commitment to the Law of the Sea and the principle of peaceful dispute resolution, a fact that creates the conditions for closer coordination in international forums. Such a partnership can act as a force multiplier, strengthening the international standing of both parties during a period of intense geopolitical realignments.
But even at the bilateral level, Athens’ and New Delhi’s foreign policies show significant convergence of strategic interests, particularly regarding the need to maintain stability, respect for international law, and freedom of navigation, even as a counterweight to the Turkey-Pakistan axis in the security environment of the Eastern Mediterranean and South Asia. In this context, deepening bilateral defense cooperation takes on particular significance.
However, beyond potential military equipment partnerships, such as the discussion surrounding the BrahMos missile system, the real stakes lie in the transfer of know-how, cooperation in the defense industry, and the development of domestic production capabilities that will strengthen Greece’s strategic autonomy.
In this context, Greece could propose its participation in the emerging Franco-Indian axis for the production of 6th-generation fighter jets. What sounds ambitious today is, in practice, a step toward the necessary transformation of national defense.
In conclusion: The world is changing rapidly. India is emerging as one of the key players of the new century. Most European countries have already realized this and are acting accordingly. The question is whether Greece will participate by shaping developments and playing a leading role in them, or whether it will continue to be inward-looking.
Let us choose the role of protagonist rather than observer.
* Nikolas Farantouris is a Member of the European Parliament for PASOK/S&D, a member of the European Parliament’s Committee on Foreign Affairs, and a member of the delegations for relations with the United States, India, the United Kingdom, and the countries of Southeast Asia. Professor of European Law at the University of Piraeus.