Greek Defence Minister Nikos Dendias arrived in New Delhi on February 6 for an official visit running through February 9, at the invitation of Indian Defence Minister Rajnath Singh. During his stay he is scheduled to hold bilateral talks with Rajnath Singh and External Affairs Minister S. Jaishankar to advance defence cooperation and discuss regional security issues. Dendias will also take part in an India–EU Forum discussion on international developments and security, and will travel to Bengaluru to explore collaborations between the Greek and Indian defence industry ecosystems.
The visit comes as India-EU ties have been significantly strengthened by the landmark India–EU Free Trade Agreement (FTA), finalised and signed on January 27. The FTA is a modern, rules-based pact designed to deepen market integration between the two economies and address contemporary global challenges. The combined India–EU market is estimated at about Rs 2,091.6 lakh crore (roughly USD 24 trillion), offering new commercial opportunities for two billion people.
Key trade and market outcomes from the FTA:
– Preferential market access covers more than 99% of India’s exports by trade value.
– India secured preferential access across 97% of tariff lines, covering 99.5% of trade value.
– Immediate duty elimination applies to 70.4% of tariff lines, accounting for 90.7% of India’s exports, notably in labour-intensive sectors such as textiles, leather and footwear, tea, coffee, spices, sports goods, toys, gems and jewellery, and certain marine products.
– A further 20.3% of tariff lines will reach zero duty over three to five years; 6.1% will receive tariff reductions or tariff-rate quotas for products including cars, steel, and specific shrimp and prawn items.
– India is offering duty elimination or reduction on 92.1% of its tariff lines, covering 97.5% of EU exports; 49.6% will be eliminated immediately and 39.5% phased out over five to ten years.
Recent trade figures underscore the potential: bilateral merchandise trade stood at about Rs 11.5 lakh crore (USD 136.5 billion) in 2024–25, with India exporting roughly Rs 6.4 lakh crore (USD 75.9 billion) to the EU. Services trade reached Rs 7.2 lakh crore (USD 83.1 billion) in 2024.
The FTA aims to bolster employment and competitiveness: sectors currently facing EU duties of 4–26%—together worth over Rs 2.87 lakh crore (USD 33 billion) in exports—will enter the EU duty-free when the agreement takes effect. The deal supports MSMEs through aligned rules of origin, self‑certification, and special flexibilities (including quotas for shrimps, prawns, and downstream aluminium products).
On services and mobility, the EU has made commitments across 144 sub‑sectors (including IT/ITeS, professional services, education), while India has opened 102 sub‑sectors (telecommunications, maritime, financial and environmental services among them). The agreement establishes a mobility framework for intra‑corporate transferees, contractual service suppliers, and independent professionals, and includes a commitment to conclude social security agreements within five years. AYUSH practitioners will gain expanded opportunities to provide services in EU markets.
The FTA also strengthens intellectual property protections consistent with TRIPS, recognises India’s Traditional Knowledge Digital Library (TKDL), and enhances cooperation on sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) through digitisation and mutual recognition. Sectoral gains are expected in engineering goods, marine products, leather and footwear, gems and jewellery, textiles and apparel, plastics and rubber, chemicals, medical instruments, and minerals.
Against this economic backdrop, Dendias’s discussions and industry engagements aim to translate broader India–EU momentum into concrete defence partnerships, technology ties, and industrial cooperation between Greek and Indian defence stakeholders.
