President Ram Nath Kovind
President Ram Nath Kovind

President Kovind invites Greek companies to invest in India

ANI | Updated: Jun 19, 2018 16:41 IST

Athens [Greece], Jun 19 (ANI): President Ram Nath Kovind on Tuesday urged Greek shipping, agriculture, food processing, tourism, infrastructure, technology, defence and start-up companies to invest in India.
Addressing the India - Greek Business Forum meeting here, President Kovind said there were lucrative opportunities for the Greek shipping industry in India's ambitious Sagarmala project.
He also touched upon other opportunities to collaborate in defence manufacturing, pharmaceuticals, tourism, real-estate, entertainment, infrastructure and technology sectors.
"There are opportunities for us to collaborate in defence manufacturing, pharma, real estate, entertainment and technology sectors. Both nations have strong renewable energy program especially in the solar energy sector," President Kovind added.
President Kovind said the bilateral trade between India and Greece is currently pegged at USD 530 million and is way below potential. With effort, it could be possible for both nations to cross USD 1 billion mark in the next few years.
Underscoring the clear complementarities between the Indian and Greek economies, President Kovind said both countries were true ancient civilisations, as their economic trade and cultural exchange go back to 2,500 years.
President Kovind said India is the world's fastest-growing economy and is projected to become a five trillion US dollar economy by 2025.
Highlighting the developmental policies such as Make In India, the Smart Cities project and Skill India, he further said that the introduction of the Goods and Services Tax (GST) and the recent rise in Ease of Doing Business rankings was helping business establishments to grow and prosper in India.
President Kovind appreciated the Greek government's gesture for extending their invitation to India to participate in the Thessaloniki International Fair to participate in September 2019.
"I expect the Chambers of Commerce, Export Promotion Council and all industry groups to participate in the event and make it a grand success," he added.
Expressing optimism about India making its presence globally in sectors such as Information Technology (IT), entertainment, pharmaceuticals, infrastructure, automobiles, energy, technology and hospitality sectors, the President said tourism is a potential area for developing skills.
President Kovind described his discussions with Greek President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras as pathbreaking for the future of bilateral ties.
President Kovind will leave for Suriname later in the day. (ANI)