India explores using Greece’s Piraeus Port for boosting exports to the European market

  • August 25, 2023
  • News

According to reports, India is looking to utilise Greece’s Port of Piraeus for its European exports. Discussion is on the cards with the Greece authorities and talks are expected when the honourable Prime Minister of India visits Greece.

Initially, India planned to use Iran’s Chabahar port as a gateway to Europe through the Arabian-Mediterranean corridor, but due the conflict between Armenia and Azerbaijan on the trade lane had created obstacles to the corridor development.

The development of the I2U2 group in 2021 which includes countries like India, UAE, Israel, and the US has improved India’s partnership with Mediterranean states. Through this partnership, India is keen to gain access to European markets using the Piraeus transhipment complex that is managed by the Adani-owned Haifa port and UAE ports.

Over the last decade, India’s alliance with Greece has deepened which resulted in the expanded interest from the Indian Ocean to the eastern Mediterranean. The control of sea routes in these parts is crucial to India’s economic security. Recently, Prof. Michael Tanchum in his research paper for the National University of Singapore mentioned that the evolving multi-modal commercial corridor between India and Greece can change the way trade is happening in the Indian Ocean region, the Middle East and Europe.