The Hindu Business Line : Kamal Nath calls for doubling trade with Greece

New Delhi, Nov 13 The Union Commerce and Industry Minister, Mr Kamal Nath, today said that India and Greece should work towards doubling the bilateral trade to €1 billion by 2010 in the light of the robust growth displayed in the trade volume between the two countries in the last couple of years.

Message to panel

In a message to the fifth session of Indo-Greek Joint Economic Committee held here today, Mr Nath invited the Greek entrepreneurs to invest in the development of India’s infrastructure sectors over the next decade to build and develop various projects in energy, railways, highways and shipping.

Tax pact

He hoped that once the renegotiations of double-taxation avoidance agreement and the implementation of bilateral investment promotion and protection agreement are in place, it would encourage investments in both the countries.

India being an established global service provider in the field of information technology and software, he expressed the hope that co-operation in this sector would also increase.

Export basket

India’s exports to Greece were $672.03 million, consisting mainly of petroleum (crude and products), transport equipment, marine products and cotton yarn, while main imports from Greece include metalliferous ores and metal scraps.

The Deputy Foreign Minister of Greece, Mr Petros Doukas, called on him today.

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