The Hindu Business Line : Liberalisation opened new opportunities in India: Greece PM

Let’s strengthen ties: The Prime Minister of Greece, Mr Kostas Karamanlis, flanked by the Minister for Commerce and Industry, Mr Kamal Nath (left) and the FICCI past President, Mr Sudhir Jalan, at a meeting with Indian businessmen in the Capital on Friday. —

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New Delhi, Jan 11 Liberal tax reforms, new investment law, law on public-private partnerships, liberalisation of the energy market, reduction in corporate tax rates and simplifications of procedures have opened new investment opportunities for businesses in India, said Mr Kostas Karamanlis, Prime Minister of Greece on Friday.

Addressing a meeting with Indian industries, organised jointly by the Federation of Indian Chambers of Commerce and Industry, the Confederation of Indian Industries and the Associated Chambers of Commerce and Industry of India, Mr Karamanlis said to further strengthen the institutional framework between two countries, priority should be given to signing of the revised agreement on the avoidance of double taxation as well as to the conclusion of the agreement on air transport services.

He said that his country has a strong commitment to the development of economic relations with the Black Sea region, a region of prominent geo-strategic importance due to the abundance of raw materials like oil and natural gas. Therefore, it offers real advantages to Indian companies wishing to take advantage of the opportunities in the wider area of the Balkans and the Black Sea.

Greece, he said, has also promoted a large-scale cross-border project, the Turkey- Greece- Italy natural gas pipeline (TGI- Interconnector), which is expected to be ready in the next five years. This would transform Greece into an energy hub, creating new opportunities for entrepreneurs.

Agriculture, tourism, shipping, renewable energy sources, machinery, pharmaceuticals, packaging and construction materials, processed food and beverages, clothing, cosmetics and information and services are the sectors where Greece and India can enhance bilateral economic relations, he added.

Mr Kamal Nath, Union Minister of Commerce and Industry said, “India is a global service provider in field of IT and software sector. The agreement on cooperation in science and technology would also provide a basis for greater engagement in innovative areas and enhanced cooperation. He said major IT companies such as Infosys, TCS, I-Flex have a presence in Greece and similarly, Greek companies such as Eurodyn, Pisani Group MJ Mailis have invested in India.

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