Indian businesses, focusing on drone and artificial intelligence technologies, are expressing interest in collaborating with Greek entities and companies in the defense technology sector, as they seek a base of operations within the European Union.
The growing interest was highlighted on the sidelines of the Greece-India Business Forum and B2B meetings held in Athens, a few weeks after Greek Prime Minister Kyriakos Mitsotakis visited New Delhi and met with his Indian counterpart, Narendra Modi, at the AI Impact Summit.
The event was organized by the Athens Chamber of Commerce and Industry (ACCI) in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI), Enterprise Greece, and the Embassy of India in Athens.
Greece – India Strategic Cooperation
At the opening of the forum, the Ambassador of India to Greece, Rudrendra Tandon, referred to the strategic partnership the two countries have been developing in recent years, noting that, despite increased business interest, there are still challenges for companies to enter the respective markets.
In this context, a memorandum of understanding was signed in 2024 between FICCI and the Hellenic Chamber of Commerce and Industry to establish an institutional mechanism to support businesses seeking to expand into both markets.
Collaborations in the defense tech sector
As reported by Gayatri G Prasad, director of international affairs at FICCI, Indian companies are considering collaborations in Greece across the defense industry, construction sector, and information and communication technologies (ICT).
The focus is mainly on unmanned systems (drones) and artificial intelligence applications.
Companies considering partnerships
Among the companies considering expansion into the European market through Greece is Zuppa Geo Navigation Technologies, a deep-tech company active in developing drone technologies.
The company has developed a patented autopilot architecture for unmanned aerial vehicles, a technology that – according to its representatives – is available in only seven countries worldwide. Zuppa already provides solutions to the Indian military and is considering creating partnerships with European companies to develop drone production capabilities in Europe.
At the same time, ATHES Automotive Engineering, a company active in defense engineering and military equipment support, also expressed interest in operating in Greece.
The company’s co-founder and CEO, Arun Chakravarthy Radha Krishnan, said that the company is considering partnerships with Greek entities or businesses and does not rule out creating a business presence in the country.
ATHES already provides technological solutions to 14 armed forces internationally, focusing on reducing the production time of critical components for military vehicles.
Greece as a gateway to the European market
The increase in defense spending in Europe, as well as the availability of European financial tools for research and development in the defense industry, are key incentives for Indian companies considering expansion in the region.
In this context, Greece is considered a potential hub of activity, functioning as a gateway to the European market and NATO countries.
Gayatri G Prasad underlined that economic relations between Greece and India are at a critical turning point, to double bilateral trade by 2030 and strengthen Greece as India’s strategic gateway to Europe.
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