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Greece offers investment opportunities: Karamanlis

Special Correspondent

PHOTO: V. SUDERSHAN

Prime Minister Manmohan Singh welcomes his Greek counterpart, Kostas Karamanlis and his wife Anastasia Pazaiti in New Delhi on Friday.

NEW DELHI: Prime Minister of Greece Kostas Karamanlis on Friday said that liberal tax reforms, a new investment law, a 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.

Addressing a meeting with Indian industries, organised jointly by the FICCI, the CII and the ASSOCHAM, Mr. Kostas Karamanlis said, to further strengthen the institutional framework between two countries priority should be given to the 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 Greece had 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- Inter-connector) 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.

Further highlighting the bilateral relations between two countries Kamal Nath, Union Minister of Commerce and Industry said: “India is a global service provider in the field of IT and software sector.” The agreement on cooperation in Science & Technology would also provide a basis for greater engagement in innovative areas and enhanced cooperation. He said major IT companies such as Infosys, TCS, and 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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