India invites Greek Co to invest in mfg, agri sectors

New Delhi, Feb 8 (UNI) With a view to strengthen bilateral economic relationship with Greece, India today invited the Greek companies to invest in manufacturing and agriculture sectors.

''To enhance bilateral relationship, there is a need to increase investment in agriculture and manufacturing sectors,'' Minister of State for External Affairs Anand Sharma said at a 'India-Greece Business Forum' organised by industry chamber FICCI here today.

The bilateral trade between India and Greece stood at 620.47 million dollars in 2005-06, while Greece contributed only 0.25 per cent of the total trade to India.

The minister also urged the industry chambers to examine agriculture and look into energy sector to avoid dependency on fossil fuels and hydrocarbons.

He said India's investment in construction and infrastructure sector will go upto 320 billion dollars by the next five year.

The total exports from India to Greece was at 564.09 million dollars for the year 2005-06, while imports stood at 56.37 million dollars.

Greek companies in construction and infrastruture related businesses could benefit by participating in infrastruture projects, individually or jointly with Indian partners, Mr Sharma said.

Mr Sharma emphasised to increase educational links and initiate cooperation between the scientific and academic communities of Greece and India, which will enble joint research in areas such as energy, biotechnology, information and commnication technology and other areas.

Meanwhile, Greece Minister (Ecomomy and Finance) George Alogoskoufis said, ''We can increase trade, investment and tourist flows between our countries. We can work together even more closely in order to reap the benefits of global economic integration.'' The Indian market offers enormous potential for Greek products and Greece has a lot to offer to the Indian economy, Mr Alogoskoufis added.

UNI