Competition for the economic corridor promoted by India is changing Greece’s calculations on its aspirations, specifically because of Donald Trump’s favor of Italy.
India’s pursuit of channeling its trade to Europe and the US through the IMEC (India-Middle East-Europe Economic Corridor) creates new calculations because it is a trade corridor that is completely competitive with the Chinese Belt and Road Initiative (BRI). This brings back to the fore the role of our country and its ports as an economic gateway to the European Union.
The Indians made it clear as early as February 2024, when Prime Minister Kyriakos Mitsotakis visited New Delhi, that they would like to cooperate with Greece on this level. How? By acquiring and utilizing its port infrastructure.
It should be noted here that, based on the IMEC plan, our country is already seen as India’s commercial gateway to Europe. Therefore, they also see its participation in the mega project as a very important aspect of this strategic partnership, something that Mitsotakis also encouraged during his visit there.
It was also then, in contacts that the former HRADF (now the Superfund) had, that presentations were made of the country’s port system and its ports, such as Lavrio, Patras, and Alexandroupolis (before it was decided that this particular one would remain under state control).
According to Greek port industry sources, who wished to remain anonymous, the Indians initially favored the port of Thessaloniki, mainly because of its size and direct access to the Balkans, but also because of a railway line. However, other alternatives were added along the way since the port of Thessaloniki was unavailable.
Italy, France, and the USA. However, third countries—competitors to Greece—have recently appeared on the horizon, claiming the role of Indian partners. Indicatively, Italy is mentioned first and France last. Specifically, by the decision of Prime Minister Meloni, the Italians withdrew from the Chinese BRI and declared themselves supporters of IMEC, proposing to the Indians the port of Trieste as the end of their trade route to Europe.
For their part, the French, and especially President Emmanuel Macron, are proposing the port of Marseille. US President Donald Trump recently joined the fray, describing IMEC as “one of the greatest trade routes in history” during his meeting in Washington with Indian Prime Minister Narendra Modi. However, he referred to Italy as a bridge country, not Greece.
For now, it is a given that Indians prefer our country. This is because they will have direct and fast access to all of Eastern Europe beyond the others. However, it is a given that we are dealing with a complex geopolitical “game,” which includes the new framework of Putin-Trump relations, the role of the Israelis (since the Indians control a port in Haifa), the Meloni-Trump approach, and India-Greece and EU-India relations.
Finally, the good relations between India and Russia complete the puzzle. Most of those involved do not look favorably on the “Chinese expansion” in Europe. At the same time, China maintains good relations with our country since Cosco controls the Port of Piraeus.
Finally, it should be noted that after the recent developments with the cancellation of the tender for the Volos Port Authority (VPO), a window opens for the Indians to exploit this particular port if they wish. Although the port seems small in relation to their aspirations, it could nevertheless be a start.
Lambros Karageorgos is a columnist for OT.
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