India is gradually transforming from a “difficult market” into a target market for the Greek food sector, as the strong growth momentum of the Indian economy, the rise of the middle class and the prospect of a drastic reduction in tariffs under the EU-India agreement change the landscape for the agri-food sector.
Although Greek food exports remain low and strongly concentrated in a few categories, the scope for expansion is significant, especially for high-value-added products such as olive oil, feta cheese, fruit and processed foods.
Greek food and beverage exports to India remain limited, although they are clearly improving. In 2024–2025, they amounted to a total of 21.05 million dollars (17.89 million euros based on yesterday’s exchange rate), up 2.3% compared to approximately 20.57 million dollars (17.485 million euros) in 2023–2024, with the increase coming mainly from individual categories and not from a broadening of the product base.
Animal feed preparations continue to play a decisive role, increasing by 5% from approximately 10.00 million dollars (8.5 million euros) in 2023–2024 to 10.50 million dollars (8.92 million euros) in 2024–2025, covering more than 50% of the total in both periods. Next are kiwifruit, with exports of 4.50 million dollars (3.82 million euros) in 2023–2024 and 4.70 million dollars (3.995 million euros) in 2024–2025, currants, which rose by 9% from 3.30 dollars (2.805 million euros) to 3.60 million dollars (3.06 million euros), and apples, which increased by 11% from 0.75 million dollars (0.63 million euros) to 0.83 million dollars (0.706 million euros). On the other hand, other foods – olives, olive oil, feta cheese, phyllo for pies and confectionery – remain of low value, although they showed the largest percentage increase: from 720 thousand dollars (612 thousand euros) in 2023–2024 to 1.03 million dollars (876 thousand euros) in 2024–2025 (+38.9%).
Kiwi exports declined, partly due to the resurgence of Iranian competition after the lifting of the bans, which also highlights issues of control of origin. In contrast, currant sales almost doubled, confirming that quality and differentiation can act as a competitive advantage even in demanding markets.
The overall picture of food exports, however, confirms that, despite the positive dynamics, the Greek presence in the Indian market remains narrowly concentrated and with limited penetration in high value-added products.
However, the prospects are very significant. It is worth noting that the agricultural sector in India contributes about 18% to GDP and maintains a key socio-economic importance, as it employs over 45% of the country’s workforce, according to data from the Reserve Bank of India. Agricultural performance, which continues to depend to a large extent on weather conditions and the monsoon cycle, directly affects agricultural income and, by extension, private consumption in the region, shaping the overall demand for consumer goods, including food.
In this context, the strengthening of the middle class and the gradual shift in consumption patterns towards higher quality and diversified foods are creating a new field of opportunities for domestic agri-food products. The Indian middle class is showing increasing interest in products such as olive oil, feta cheese, wine and fruits.
India’s macroeconomic outlook further reinforces the importance of the market. According to Deloitte’s India Economic Outlook (August 2025), the country is expected to climb to 4th place in the world in terms of GDP by the end of 2025. Private consumption now accounts for 61.4% of GDP, acting as a key driver of growth, in an environment of de-escalating inflation and strengthening household purchasing power.
EU-India trade agreement plays a key role in future prospects
The elimination or significant reduction of tariffs that currently exceed an average of 36% is radically changing the landscape for the European – and by extension the Greek – agri-food industry. For example, tariffs on wine are expected to be reduced from 150% to 75% upon entry into force of the agreement and gradually to 20%, on olive oil from 45% to 0% within five years, while significant reductions are also foreseen for processed foods, such as baked goods and confectionery. At the same time, tariffs on fruits such as kiwis and pears are being reduced, while they are expected to be zero for fruit juices and certain meat products.
India-Greece: Food processing as an investment bridge to Europe
India is not only a target market for Greek food, but also a potential investment partner in the agri-food sector, especially in processing with an export orientation to Europe. A typical example is the Switz Group, linked to the Indian group Britannia, which has acquired a strong presence in Greece through its subsidiaries.
This strategy allows the Group to utilize the Greek production base as a “gateway” to the European market, bypassing trade and tariff barriers and enhancing the competitiveness of its products.
Source: www.naftemporiki.gr
