India Boosts Trade with Greece and Cyprus, Boycotts Turkey and Azerbaijan

India is shaking up its global trade game.! The first India–Greece–Cyprus (@IGC) Business Forum, held in Athens on May 15th, 2025 marks a bold step to strengthen business ties with Greece and Cyprus. Meanwhile, India is boycotting Turkey and Azerbaijan for backing Pakistan during Operation Sindoor, sparking heated debates online. From tourism to tech, this shift is rewriting India’s economic map, and social media is buzzing with reactions. Dive into the details of this game-changing move.!

Details & Context
On May 15th, 2025 Athens hosted the inaugural India–Greece–Cyprus (@IGC) Business Forum, organised by the Indian Chamber of Commerce (@ICC) and Eurobank with support from Greece’s Foreign Ministry. The event, held at the National Art Gallery – Alexandros Soutzos Museum, launched the IGC Business Investment Council to boost trade and investment among the three nations. Over 30 top business leaders from India and Greece discussed opportunities in infrastructure, tourism, shipping, startups, technology, food and beverages and financial services.

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The forum comes amid India’s boycott of Turkey and Azerbaijan, triggered by their support for Pakistan during Operation Sindoor. Turkey supplied drones used in attempted attacks on India and both nations openly backed Pakistan ignoring India’s aid during Turkey’s 2023 earthquake via Operation Dost. X posts like those from @IndiaToday highlight public outrage with users calling for a complete boycott of Turkish and Azerbaijani tourism and businesses. Indian travel companies have cancelled tours to these countries, redirecting tourists to Armenia, Greece and Cyprus.

The second IGC Forum took place in Limassol, Cyprus on May 16th, 2025 reinforcing plans under the India-Middle East-Europe Economic Corridor (@IMEC). Eurobank announced plans to open an office in Mumbai by late 2025 and signed an MoU to introduce India’s UPI digital payment system in Greece. These moves signal India’s pivot toward stronger economic alliances with Greece and Cyprus, positioning them as gateways to Europe.

Quotes

· Tassos Hadjivassiliou, Greece’s Deputy Foreign Minister: “This forum marks the dawn of a new era. India, Greece and Cyprus working together will bring prosperity to all three nations.”

· Fokion Karavias, Eurobank CEO: “This partnership will solidify economic ties. Greece and Cyprus can be India’s entry points to Europe and we’re excited to bring UPI to Greece.”

· X User (@BharatVoice): “India’s boycott of Turkey and Azerbaijan is spot-on.! Time to support allies like Greece and Cyprus. #BoycottTurkey”

· Shiv Sena Leader Murji Patel: “Turkey supports Pakistan while profiting from India. We demand their contracts, like at Mumbai Airport, be cancelled!”

Additional Information
India’s boycott of Turkey and Azerbaijan is gaining momentum. In 2024, Indian tourists contributed ₹4000 crore to Turkey’s economy but cancellations are now hitting hard. X posts from @ANI report Indian travel agencies scrapping Turkey and Azerbaijan packages with Armenia emerging as a new favourite. Azerbaijan’s condemnation of India’s actions during Operation Sindoor, coupled with Turkey’s President Erdogan calling Pakistan a “valuable brother” on X has fuelled public anger. Pakistan’s PM Shahbaz Sharif’s post thanking Erdogan further inflamed sentiments.

The @IGC Forum’s timing is strategic. Greece’s PM Kyriakos Mitsotakis’ February 2024 India visit laid the groundwork, as noted in X posts by @MEAIndia. Discussions at the forum involving companies like GMR Airports, LTIMindtree and Coffee Island, focused on practical steps to boost trade. The IMEC corridor, connecting India to Europe via the Middle East is a key driver, with Cyprus and Greece as critical hubs. Social media buzz, especially on X, highlights excitement over UPI’s potential in Greece, with #UPIinGreece trending.

Impact Analysis
India’s pivot to Greece and Cyprus could reshape regional trade dynamics. The @IGC Council aims to increase bilateral trade, potentially adding billions to India’s economy by 2030. Greece and Cyprus gain from India’s massive market while India secures European access without relying on Turkey. The boycott, however risks short-term losses for Indian businesses tied to Turkey, though redirecting tourism to Armenia and Cyprus could offset this.

Social media engagement is soaring with #BoycottTurkey and #IGCBusinessForum trending on X. @GoogleTrends shows spikes in searches for “India Greece trade” and “Turkey boycott India 2025” reflecting public interest. The boycott has hit Turkey’s tourism sector with Indian cancellations causing a projected 20% revenue drop, per X posts by @BusinessToday. Conversely, Greece and Cyprus are seeing a surge in Indian tourist inquiries, boosting their economies.

Politically, India’s stance strengthens its global image as a nation that rewards allies and punishes adversaries. However, Turkey’s unyielding support for Pakistan, as reiterated by Erdogan, could escalate tensions. The @IGC Forum’s success hinges on sustained momentum with X users like @IndianExpress urging follow-up actions to maintain trade growth.

Conclusion
India’s bold trade push with Greece and Cyprus coupled with its boycott of Turkey and Azerbaijan is a masterstroke in economic diplomacy. The @IGC Business Forum signals a new chapter of prosperity while the boycott sends a clear message to nations backing Pakistan. As Indian tourists flock to Armenia and Cyprus and businesses eye Greek markets this shift is rewriting global alliances. Stay tuned for more twists in this high-stakes saga.!

Call to Action (CTA)
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