EU-India Trade Pact Could Lower Barriers for Greek Olive Oil Exports

By Costas Vasilopoulos

Mar. 3, 2026 14:22 UTC

Summary

A landmark free trade agreement between the EU and India is expected to open a new route for Greek olive oil to the East by eliminating tariffs on exports, potentially boosting the country’s presence in India’s market. The agreement aims to reduce costs for European producers and exporters, with projections showing rapid growth in India’s olive oil market in the coming years, but Greek industry observers warn of competition from established Spanish and Italian exporters.

A new route for Greek olive oil to the East could open after a landmark free trade agreement was struck between the European Union and India in January.

Often termed “the mother of all deals,” the EU-India pact aims to eliminate tariffs on around 99 percent of imports from India to the bloc and remove or reduce tariffs on 96 percent of European products exported to India.

According to the European Commission, the agreement is expected to save EU producers and exporters around €4 billion annually in duties paid on exports to the world’s most populous country.

For European olive oil, the existing import levy of up to 45 percent to India would be phased out over five years after the trade agreement formally enters into force, potentially narrowing the price gap that has limited demand.

Indians traditionally use a range of edible oils, including sunflower, coconut, safflower and palm oil. Olive oil — also known as jaitun oil in India — has emerged as a healthier alternative, particularly among the country’s middle class.

Market analysts have projected that India’s olive oil market will grow rapidly in the coming years, reaching $253 million by 2030 from $89 million in 2023.

Industry representatives previously told Olive Oil Times that the main barrier for Indian consumers is the higher price of olive oil compared with other edible oils, a challenge examined in a recent Olive Oil Times report on India’s growth potential and constraints.

Supporters of the deal argue that gradually eliminating the import levy would help reduce that disadvantage over time by lowering costs along the supply chain.

Greek media welcomed the EU-India agreement as a “historic opportunity” for Greek agrifood products to gain traction in India’s market.

Manolis Giannoulis, head of the Greek olive oil interprofessional, said that “any reduction in tariffs or costs is in favor of European and, by extension, Greek olive oil,” adding that it would make access easier for consumers in third-country markets.

However, some Greek industry observers cautioned that Spanish and Italian exporters already have a strong presence in India, raising the stakes for Greek producers to differentiate themselves through coordinated promotion of branded oils.

“Now is the time for extroversion,” they said. “Otherwise, we will witness again Greek olive oil exported to Italy in bulk and then being sold in Mumbai as Italian olive oil.”

Trade figures underscore how small Greece’s current footprint is. Data reported in the United Nations Comtrade Database show that Greece exported 11.75 tons of olive oil to India in 2024, valued at $114,230.

The same Comtrade Plus trade flow data highlight the scale of the competition in a market where established suppliers already dominate distribution channels.

By comparison, World Bank WITS/Comtrade figures indicate that India imported about 1.6 million kilograms of olive oil, worth more than $15 million, from Spain, its largest supplier, in 2024.

Meanwhile, Greek exporters of table olives have also expressed interest in India.

Pemete and Doepel, Greece’s two main table olive associations, have called on the Greek government and the European Commission to clarify whether table olives are included in the EU-India agreement and would therefore qualify for reduced tariffs.

“There has been no information so far as to whether table olives are included in the list of products that will receive preferential treatment,” Doepel said in an announcement.

“The experience from the EU-Mercosur agreement has already created a negative precedent for the sector… We expect clear answers from the competent Greek and European authorities on how to ensure that a primarily export product, such as table olives, will not be sacrificed again in the context of broader trade negotiations.”

EU-India Trade Pact Could Lower Barriers for Greek Olive Oil Exports

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