During his official visit to Cyprus from June 15-16, Prime Minister Narendra Modi engaged with top CEOs from both India and Cyprus to discuss new avenues for economic partnership and business growth. The interaction, held alongside Cyprus President Nikos Christodoulides in Limassol, emphasized collaboration in sectors such as innovation, fintech, digital technology, renewable energy, and defense.
PM Modi shared a post on X stating, “Boosting business linkages! President Nikos Christodoulides and I interacted with leading CEOs to energize commercial partnerships between India and Cyprus. Innovation, energy, and technology sectors hold great promise. I also spoke about India’s decade-long reform-driven progress.”
The business roundtable featured leaders from various industries, including banking, logistics, shipping, AI, manufacturing, and tourism. According to External Affairs Ministry Spokesperson Randhir Jaiswal, the meeting served to reinforce cross-border ties in trade, technology, investment, and digital services.
Highlighting India’s emergence as the world’s fastest-growing major economy, PM Modi credited policy stability, next-gen reforms, and improved ease of doing business. He stressed India’s commitment to infrastructure development, digital innovation, and green growth. The Prime Minister noted that Cyprus remains a key player in India’s FDI landscape, especially in the financial sector.
A key development was the signing of a Memorandum of Understanding between NSE International Exchange at GIFT City and the Cyprus Stock Exchange. Additionally, NPCI International and Eurobank Cyprus reached an agreement to introduce UPI-based cross-border payments—a move expected to benefit both businesses and tourists.
The launch of the India-Greece-Cyprus (IGC) Business and Investment Council was also announced. This trilateral platform aims to promote collaboration in shipping, civil aviation, logistics, clean energy, and digital transformation.
The Cypriot government reaffirmed its intention to expand economic collaboration with India, expressing optimism about Cyprus becoming a strategic gateway to Europe for Indian companies. In a post on X, the Cyprus Presidency called the interaction a step into a “new era of partnership built on shared values, trust, and innovation.”
As Cyprus prepares to hold the presidency of the European Union Council next year, both leaders pledged to deepen the India-EU Strategic Partnership and expressed hope for the early conclusion of the India-EU Free Trade Agreement, which would significantly boost economic exchanges.
Prime Minister Modi concluded that the roundtable had yielded actionable ideas that would shape a structured economic roadmap for long-term growth, innovation, and strategic collaboration between India and Cyprus.
