Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides engaged in a high-powered business roundtable, uniting leaders from India and Cyprus across diverse sectors including banking, manufacturing, defence, logistics, and digital technologies.
PM Modi underscored India’s economic transformation over the past decade, highlighting next-generation reforms, policy stability, and ease of doing business. He emphasised India’s rapid advancement in sectors such as civil aviation, shipbuilding, digital payments, and green development, inviting Cypriot enterprises to collaborate on emerging opportunities.
During the event, major agreements were signed, including an MoU between NSE International Exchange GIFT CITY and the Cyprus Stock Exchange, fostering financial sector engagement. A breakthrough understanding was reached between NIPL (NPCI International Payments Limited) and Eurobank Cyprus to introduce UPI for cross-border transactions, benefitting businesses and tourists.
Further strengthening trilateral economic collaboration, the leaders inaugurated the India-Greece-Cyprus Business and Investment Council, poised to enhance trade in shipping, logistics, renewable energy, civil aviation, and digital services.
Expressing optimism, PM Modi reaffirmed India’s commitment to securing the India-EU Free Trade Agreement by the end of the year, marking a new era of strategic partnerships. As Cyprus prepares to assume the EU Council Presidency next year, both leaders pledged to further India-EU cooperation.
The business summit, rich with innovative proposals, laid the groundwork for a structured roadmap fostering sustained economic collaboration between India and Cyprus.
