Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides came together in Limassol for a high-profile business roundtable, marking a pivotal moment in India-Cyprus relations. This is Modi’s first visit to the island nation in over two decades, and it has already set the stage for a new era of strategic collaboration.
Top CEOs and business leaders from both nations engaged in discussions spanning key sectors such as banking, finance, defence, maritime trade, artificial intelligence, digital services, tourism, and mobility. PM Modi showcased India’s economic momentum, declaring it the fastest-growing major economy, with ambitions to soon become the world’s third-largest.
Highlighting India’s global leadership in fintech and digital infrastructure, Modi noted that 50% of the world’s digital transactions are processed through India’s UPI platform. He invited Cypriot firms to invest in India’s booming sectors like civil aviation, green energy, and shipbuilding.
Among the landmark announcements:
- NPCI and Eurobank Cyprus will launch UPI-enabled cross-border transactions, enabling seamless financial exchanges.
- NSE International (GIFT City) signed an MoU with the Cyprus Stock Exchange to deepen capital market collaboration.
Another major milestone was the launch of the India-Greece-Cyprus Business & Investment Council, designed to boost trilateral cooperation in shipping, logistics, renewable energy, and digital trade under the broader India–Middle East–Europe Corridor (IMEC) framework.
With Cyprus set to assume the EU presidency in early 2026, both leaders described the island as a “gateway to Europe.” President Christodoulides termed the visit “historic,” while PM Modi expressed strong optimism about finalizing the India-EU Free Trade Agreement by the end of 2025.
This visit not only strengthens bilateral ties but also positions India as a key strategic and economic partner in Europe, signaling a transformative shift in global trade partnerships.
