PM Modi, Cyprus President Forge India‑Cyprus Economic Ties in Limassol
New Delhi [India], June 16: In a display of strategic optimism and mutual respect, Prime Minister Narendra Modi and President Nikos Christodoulides of Cyprus led a high-impact business roundtable in Limassol today.
New Delhi [India], June 16: In a display of strategic optimism and mutual respect, Prime Minister Narendra Modi and President Nikos Christodoulides of Cyprus led a high-impact business roundtable in Limassol today. This meeting, attended by senior leaders and entrepreneurs from both nations, set a clear tone: India‑Cyprus economic ties are ready to chart a new growth trajectory.
Spanning sectors from finance to logistics, defence to AI, and tourism to quantum technologies, the session reflected an evolving partnership.
India’s rapid ascent: A call to collaboration
PM Modi celebrated India’s remarkable rise over the past 11 years, from the world’s fastest‑growing major economy to the fifth-largest, with ambitions to rank third globally. He credited this success to a stable political environment, transparent policies, and robust ease-of-doing-business initiatives.
He highlighted areas where India excels, civil aviation, ports, shipbuilding, digital payments, and green energy, with clear invitations for Cypriot expertise and investment. Emerging frontiers like AI, quantum computing, semiconductors, and critical minerals also emerged as prime zones for cooperation.
Financial bridges and fintech breakthroughs
Highlighting Cyprus as a prized FDI destination for Indian investors, both leaders welcomed two hallmark developments:
- An MoU between NSE International Exchange (GIFT City) and the Cyprus Stock Exchange to deepen financial sector collaboration.
- A landmark partnership between NPCI International Payments and Eurobank Cyprus, enabling UPI-based cross-border digital payments, benefiting tourists and businesses alike.
These initiatives underscore a modern financial framework that transcends geography, powered by technology and interoperability.
Trilateral synergy: India–Greece‑Cyprus Council launched
The gathering also witnessed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council, a trilateral bridge designed to foster cooperation across shipping, logistics, renewable energy, civil aviation, and digital services
Positioned as a collective gateway to global markets, the IGC Council exemplifies a collaborative vision that aligns three nations on growth-focused infrastructure, smart logistics, and technology pathways.
Έφθασα στην Κύπρο. Εκφράζω την ευγνωμοσύνη μου στον Πρόεδρο της Κύπρου, Κο. Νίκο Χριστοδουλίδη για την ξεχωριστή χειρονομία και για την υποδοχή μου στο αεροδρόμιο. Αυτή η επίσκεψη θα προσθέσει σημαντικές ώθηση στις σχέσεις Ινδίας-Κύπρου, ειδικά σε τομείς όπως το εμπόριο, τις… pic.twitter.com/Vkc2mwP10a
— Narendra Modi (@narendramodi) June 15, 2025
EU Presidency & Free Trade Agreement on the horizon
With Cyprus poised to assume the EU Council Presidency in 2026, both leaders emphasized a strengthened India‑EU strategic partnership. Optimism is high for concluding the long-awaited India‑EU Free Trade Agreement by year-end, an accord that promises to catalyze trade, investment flows, and innovation across both regions.
Building the roadmap: From dialogue to delivery
PM Modi stressed that the session generated pragmatic suggestions that will be transformed into an actionable economic roadmap. The strategy aims to cement long-term collaboration in trade, innovation, and strategic sectors, reinforcing the core message: India‑Cyprus economic ties are entering a dynamic new phase.
In summary
The Limassol business roundtable was a deliberate step towards deepening India‑Cyprus economic ties. With high-level MoUs, technology framing, and a trilateral council, both nations are signalling a shift from goodwill to structured action.
For business leaders, investors, and economic partners, this sets the stage for collaborative ventures in fintech, infrastructure, digital innovation, green development, maritime, and beyond. As Cypriot President Christodoulides aptly noted, “Today, we are building more bridges… entering a new era of strategic partnership”
This summit in Limassol embodies a shared vision: that India‑Cyprus economic ties aren’t just aspirational, they’re being fortified with clarity, intent, and momentum.
