Nicosia, Cyprus – Prime Minister Narendra Modi held a pivotal roundtable discussion with leading CEOs from India and Cyprus on Sunday, focusing on enhancing economic cooperation between the two nations. The event, which featured a diverse array of participants from sectors such as finance, technology, manufacturing, and logistics, aimed to promote business ties and investment opportunities.
In a social media post, PM Modi highlighted the discussions, stating, "Boosting business linkages! President Nikos Christodoulides and I interacted with leading CEOs to add vigour to commercial linkages between India and Cyprus." He outlined India’s remarkable reform trajectory over the past decade, emphasizing its potential for collaboration in areas like innovation, energy, and technology.
Randhir Jaiswal, the Official Spokesperson for External Affairs, noted that the interaction would solidify investment and technology ties between the two countries. The Cyprus presidency echoed these sentiments, asserting that the meeting was a step towards deepening economic cooperation based on shared values and historical connections.
PM Modi underscored India’s rapid economic growth and its aspirations to become the third-largest economy globally, attributing this success to substantial reforms and a favorable business environment. He revealed opportunities in various sectors, including aviation, green development, and digital services, while welcoming Cyprus’ interest in investing in India.
Key outcomes included the signing of a Memorandum of Understanding between NSE International Exchange GIFT City and the Cyprus Stock Exchange to bolster financial services. Additionally, an understanding was reached between NIPL and Eurobank Cyprus to facilitate UPI payments for cross-border transactions.
As Cyprus prepares to assume the EU Council Presidency, both leaders expressed hope in advancing the India-EU strategic partnership and concluded that the discussions would lay groundwork for a structured economic roadmap. This visit marks PM Modi’s first engagement in Cyprus in over 20 years, signaling a new era of cooperation.
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