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India-Cyprus Trade Ties Deepen: PM Modi and Cyprus President Meet Business Leaders to Drive Innovation and Investment
India and Cyprus Forge New Trade Alliances to Boost Innovation and Growth
Samaya Jyothi | June 16, 2025
In a significant diplomatic and economic development, Indian Prime Minister Narendra Modi met with Cyprus President Nikos Christodoulides and top CEOs from both countries to explore new avenues for strengthening trade ties. The meeting, held in New Delhi, marked a key step forward in solidifying bilateral cooperation in key sectors including innovation, energy, technology, and sustainable development.
The high-level engagement showcased India’s commitment to building stronger international economic partnerships and emphasized the mutual benefits of deepening collaboration with Cyprus. Addressing the gathering, Prime Minister Modi highlighted India’s impressive reform trajectory over the past decade, noting how liberalized policies, digital transformation, and sustainable growth strategies have enhanced the country’s business landscape.
Innovation, Energy, and Technology Take Center Stage
With both nations focusing on future-forward sectors, innovation and technology were key highlights of the dialogue. Prime Minister Modi noted the massive potential of collaborative projects in clean energy, green tech, and information technology. Cyprus, known for its strategic location in Europe and a growing tech startup ecosystem, was seen as a gateway for Indian businesses to expand into the European market.
President Christodoulides echoed this sentiment, stating, “Cyprus is ready to serve as a bridge between Indian innovation and European opportunities. Together, we can unlock economic growth that benefits both countries.”
Energy cooperation, especially in renewable resources, also featured prominently in discussions. Both leaders expressed interest in promoting investment in solar and wind energy, as well as exploring joint research initiatives to enhance energy security.
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CEO Roundtable: Industry Leaders Share Insights
The roundtable discussion with top CEOs from India and Cyprus served as a platform for sharing insights on global market trends, investment climates, and business expansion opportunities. Industry leaders from sectors such as information technology, fintech, pharmaceuticals, and infrastructure voiced their support for increased bilateral engagement.
One of the recurring themes in the discussion was the importance of building resilient supply chains and leveraging each other’s strengths to navigate global economic challenges.
An Indian IT entrepreneur at the meeting said, “This partnership can open up a new corridor for tech collaboration. With Cyprus’s EU access and India’s tech talent, the synergy is clear.”
India’s Reform Journey: A Decade of Progress
Prime Minister Modi took the opportunity to share India’s remarkable economic transformation over the past ten years. He cited reforms in the taxation system (like GST), labor laws, and digital governance as key enablers of economic growth.
“India is now among the fastest-growing economies in the world. Our reform-driven approach and innovation-led mindset have created a strong foundation for global collaboration,” Modi said.
He also emphasized the ‘Digital India’ and ‘Make in India’ initiatives, which have fueled entrepreneurship and invited foreign investment across diverse industries.
Cyprus as a Strategic Partner
Cyprus, though a small nation geographically, plays a vital role in regional stability and economic connectivity. Its EU membership and pro-business environment make it an attractive partner for Indian businesses looking to scale internationally.
President Christodoulides reaffirmed Cyprus’s commitment to nurturing ties with India, stating, “Our strategic cooperation is rooted in shared values and a vision for sustainable development. We are committed to exploring every possible avenue of collaboration.”
Looking Ahead: Bilateral Trade Expansion
Both nations are now working toward creating a framework that facilitates easier market access, reduces bureaucratic barriers, and fosters knowledge exchange. Future areas of cooperation could include education, tourism, maritime technology, and financial services.
As India eyes a $5 trillion economy, global partnerships like the one with Cyprus will play a vital role in sustaining growth and fostering innovation-driven development.
This high-profile meeting concluded with optimism, as both governments pledged to maintain momentum and convert dialogue into actionable outcomes.
The collaboration is expected to yield long-term benefits, creating a win-win scenario for businesses and citizens in both countries.
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