Mon Jun 16 07:47:05 UTC 2025: **Summary:**

Prime Minister Narendra Modi, during his visit to Cyprus, emphasized India’s rapid economic growth and potential to become the world’s third-largest economy. He highlighted opportunities for Cypriot businesses to partner with India in various sectors, including aviation, digital payments, and green development. He also noted Cyprus’s role as a gateway to Europe for Indian companies. Agreements were made to enhance financial collaboration and cross-border payments. Modi welcomed the India–Greece–Cyprus Business and Investment Council and expressed optimism about the India-EU Free Trade Agreement.

**News Article:**

**Modi Touts India’s Economic Rise, Opportunities for Cyprus, on Landmark Visit**

Nicosia, Cyprus – Prime Minister Narendra Modi, in the first visit by an Indian Prime Minister to Cyprus in 23 years, has used a business roundtable in Limassol to highlight India’s burgeoning economy and invite Cypriot investment. Addressing business leaders alongside Cypriot President Nikos Christodoulides, Modi stated that India is poised to become the world’s third-largest economy, fueled by reforms and a focus on innovation and technology.

“India’s rapid economic transformation in the last 11 years… has become the fastest-growing major economy in the world,” stated the External Affairs Ministry.

Modi emphasized opportunities for Cypriot businesses in sectors such as civil aviation, digital payments, and green development. He also pointed to India’s skilled workforce, thriving startup ecosystem, and emerging areas like AI, quantum computing, and semiconductors as key drivers of growth.

Agreements were forged to strengthen financial ties, including an MOU between the NSE International Exchange GIFT CITY, Gujarat and the Cyprus Stock Exchange. NIPL (NPCI International Payments Limited) and Eurobank Cyprus are working to introduce UPI for cross-border payments.

Modi also welcomed the launch of the India–Greece–Cyprus Business and Investment Council, aimed at fostering trilateral cooperation. He noted Cyprus’s strategic importance as a gateway to Europe for Indian companies, particularly in IT services and financial management.

Looking ahead, both leaders expressed optimism about finalizing the India-EU Free Trade Agreement by the end of the year, which they believe will significantly boost trade and economic cooperation. As Cyprus prepares to assume the Presidency of the EU Council next year, both sides reaffirmed their commitment to strengthen the India-EU Strategic Partnership.

Read More