KKN Gurugram Desk | Prime Minister Narendra Modi emphasized the strong potential for expanding India-Cyprus economic relations during his address at the India-Cyprus CEO Forum held in Limassol on Sunday. The speech underlined the deepening strategic and economic ties between the two nations and invited Cypriot businesses to actively participate in India’s fast-evolving digital and infrastructure-driven economy.

India-Cyprus Ties Mark a New Era of Cooperation

Speaking to a gathering of CEOs and investors, Prime Minister Modi noted the growing commitment of Cyprus towards strengthening bilateral economic cooperation.

“Your ideas reflect not just possibilities, but a strong resolve. There are vast opportunities to take India-Cyprus ties forward in the economic domain,” he said, reinforcing the scope of investment and trade potential between the two countries.

PM Modi hailed the signing of a cooperation agreement between the Cyprus Stock Exchange and India’s National Stock Exchange (NSE) for joint initiatives in GIFT City, Gujarat, calling it a “welcome move” that symbolizes the beginning of a new economic partnership.

India’s $100 Billion Annual Infrastructure Investment

Highlighting India’s recent strides, Prime Minister Modi told the forum that the country is investing over $100 billion every year in developing future-ready infrastructure. The efforts are geared towards transforming India into a global manufacturing and logistics hub.

Key Areas of Focus Include:

• Manufacturing Mission 2025: Launched in the latest Union Budget, the mission aims to boost industrial output and support startups.

• Port and Maritime Development: India is prioritizing sectors like shipbuilding and shipbreaking, with a new national policy on the way.

• Civil Aviation Growth: With a booming middle class and increasing air travel demand, India’s aviation sector is expanding rapidly.

• Startup Ecosystem: Over 100,000 Indian startups are offering not just ideas, but real-world solutions across fintech, health, AI, and logistics.

“Our startups are not merely dreamers — they are problem solvers,” said Modi, encouraging Cypriot investors to explore collaboration with India’s innovation-driven enterprises.

Digital Revolution and Global UPI Expansion

India’s digital revolution was a core theme of PM Modi’s address. He spoke about the success of the Unified Payments Interface (UPI), which now accounts for 50% of the world’s digital transactions.

Countries like France have already integrated UPI, and discussions are underway to bring Cyprus into the fold.

“India is open to sharing its fintech success story. We welcome Cyprus to explore integration with our UPI system,” PM Modi added, highlighting the scalability and global appeal of India’s digital payments infrastructure.

This push is part of India’s broader strategy to promote financial inclusion, which has become a global case study in the past decade.

India’s Rise as a Global Economic Power

The Prime Minister also provided insights into India’s growing influence on the global economic stage. He said:

• India is now the 5th largest economy in the world.

• It is set to become the 3rd largest economy within the next few years.

• Over the past decade, India has witnessed a digital and financial transformation that few countries can parallel.

“A stable government, a strong reform agenda, and a youthful population are powering India’s growth,” Modi said, referring to his government being elected for the third consecutive term—a rare political continuity in any major democracy.

India-Cyprus Trade Volume and Potential

Currently, the bilateral trade between India and Cyprus stands at $150 million, but PM Modi believes that the true potential is much higher. He described Cyprus as a trusted long-term partner and a gateway to European markets.

Highlights of India-Cyprus Economic Relations:

• Cyprus is an important source of foreign direct investment (FDI) in India.

• Several Indian companies are actively operating in Cyprus across diverse sectors.

• The recently proposed India-Greece-Cyprus Business and Investment Council will act as a trilateral economic platform for enhanced cooperation.

“We are committed to realizing the full potential of our trade ties. I invite Cypriot businesses to invest in India’s growth story,” Modi said.

He assured business leaders that a working plan will be drawn up to implement suggestions made at the CEO Forum, including sectoral partnerships and ease of doing business initiatives.

Free Trade Agreement Talks with Greece in Final Phase

PM Modi also mentioned progress on a Free Trade Agreement (FTA) between India and the United Kingdom, while signaling that talks with Greece are expected to conclude by the end of this year.

The FTA, when finalized, could serve as a bridge for Cyprus and other EU nations to tap into India’s vast market of 1.4 billion people.

A Shared Vision for Innovation and Growth

The Prime Minister’s address stressed the importance of collaborative innovation in an interconnected world. He positioned India-Cyprus economic engagement as not just transactional, but transformational.

From fintech to infrastructure, from stock exchanges to startups, the strategic partnership between the two nations has entered a phase of multidimensional cooperation.

As India scales new heights on the global economic ladder, it seeks trusted partners like Cyprus to co-create a future centered around technology, trust, and trade.

The India-Cyprus CEO Forum 2025 has opened new avenues for cooperation in trade, finance, infrastructure, and digital innovation. As both countries move toward deeper engagement, the forum stands as a pivotal moment in redefining bilateral economic relations.