Filenews 15 June 2025
The President of the Republic Nikos Christodoulides referred today to the great opportunities for investments presented between Cyprus and India, describing the visit of the Prime Minister of India Narendra Modi to Cyprus as historic.
Speaking at the opening of the round table discussion with businessmen held in Limassol, with the participation of the Prime Minister of India, the President of the Republic said, among other things, that the visit of Mr. Modi paves the way for an unprecedented strategic relationship between the two countries, which, as he said, share common values and principles.
The President of the Republic expressed deep sorrow and the sincere condolences of he, the Government and the Cypriot people to the people of India for the tragic plane crash and the loss of so many lives.
The President of the Republic also said that in the turbulent region of the Eastern Mediterranean, Cyprus, the southeasternmost tip of the EU, is a beacon of stability and referring to EU-India relations, he noted that a new path of cooperation has been opened after the visit of the College of Commissioners to India last February.
Praising the work and leadership of Mr. Modi, the President of the Republic pointed out that he is a leader of change and the amazing transformation of India.
He added that Mr. Modi's visit to Cyprus is an indication of his commitment to India's cooperation with Cyprus, which we are working to take to new levels, a cooperation that will be future-oriented, visionary and tangible in areas such as security, technology, artificial intelligence, innovation, energy, connectivity and more.
He also noted that Cyprus sees India not only as a strategic partner, but as a global power shaping the present and future of technology, connectivity and sustainable development.
«Cyprus," he added, "is the 8th largest source of foreign investment in India, while India is among the top ten foreign investors in Cyprus," which is, he pointed out, a solid basis for expansion.
He also noted that initiatives such as the India-Middle East-Europe Economic Corridor (IMEC), in which Cyprus can be the first entry point into Europe, constitute a vision for smart infrastructure and networks that will be catalysts for prosperity and stability.
He also said that the business communities of the two countries are interested in investments in sectors such as digital innovation and the hospitality sector, while there are many sectors for further investment, such as defense technology, natural resource management, infrastructure, technology in the agricultural sector, cinema and cybersecurity.
Finally, the President of the Republic said that the visit of the Indian Prime Minister opens up new horizons in the cooperation between the two countries.
What the Indian
Prime Minister said In his address, Mr. Modi, speaking through an interpreter, said, among other things, that Cyprus is a long-standing and reliable partner of India, while thanking President Christodoulides for the condolences he expressed for the recent plane crash in his country.
He also expressed his gratitude for the welcome by President Christodoulides at Larnaca Airport, as well as for the organization of today's event.
He added that it was the first visit by an Indian Prime Minister in 23 years, noting that the fact that today's event is the first to take place shows how important business communities are to bilateral relations.
Prime Minister Modi noted that he listened very carefully to the views and suggestions of the participating businessmen and understands their commitment to further strengthening the bilateral economic relations between Cyprus and India, pointing out that there are unlimited possibilities to strengthen these relations.
"Cyprus has always been our long-term, reliable partner," he said, adding that significant investments have been made by Cypriots in India, while many Indian companies have chosen Cyprus "as the gateway to Europe".
He added that trade between the two countries reaches €150 million. But the real potential is much greater.
Mr. Modi referred extensively to the reforms in his country that have resulted in it now being the fastest-growing economy, while it is now the world's fifth-largest economy, which he said will soon become the 3rd.
Finally, he welcomed the initiative of the Cyprus-Greece-India Investment and Business Council, noting that the suggestions and views of entrepreneurs from today's discussion will be recorded and a relevant action plan will be prepared.
