President Nikos Christodoulides is on an official visit to India from Wednesday until Saturday, during which several agreements are expected to be signed in Mumbai and New Delhi and significant announcements made.
Speaking before his departure from Cyprus, Christodoulides described the trip as highly significant. “I am travelling there also as the President of the country holding the EU Council Presidency, so there are quite a few things in play and you will be hearing several announcements,” he said.
The visit builds on a foundation laid in June 2025, when Indian Prime Minister Narendra Modi visited Nicosia — the first visit by an Indian prime minister to Cyprus in more than two decades.
The two sides agreed a Joint Action Plan for 2025–2029, a ten-point Joint Declaration on the implementation of their Comprehensive Partnership, and a series of memoranda of understanding.
These included a memorandum between India’s National Stock Exchange in GIFT City, Gujarat, and the Cyprus Stock Exchange to open the way for cross-border capital flows and dual listings, and a memorandum between NPCI International and Eurobank to extend India’s UPI digital payments system to Cyprus.
The India–Greece–Cyprus Business and Investment Council was also announced, focusing on shipping, logistics, aviation, renewable energy and digital trade.
Government sources told Philenews the relationship is now moving into a more institutionalised and practically oriented phase. Agreements are expected to be signed in New Delhi covering search and rescue, defence and security, research and innovation, education, culture, counter-terrorism and diplomatic training.
The first stop is Mumbai, where the Cyprus–India Business Forum will take place, organised by Invest Cyprus with the participation of around 30 Indian CEOs. Government sources said nine companies or business entities with Indian interests have already chosen to establish a presence in Cyprus in sectors including technology, AI, fintech, shipping and drones, while a further twelve are exploring opportunities in medical tourism, agri-food, EdTech, pharmaceuticals and green energy.
The same sources said Cyprus’s central ambition is to position itself as a reliable European gateway for Indian businesses seeking access to the EU Single Market, with particular emphasis on its potential to serve as a sandbox for new technologies — where companies can test solutions at smaller scale before expanding to a market of 450 million Europeans, especially under the EU’s new AI regulatory framework.
They pointed to Cyprus’s economic performance as part of that pitch: the island recorded growth of three per cent in the first quarter of 2026, the highest rate in the EU, against an EU average of one per cent and 0.8 per cent in the eurozone.
A central topic in talks with Modi in New Delhi will be the India–Middle East–Europe Corridor, known as IMEC. Government sources said Cyprus is not content with an observer role: under the Cyprus EU Council Presidency, a “Friends of IMEC” group has been formed to give the European discussion on the Corridor more concrete content in the Eastern Mediterranean.
The sources said Limassol, as one of the EU’s major shipping centres, could serve as a natural European gateway for the Corridor in shipping, logistics, financial services and digital infrastructure.
India has remained a consistent supporter of the Republic of Cyprus at the UN and in the Commonwealth, on the basis of Security Council resolutions.
Cyprus in turn has consistently backed India’s permanent seat on a reformed Security Council, government sources noted. Cyprus also expressed solidarity with India following terrorist attacks in Kashmir in 2025, a gesture that was particularly appreciated in New Delhi, according to the same sources.
