India, Cyprus Elevate Ties to Strategic Partnership; PM Modi Sets Goal to Double Investment in Five Years
New Delhi:
Prime Minister Narendra Modi on Friday announced a major elevation in India’s relations with Cyprus, declaring a new “Strategic Partnership” during a joint press statement with Cypriot President Nikos Christodoulides in New Delhi.
Welcoming the Cypriot President and his delegation, Prime Minister Modi described the visit as “an important milestone” in the shared journey of the two nations and recalled the “warm hospitality” extended to him during his visit to Cyprus last year, where he was conferred the country’s highest civilian honour.
Addressing the media, Modi emphasized that the friendship between India and Cyprus is both “strong and futuristic,” rooted in shared democratic values, rule of law, and mutual respect for sovereignty and territorial integrity.
Strategic Partnership to Expand Economic Cooperation
The Prime Minister highlighted Cyprus’ growing importance in India’s engagement with Europe, especially at a time when India and Europe are entering what he termed a “new golden era” in bilateral relations.
He noted that Cyprus is among the top ten investors in India and revealed that investment from Cyprus into India has nearly doubled over the last decade. Building on the momentum created by the India-European Union Free Trade Agreement discussions, Modi announced an ambitious target to double bilateral investments again over the next five years.
“To realize this vision, today we are elevating our trusted relationship into a Strategic Partnership,” Modi said.
The new framework aims to deepen collaboration across finance, shipping, infrastructure, energy, agriculture, innovation, and technology.
Focus on Financial Connectivity and GIFT City
A major highlight of the partnership is enhanced cooperation between the financial and services sectors of both countries. Modi said the collaboration would unlock new opportunities for commerce and investment by linking India’s and Cyprus’ financial hubs.
India also plans to work closely with Cyprus to strengthen the vision of developing GIFT City into a global financial and services hub.
The Prime Minister added that Indian companies would gain fresh opportunities in Cyprus’ infrastructure, energy, and agriculture sectors, while Cyprus could emerge as a significant investor in India’s rapidly expanding maritime and shipping industries.
The two countries also agreed to strengthen cooperation between their innovation ecosystems and startup sectors.
Defence and Security Cooperation Strengthened
Defence and security emerged as another major pillar of the talks. Modi welcomed the expansion of military exchanges and training cooperation between the two nations in recent years.
Both sides agreed to intensify collaboration in:
Cyber security
Maritime security
Counter-terrorism
The leaders also pledged to work together on broader regional connectivity initiatives, including the:
Indo-Pacific Oceans Initiative
India-Middle East-Europe Economic Corridor
Migration, Education and Cultural Agreements
Recognizing the contribution of Indian professionals and students living in Cyprus, Modi announced that both nations have agreed to conclude a comprehensive Migration and Mobility Partnership Agreement and a Social Security Agreement in the near future.
The countries also signed agreements in the fields of:
Culture
Higher education
Research collaboration
Cultural exchange
These initiatives are expected to deepen people-to-people ties and academic cooperation.
Shared Position on Global Issues
On international matters, Modi said both countries discussed ongoing conflicts in:
Ukraine
West Asia
The two leaders reiterated support for peace efforts and the early resolution of conflicts through dialogue and diplomacy.
They also expressed a shared view that reform of global institutions is “urgent and important” to address emerging global challenges effectively.
“A Relationship Built on Trust”
Concluding his remarks, Modi said India and Cyprus have consistently stood by each other through changing global circumstances and expressed confidence that the newly announced Strategic Partnership would inject “new ambition and new speed” into bilateral relations.
“India and Cyprus together will build a secure, prosperous and better future,” the Prime Minister said.
The visit is expected to give fresh momentum to India’s engagement with Europe and reinforce Cyprus’ role as a strategic gateway for investment, trade, and connectivity between India and the European continent.
