In a significant diplomatic stride, Indian Prime Minister Narendra Modi recently visited Cyprus — marking the first visit by an Indian PM to the island nation in over 20 years. This historic visit sets the stage for a deeper strategic and economic partnership between India, Cyprus, and the broader European Union.
🔑 Key Highlights of the Visit
| Sl. No. | Topic | Details |
|---|---|---|
| 1 | First PM Visit in Two Decades | Modi is the first Indian PM to visit Cyprus in 20 years, signaling renewed diplomatic focus. |
| 2 | Economic Ties | Emphasis on expanding trade and investment, particularly in digital innovation and infrastructure development. |
| 3 | Free Trade Agreement | India and EU reaffirmed their commitment to finalize a Free Trade Agreement (FTA) by end of 2025. |
| 4 | Digital Transformation | India leads globally in digital transactions, accounting for 50% of global UPI transactions. |
| 5 | Infrastructure Investment | India invests over USD 100 billion annually in infrastructure; new shipbuilding policy in the pipeline. |
| 6 | Startup Ecosystem | India boasts 100,000+ startups, making it one of the world’s largest and most vibrant innovation hubs. |
| 7 | Trilateral Business Council | Announcement of India–Cyprus–Greece Business and Investment Council to promote trilateral economic cooperation. |
| 8 | Financial Market Collaboration | Collaboration between Cyprus Stock Exchange and India’s NSE, particularly via Gujarat’s GIFT City. |
| 9 | Investor Outreach | Modi invited Cypriot businesses to explore Indian sectors like energy, innovation, maritime, and tech. |
| 10 | Global Engagement | Cyprus is part of a three-nation tour, with Croatia and Canada being the next stops—reflecting India’s global outreach strategy. |
🌍 Strategic Impact
Prime Minister Modi’s Cyprus visit not only strengthens India’s presence in Europe but also aligns with New Delhi’s broader goals of forging global economic and diplomatic partnerships. The visit enhances India’s strategic pivot to Europe, facilitates new business synergies, and reinforces India’s role as a digital and infrastructure powerhouse.
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