India–Cyprus Economic Ties Strengthen at 13th International Investment Awards in Nicosia

India’s High Commissioner to Cyprus, Mr. Manish, marked a significant milestone in India–Cyprus economic relations by attending the prestigious 13th Cyprus International Investment Awards in Nicosia, held on July 9, 2025. Organized by Invest Cyprus – CIPA under the auspices of the President of the Republic of Cyprus, H.E. Nikos Christodoulides, the ceremony recognized global investors and companies contributing to Cyprus’s evolving economy. Mr. Manish’s presence at this high-profile event, alongside key political and business figures, underscores the growing stature of the India–Cyprus partnership and heralds a new chapter in bilateral cooperation.

During the ceremony, Invest Cyprus honoured seven international entities, across sectors spanning technology, telecommunications, financial services, retail, and infrastructure, reflecting the broad diversification of economic engagement. President Christodoulides, serving as the Chief Guest, delivered the keynote address, pledging Cyprus’s commitment to fostering foreign investment and sustainable growth. In his speech, he noted the “latest developments following the visit of Indian Prime Minister Narendra Modi” and praised the “positive developments in India‑Cyprus economic partnership”.

High Commissioner Manish took the podium with aplomb, emphasizing the deepening synergies between the two nations. He said, “Indian enterprises are recognising Cyprus as a gateway to the European Union and beyond,” highlighting Cyprus’s strategic value for Indian businesses exploring EU markets. Manish dedicated the Award to the “longstanding warm ties between the two nations built on shared values and mutual trust,” and presented it as a “renewed commitment” to strengthening bilateral economic engagement.

The tone of the event was further elevated by statements of business and institutional leaders in Cyprus underscoring Cyprus’s strategic initiatives in enhancing its investment climate, including regulatory reforms, incentives for green industries, and a stronger emphasis on international collaboration. A key point of consensus among speakers was the transformative influence of Prime Minister Modi’s state visit in mid‑June 2025, which they described as a catalyst for renewed momentum in bilateral economic dialogue.

The Awards ceremony, took place at the Hilton in Nicosia, and featured a robust turnout of government officials, corporate leaders, and international investors. Alongside the ceremonial honors, participants voiced enthusiasm for a practical roadmap to enhance cooperation in technology, fintech, renewable energy, and infrastructure.

Mr. Manish also offered insights into an encouraging trend: Indian financial institutions such as Bao Financial Group have chosen Cyprus as the base for SEBI‑registered funds targeting Make‑in‑India sectors like the agrotech, defence, drone manufacturing, and clean energy, demonstrating investor confidence in Cyprus’s regulatory framework and EU access. He reaffirmed the creation of the India–Greece–Cyprus Business and Investment Council, pointing to its role in structuring future economic interaction and welcoming greater Indian corporate presence on the island.

This forum also spotlighted significant developments stemming from Prime Minister Modi’s June visit, such as the MoU facilitating UPI‑based cross‑border payments via Eurobank Cyprus, the establishment of a digital innovation hub co‑hosted by LTIMindtree and Voicing.AI at CYENS Centre, and the foundation laid by Thomas Cook India and others to enter the Cypriot market.

President Christodoulides’s keynote emphasizing the “latest developments following the visit of Indian Prime Minister…were a talking point” during discussions, reflecting the depth of bilateral momentum. The President portrayed these developments not merely as symbolic but as functional enhancements to economic, technological, and financial interlinkages.

The 13th Cyprus International Investment Awards thus stand out as a pivotal moment for the India‑Cyprus relationship. The event not only spotlighted international investors contributing to Cyprus’s growth but also reaffirmed the evolving strategic dimension of Indo‑Cypriot ties—particularly in the wake of Prime Minister Modi’s historic visit. High Commissioner Manish’s role, interweaving diplomatic engagement with investor outreach, and his forward‑looking statement about Cyprus as an EU gateway, lends fresh momentum to this bilateral agenda.

By publicly acknowledging Cyprus’s growing allure to Indian enterprises from fintech to infrastructure and clean energy, the High Commissioner underscored that the island nation is fast emerging as a preferred investment hub for Indian capital. His remarks, grounded in confirmed statements, concentrated on trust, regulatory confidence, and shared values, without presumption reflecting a mature and forward‑looking bilateral posture.

In bringing together political leadership, institutional investors, and corporate visionaries under one roof, the Awards ceremony has crystallized the evolving narrative: India and Cyprus are not merely strengthening existing ties; they are charting a cooperative roadmap encompassing financial integration, technology exchange, sustainable development, and strategic positioning in global markets.