The tangible results of expanding business relations between Cyprus and India were recently seen with news of Cyprus-based shipping companies Interorient Navigation Co. Ltd. in collaboration with Danship & Partners Ltd.’s close to €1 billion investment in India’s maritime sector.
Asked to comment on the investment, His Excellency, the High Commissioner of India to Cyprus, Manish, who within his official capacity, helped facilitate contact between the Cypriot and Indian parties involved in the investment, confirmed, “A milestone FDI in the Indian shipping sector amounting to Rupees 10,000 crore (approximately €1 billion) was reported recently by a Cyprus maritime entity, Interorient Navigation Co. Ltd., based in Limassol, Cyprus, in collaboration with Danship & Partners Ltd., also based in Limassol, Cyprus.”
The High Commissioner went on to note that, “India's shipping and maritime sector is undergoing a transformational phase, driven by ambitious reforms under the Sagarmala Programme, Prime Minister’s Gati Shakti, and the recently passed Indian Maritime Sector Bill, 2024.”
“These initiatives,” he explained, “aim to modernise port infrastructure, boost coastal shipping, streamline multimodal logistics, and foster maritime industrial clusters. An investment of this scale - when realised - would represent one of the largest foreign direct investments (FDI) in the Indian shipping sector, reinforcing India’s emergence as a trusted, competitive, and sustainable global maritime hub.”
As Manish pointed out, “Participation by a leading Cypriot entity in India’s maritime ecosystem serves as a strong confidence signal to global investors.”
“It also aligns well with India's ambition to increase the share of coastal and inland water transport and bolster shipbuilding and fleet augmentation under the Make in India programme,” Manish continued.
As the High Commissioner also underlined, “Such investments catalyse job creation, technology transfer, and global best practices, while contributing to Cyprus' goal of becoming a top business jurisdiction in the region, facilitating the movement of ideas, funds and manpower between India and the Mediterranean. If pursued, this would also reinforce the strength of the India - Middle East - Europe Economic Corridor.”
Manish went on to note that, “This development must be seen in the backdrop of a deepening India–Cyprus economic partnership, particularly following the historic visit of the Honourble Prime Minister of India to Cyprus in June 2025, which was marked by the signing of the Joint Declaration on the Implementation of the Comprehensive Partnership between Republic of Cyprus and Republic of India.”
As Manish explained, “That declaration identified shipping, infrastructure, and logistics as key verticals of mutual interest. Since then, there has been enhanced dialogue between Indian and Cypriot businesses, with Cyprus’s strategic role as a shipping and maritime jurisdiction of global significance becoming an area of particular focus.”
Also read: Cyprus-based companies ‘to invest close to €1b in India’s shipping sector” - the largest ever FDI in the Indian shipping sector
