The Cyprus – India Business and Investment Summit in Mumbai served as an effective platform for networking and strengthening trust between the business communities of Cyprus and India, confirming in practice the momentum that has developed in business and economic relations between the two countries in recent years.
The impressive turnout featuring the presence of representatives from the business, financial and institutional sectors of India highlighted the substantial interest in Cyprus as a safe and attractive investment and business destination.
Distinguished speakers from Cyprus, who participated in the conference that brought together more than 450 participants, including investors, entrepreneurs and senior executives of Indian companies, spoke with InBusinessNews to share their analysis of the strategic importance of strengthening Cyprus-India business and economic relations, the increased interest from Indian businesses in operating in Cyprus, as well as how this interest can be transformed into specific initiatives. At the same time, they refer to the significant benefits, prospects and how Cyprus is impacted by the EU-India free trade agreement on a practical level.
The Cyprus–India Business and Investment Summit was organised by IMH in collaboration with Invest Cyprus , constituting another essential step in strengthening business and investment ties between Cyprus and India.
Chrysilios Pelekanos: The increased interest from Indian businesses and the priorities
The Cyprus – India Business and Investment Summit was declarded agreat success, which was reflected in the impressive attendance of the Indian business community, PwC Cyprus Partner, Chrysilios Pelekanos emphasied, pointing out that the participation of over 450 investors, entrepreneurs and senior executives of Indian companies certifies both the success of the conference and the intense interest in Cyprus.
"In the eyes of the Indian business community, Cyprus is emerging as a safe and attractive investment and business destination," he noted.
With the strengthening of Cyprus-India business and economic relations gaining strategic importance, it becomes clear that the two economies operate complementary, as on the one hand Cyprus can be a gateway to the EU single market and on the other hand India, as one of the fastest growing markets, can support new investments in Cyprus.
Strong prospects for cooperation, according to Pelekanos, are evident in technology (R&D, data/AI), financial services and funds, shipping, energy and tourism, he continued, explaining that, despite the challenges, the Double Taxation Avoidance Agreement, the common basis of the legal system of the two countries based on English Common Law and the widespread use of the English language constitute significant advantages.
"For the next 12–24 months, the priorities are to strengthen Cyprus' role as a gateway and base for Indian companies to expand their activities in the common European market (within the framework of the EU-India Free Trade Agreement), to promote green shipping, academic collaborations and to upgrade connectivity," the Partner of PwC Cyprus said, emphasising that with a spirit of cooperation and targeted moves, the bilateral relationship can be substantially strengthened to the benefit of both sides.
At the same time, there is an increasing interest from Indian businesses to operate in Cyprus, as the fact that Cyprus is the gateway to the EU for these businesses and consequently the hub for international development plays an important role in their decision. “We observe that the strongest demand arises from companies operating in the fields of technology, funds, shipping and tourism,” Chrysilios Pelekanos noted, underlining the need to improve internal processes and enhance air connectivity in order to further strengthen the interest of Indian businessmen and bring Cyprus closer to India.
Asked how Cyprus is affected by the EU-India free trade agreement, Pelekanos explained that the agreement can bring significant benefits to Cyprus. “Tariff reduction, expanded access to the Indian services market (professional, financial, maritime, technological), strengthening supply chains and the logistics/maritime ecosystem, as well as attracting investment can act as catalysts, so that a final agreement can translate into substantial benefits for our country,” he emphasised.
Petros Mavrommatis: The sectors on which Indian interest in Cyprus is focused
The highly successful event in India served as a very effective platform for networking and strengthening trust between the two business communities, laying the foundations for further collaborations in the near future, both in terms of participation and the quality of the discussions and contacts that took place.
The attendance was impressive and the presence of representatives from the business, financial and institutional sectors of India highlighted the substantial interest in Cyprus as an investment and business destination, underlined Petros Mavrommatis, Board Member, Head of KPMG Cyprus Asset Management Services, KPMG in Cyprus / Vice President, Cyprus Investment Funds Association – CIFA.
"The topics that were developed - with an emphasis on financial services, investment funds, the cross-border tax (double tax treaty with India) and legal structure, as well as the broader business infrastructure of Cyprus - allowed for a substantive and practical dialogue," he said, describing as a particularly positive element the fact that the discussion was not limited to being on a theoretical level, but focused on real business applications and collaborations.
With business and economic relations between Cyprus and India at a particularly dynamic stage, strengthened by the clear strategic convergence also observed at the political level, the broader cooperation between the two countries is now taking on a more structured and long-term character, which creates a stable and predictable framework for business activity.
As Mavrommatis pointed out, Cyprus is steadily emerging as a natural bridge between India, the Middle East and Europe, offering access to the single European market, a reliable legal and tax system, as well as a mature financial services ecosystem, while at the same time the emerging importance of the IMEC corridor further strengthens the country's geostrategic role.
Moreover, there is strong and multi-faceted interest from the Indian business community to operate in Cyprus. This interest, according to the Board Member of KPMG Cyprus, extends to sectors such as investment funds, holding companies and financing companies, the establishment of regional or European headquarters, technology and innovation, startups, the exploitation of intellectual property, as well as real estate and venture capital.
"The prospects are particularly positive. With the right continuity in terms of institutions, professional services and business initiatives, Cyprus can further establish itself as a jurisdiction of choice for Indian businesses seeking international expansion, as well as for international investors who see India and the wider region as a strategic destination," Petros Mavrommatis noted.
Marios Christoforides: The IBU India Hub and the EU-India Economic and Customs Agreement
The potential offered by Cyprus as a stable, reliable and flexible European financial services center was highlighted, among others, by Marios Christoforides (Manager International Business Unit Nicosia & IBU India Hub, Bank of Cyprus) in the context of the Cyprus–India Business and Investment Summit, before which the new initiative of the Bank of Cyprus, the IBU India Hub, a new unit created to meet the specific needs of entrepreneurs and companies from India, was also presented.
"The India Hub aims to provide comprehensive banking products, specialised support and facilities for corporate establishment, international transactions, which, in combination with the services and products through the Private Banking and Wealth unit, compose a complete picture of banking and investment options," Christoforides said, pointing out that the audience response, the discussions that followed and the targeted contacts that were made confirmed the great success of the conference and the decision of Bank of Cyprus to invest in this specific market.
"As Bank of Cyprus, we consider our participation in the Cyprus – India Business and Investment Summit to be particularly successful and of strategic importance. The conference gave us the opportunity to present to a large, informed and high-level audience the profile of the Cypriot financial sector, as well as the role of Bank of Cyprus as a leading pillar," he emphasised.
Asked about the prospects for strengthening business and economic relations between the two countries, Marios Christoforides explained that India is currently one of the fastest growing economies in the world, with strong extroversion, a growing investment presence internationally and strong ties with the European market, while Cyprus, as a full member of the EU and a strategic hub between Europe, the Middle East and Asia, has all the characteristics to be a gateway to Europe for Indian businesses.
Referring to the recent EU-India economic and customs agreement, he stressed that this agreement further strengthens the prospects for cooperation. In this environment, Cyprus presents comparative advantages such as a stable and transparent regulatory framework, a competitive tax regime, high-level professional services, a modern banking sector, as well as a supportive ecosystem for international companies.
Following the official visit of the Prime Minister of India in the summer of 2025, the Manager International Business Unit Nicosia & IBU India Hub, Bank of Cyprus, underlined that there is clearly increased interest from Indian companies, many of which are now actively evaluating Cyprus as a base for European headquarters, international tax planning and technological and investment initiatives.
"As Bank of Cyprus, we are monitoring the developments in the Indian market, expressing our readiness for banking support and reliable solutions that strengthen Cyprus' position as a modern, safe and internationally competitive financial center," Christoforides stressed.
Andriana Efstathiou: Substantial and targeted interest from India
The Cyprus – India Business and Investment Summit confirmed the momentum that has developed in recent years in the business and economic relations between Cyprus and India, with the quality of the participants and the content of the discussions highlighting a mature, growing interest from both sides for substantial and long-term collaborations.
As Andriana Efstathiou, Partner, Frangos Law & Bybloserve Management, stated, the event served as a targeted platform for dialogue and networking, bringing to the fore practical approaches to investments and business presence. “The most important result is that the contacts and exchanges that took place created fertile ground for continuation, with the prospect of turning into specific collaborations and tangible projects in the immediate future,” she emphasised.
At the same time, according to Efstathiou, the strengthening of Cyprus-India relations is of particular importance, as it strengthens the interconnection of a dynamic market such as India with the European business reality, with Cyprus being able to function as a reliable base for a corporate presence with a European orientation, offering legal certainty, predictability and a service infrastructure that facilitates cross-border activity.
“From the Indian business community’s perspective, we found substantial and targeted interest: many were not limited to general questions, but focused on practical issues of establishment, corporate structure, compliance and operational presence in Cyprus. This shows that Cyprus is seen not just as another jurisdiction, but as a realistic option for those seeking European expansion and more internationalized business activity,” the Partner, Frangos Law & Bybloserve Management explained .
Marios Menelaou: Cyprus as a "bridge" for investments and synergies
The overall assessment of the Cyprus – India Business and Investment Summit is positive, according to Marios Menelaou, Partner, L. Papaphilippou & Co LLC, both in terms of the level of participation, the quality of the speakers and the substance of the discussions, noting that, beyond the exchange of views, it emerged that there is substantial scope for expanding cooperation between India and Cyprus, with Cyprus being able, among other things, to be used as a "bridge" for investments and synergies with a European footprint.
"The timing of the conference is also particularly important, as the EU-India Free Trade Agreement was completed and announced, which further strengthens the framework for trade and investment mobility between the two sides, while sending a clear message of confidence to the market, enhancing certainty for businesses and creating favorable conditions for mature and long-term partnerships," Menelaou pointed out.
Given this data, he added, the prospects for strengthening economic and business relations between Cyprus and India are particularly encouraging, explaining that the challenge now is to create stable channels of communication between businessmen and professionals of the two countries, to foster meaningful cooperation and to transform interest into specific initiatives, ensuring the legitimacy and transparency that investors need to move forward quickly and safely.
"In this context, the Law on the Establishment of a Framework for the Control of Foreign Direct Investments is expected to play a catalytic role, enhancing predictability and trust in cross-border transactions," he stressed.
George Kallinicou: Tangible opportunities for cooperation
The Cyprus India Business and Investment Summit confirmed in practice the momentum and growing interest in further developing economic and business relations between Cyprus and India, said George Kallinicou, Director, Nobel Trust Ltd, noting that the high level of participation, the quality of the discussions and the targeted contacts that were made highlighted tangible opportunities for cooperation in areas such as investment, financial services, technology, shipping and innovation.
As Kallinicou explained, Cyprus can act as a reliable gateway for Indian businesses to Europe and the wider Mediterranean region, offering a stable institutional framework, a favorable business environment and strong expertise in international transactions. “In this context, consulting organisations with an international orientation and experience, such as Nobel, can contribute substantially to facilitating the expansion of Indian businesses into the European Union through Cyprus,” he emphasised, underlining that the conference laid solid foundations for the transition from dialogue to action, creating the conditions for strategic partnerships with a substantial economic footprint in the coming years.
(Source: InBusinessNews)
