The position that "Cyprus is becoming a gateway for Indian businesses to the European Union", as recognised by the Prime Minister of India himself, has been expressed by Chrysilios Pelekanos, Partner, PwC Cyprus and President of the Cyprus-India Business Association.
Speaking at the India–Cyprus Business & Investment Summit 2026 organised by the High Commission of India in Cyprus, Pelekanos stated that the last two years have seen not only a strengthening of political relations between the two countries, but also a significant upgrade in business and economic ties.
He noted that the number of major Indian companies choosing Cyprus as a base for their development and expansion is increasing. He cited Thomas Cook India, which established its European base in the tourism and real estate sectors in Cyprus, as well as LTI Mindtree, which created an AI hub with an ever-growing presence in the Cypriot market.
At the same time, Pelekanos stressed that a number of well-known Indian startups have established themselves in Cyprus, particularly in the technology sector, while publicly listed Indian companies in the drone industry have also established a presence on the island.
Pelekanos also referred to the increase in high-level meetings at the government's initiative and the conclusion of memoranda of cooperation between the two countries, as well as the hosting of business missions from India in Cyprus. He made particular mention of the historic, as he described it, visit of the Prime Minister of India, Narendra Modi, underlining that during a business meeting with the leaders of the two countries, Modi himself recognised the role of Cyprus as a gateway to the European market.
Finally, he pointed out that in order to further and sustainably develop Cyprus-India relations, enhanced business activity is required that is mutually beneficial for both countries, expressing the assessment that the action plan for the next period will further strengthen strategic cooperation.
(Source: InBusinessNews)
