The High Commissioner of India concluded his speech at the India–Cyprus Business & Investment Summit 2026 held in Nicosia with the announcement of three important Memoranda of Understanding, noting that the cooperation between the two countries is maturing into a comprehensive and strategic partnership.
The first concerns cooperation between the Cyprus Chamber of Commerce & Industry and the Federation of Indian Chambers of Commerce and Industry, one of the most important national business bodies in India. The second is signed between the Services Export Promotion Council of India and the Cyprus Chamber of Commerce & Industry, focusing on the services sector, where – as highlighted – both countries have a strong base and great prospects, with India aiming to become a trillion dollar services export economy by 2030.
The third Memorandum concerns purely business cooperation in the field of defence and cybersecurity, between the Indian Pinaka Technologies and the Cypriot Celog, with the aim of exploiting specific synergies that were identified and mutually strengthening their presence in individual sectors.
Addressing the India–Cyprus Business & Investment Summit 2026 organised by the High Commission of India in Cyprus, High Commissioner Manish referred to the historic visit of Indian Prime Minister Narendra Modi to Cyprus in June last year, the first visit by an Indian Prime Minister in two decades. He noted that this visit led to the adoption of the India–Cyprus Action Plan 2025–2029, a comprehensive framework for cooperation covering trade, investment, technology, energy, defence and people-to-people connectivity. He also expressed his anticipation for the upcoming visit of the President of the Republic of Cyprus to India, noting that the Summit acts as a bridge between these two stations.
The High Commissioner described India as one of the world's five largest economies and the fastest growing major economy, with the largest youth population, a strong technological footprint and the third largest startup ecosystem in the world. He referred, among other things, to the country's digital transformation, noting that the Unified Payments Interface system handles over 14 billion transactions per month, as well as the dynamic development of the artificial intelligence ecosystem.
On Cyprus, he underlined its role as a resilient and strategically located EU member state, at the crossroads of Europe, Asia and Africa, with political stability, regulatory clarity, a developed financial and legal services sector, a skilled human resource and a strategic position within the India–Middle East–Europe Economic Corridor. He expressed his belief that India and Cyprus are “natural strategic partners”, as each offers elements that complement the needs of the other in shaping the global economy of tomorrow.
Regarding defence and security, he noted that as India expands its strategic partnerships internationally and Cyprus strengthens its own defence posture, a growing convergence of common interests is taking shape. He also recalled that a bilateral Defense and Security Cooperation Plan for 2026 was signed in January.
Beyond defence issues, he highlighted the importance of human capital, noting that every year approximately one and a half million engineers graduate from Indian universities, young, English-speaking and professionally trained, who constitute – as he mentioned – a driving force for mobility and connecting the Indian supply of skills with international demand. He stressed that cooperation in the field of human resources can be one of the most direct and substantial areas of partnership with Cyprus.
Referring to trade and investment, Manish noted that bilateral transactions remain stable but with significant room for further development, pointing out that the Indian market of 1.4 billion consumers, combined with Cyprus' role as a reliable gateway to the European Union, creates a strong trade corridor.
He also made special mention of the targeted B2B meetings held at the Cyprus Chamber of Commerce and Industry, as well as the contacts that continue on the sidelines of the Summit, expressing the assessment that the discussions will lead to specific commitments and results. As the High Commissioner underlined, the goal is to turn the discussions into action and real results, so that the common commitment to "transform tomorrow" acquires substantive content.
(Source: InBusinessNews)
