The position that “the real foundation of every successful investment story is human resources” was conveyed from the podium of the India–Cyprus Business & Investment Summit 2026 by the Deputy Minister of Migration and International Protection for the Republic of Cyprus, Dr. Nicholas A. Ioannides.
As he emphasised at the 3 March event, “when we talk about business and investment, we often refer to numbers, trade laws and capital. However, the true strategic advantage of modern economies is talent”.
At the same time, Ioannides revealed that the formation of a more specialised mobility framework between the two countries is underway, noting that "we are working towards a strategic mobility partnership, which aspires to align labor market needs with legal migration pathways, setting clear standards of protection and transparency."
In the context of the conference organised by the High Commission of India, the Deputy Minister also referred to the long-standing strong Cyprus-India relations, which, as he said, “have been built on mutual respect and a commitment to stability and international law.” He made special mention of the cooperation with the High Commission of India in Nicosia, noting that “this kind of daily cooperation is what makes strategic partnerships resilient.”
Particular mention was made of the presence of the Indian community in Cyprus, which he described as “vibrant and substantial in its contribution”. As he stated, Indian nationals currently constitute the fourth largest group of third-country nationals with residence permits in Cyprus, while by December 2025 approximately 15,000 Indian nationals held valid residence permits. “These figures reflect the fact that Indian talent is already an integral part of our social and economic system”, he underlined.
Dr. Ioannides focused in particular on the importance of proper management of migration and labor mobility, noting that “legal migration and mobility must be well-managed, transparent and mutually beneficial.” In this context, he described the Declaration of Intent on Migration and Mobility signed between Cyprus and India as an “essential step,” as it promotes “safe, orderly and legal migration pathways,” while strengthening cooperation against irregular migration and exploitation.
Referring to the historic visit of the Prime Minister of India to Cyprus in June 2025, he noted that a Joint Action Plan for the period 2025–2029 was adopted, which “clearly recognises that economic growth is no longer driven solely by traditional indicators, but by the quality of the workforce, skills, innovation and mobility.” As he said, the plan highlights human capital as a key driver of competitiveness and investment.
In closing, the Deputy Minister underlined that "human capital is crucial for meeting the needs of the labor market, economic stability and prosperity," assuring that Cyprus remains committed to attracting and facilitating talent, supporting integration and protecting workers, "while maintaining the trust of society."
(Source: InBusinessNews)
