KPMG Cyprus, Plug and Play Cyprus and the Commissioner of India to Cyprus, Manish, held a meeting to outline the priorities needed to build on the momentum created by the deepening bilateral ties between Cyprus and India and create the conditions for more structured engagement.
The discussion brought together KPMG Cyprus CEO Christos Vasiliou, Head of Advisory Marios Lazarou, Head of Innovative Deal Advisory Pangrations Vanezis and Head of Asset Management Petros Mavrommatis. The discussion was also attended by Plug and Play Cyprus General Director Philippos Kyprianou and First Secretary of the High Commission of India to Cyprus Subhash Jangala.
Commissioner Manish, in a LinkedIn post, said that what stood out “was that the opportunity was no longer theoretical,” as the island offers a compelling platform for EU market access, regulatory positioning, financial services and international collaboration for India-based start-ups.
The priorities highlighted during the conversation included establishing institutional partnerships between innovation ecosystems, as well as startup acceleration and cross-border market access. Participants also highlighted the need to promote joint research opportunities in AI, deep tech, climate technology and digital innovation, while creating links between venture capital and co-investment to generate a dual-hub strategy connecting Indian innovation with European markets.
Manish also proposed a Cyprus–GIFT City dual-hub model to link India’s innovation ecosystem with European markets through Cyprus. The proposal builds on the growing financial relationship between the two centres, following the signing of a memorandum of understanding between NSE International Exchange in GIFT City and the Cyprus Stock Exchange during Indian Prime Minister Narendra Modi’s visit to Cyprus in June 2025.
The agreement provides a framework for cross and dual listings, capital-market cooperation and stronger financial connectivity between the two countries.
“India’s startup ecosystem has reached a scale that makes collaboration increasingly relevant for international partners, but scale alone is not enough. What matters is building predictable, institutional and long-term mechanisms that connect founders, researchers, investors, corporations and governments,” Commissioner Manish added.
He referred to past engagement by Research and Innovation Minister Nicodemos Damianou and Chief Scientist Demetris Skourides, as well as a business delegation supported by the Cyprus Chamber of Commerce and its Indian counterpart.
