Indian AI company BCentriqe.AI intends to establish a presence in Cyprus

A leading Indian company specialising in AI, BCentriqe.AI, has expressed the intention to establish a presence in Cyprus.

The news emerged during the high-level business forum promoting cooperation between Cyprus and India, that took place in Limassol on 15 June and which was attended by President Nikos Christodoulides and Prime Minister Narendra Modi.

More specifically, the CEO of BCentriqe.AI, Alakh Verma, announced that the company is establishing headquarters in Cyprus.

BCentriqe.AI’s products and services include using artificial intelligence to predict and manage business profits, to personalise customer, connect with customers at scale with omni-channel responses, control business profitability through intelligent insights on revenue and costs and engage customers through human-like chatbots.

The anticipated arrival of this company in Cyprus follows the recent arrival of LTI Mindtree, a leading technology giant based in Mumbai, and Thomas Cook India, a leading travel company also based in Mumbai.

LTIMindtree, together with the, also Indian, Voicing.AI, in which it has invested, has established a digital innovation centre at the CYENS Center of Excellence.

At the same time, and with the presence at the forum of both the CEO of Eurobank Fokion Karavias and CEO of Hellenic Bank Michalis Louis, Eurobank announced that it is bringing the Indian electronic payments system UPI to Cyprus.

It is recalled that Eurobank already operates UPI in Greece, based on a relevant memorandum of cooperation that it has signed with NPCI International, while the Eurobank Group has played a leading role in the course of upgrading the business/investment relations between Cyprus and India.

Having proceeded with the investment of €1.3 billion in Hellenic Bank - which it fully acquired - Eurobank set a clear goal to make Cyprus a gateway for businesses from India to the European Union. This falls within the Group's broader goal of actively promoting the interconnection of capital and businesses between Europe, the Middle East, Africa and South Asia.

Indicative of Eurobank’s orientation in this direction is the fact that it is soon to open a representative office in Mumbai to facilitate the flow of capital and investments between the country and European markets.

Also read: Cyprus' investment relations with India enter another dimension

Also read: India's NPCI International and Eurobank Cyprus extend cross-border payment strategic alliance