Apex business chamber CII and Cyprus Chamber of Commerce and Industry (CCCI) inked a strategic memorandum of understanding (MoU) to boost cooperation between Indian and Cypriot industries. The agreement focuses on promoting investments, forming joint ventures, organizing business delegations, trade fairs, and sector-specific engagements. The signing ceremony was attended by Cyprus President Nikos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis.
Alexis Vafeades, Minister of Transport and Communications of Cyprus, and Nicodemos Damianou, Deputy Minister of Research, Innovation & Digital Policy, were also present at the Cyprus–India Business Forum. Additionally, the Society of Indian Defence Manufacturers (SIDM) signed an MoU with the Cyprus Defence & Space Industry Cluster (CyDSIC) to enhance collaboration in defense manufacturing, aerospace innovation, and industrial cooperation between the two nations.
The agreements aim to strengthen business ties, facilitate industry exchanges, and foster technology partnerships while creating new prospects for collaboration in defense and strategic sectors. Jai Prakash Shivahare, India’s Joint Secretary (Europe), emphasized the increasing momentum in bilateral economic engagement and the mutual dedication to bolstering Cyprus–India economic relations.
B. Thiagarajan, Chairman of CII National Committee on Skill and Livelihood Centres, expressed that the CII–CCCI partnership would unlock fresh opportunities for trade, investment, and technology cooperation, thereby enhancing economic engagement between India and Cyprus. He highlighted that robust industry collaborations would drive growth across vital sectors such as technology, manufacturing, logistics, defense, digital innovation, and services.
