Cyprus President Nikos Christodoulides and Prime Minister Narendra Modi, in a recent meeting in New Delhi, have agreed to enhance their countries’ relationship to a strategic level. This upgrade will involve increased cooperation in defense and improved transport connectivity. The two leaders acknowledged the positive trajectory of their bilateral ties, noting significant progress over the past year.
President Christodoulides expressed Cyprus’s interest in collaborating with India’s defense industry and exploring opportunities for joint ventures. Cyprus is set to receive substantial defense investments from the European Union and is keen on bolstering its military capabilities, potentially through procurement from India. Discussions are underway for the Defense Minister’s upcoming visit to India to further explore defense cooperation and identify specific areas of mutual interest.
Additionally, efforts are being made to enhance transport links between the two nations. The relevant Transport Minister is scheduled to engage with Air India and IndiGo to discuss the feasibility of launching direct flights. Both airlines have shown interest, and plans are in place to establish direct connectivity by the end of the year.
Indian companies have already made investments in Cyprus, leveraging the country’s strategic location as a gateway to the European market. Business collaborations between Indian and Cypriot firms, particularly in Mumbai, are flourishing across various sectors, with potential for further expansion. Cyprus is set to open a trade office in Mumbai from September 1, signaling a commitment to strengthening economic ties.
Furthermore, Cyprus is gearing up to host the shooting of its first Bollywood film, marking a significant cultural exchange between the two nations. The film, a romantic production, is scheduled to commence filming in June and is slated for release on February 14 next year.
In a bid to enhance financial cooperation, Eurobank has inaugurated its first representative office in Mumbai. The bank is actively working on integrating systems, including UPI, to facilitate seamless transactions between India and Cyprus. This initiative is expected to be operational in Cyprus next year, benefitting users from both countries.
Cyprus’s presidency has kicked off with the announcement of a Free Trade Agreement, with ongoing efforts to finalize the necessary legal framework for its implementation. The country is also engaged in negotiations with the European Commission and India for various agreements, including Investment Protection, climate cooperation, and security projects. Noteworthy sectoral dialogues planned for 2026 encompass maritime security, cyber discussions, counter-terrorism initiatives, and a Green Hydrogen Task Force.
