Mumbai, May 21: The Confederation of Indian Industry (CII) signed a strategic memorandum of understanding (MoU) with the Cyprus Chamber of Commerce and Industry (CCCI) on Thursday. The signing took place in the presence of Cyprus President Nikos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis.
The CII-CCCI MoU aims to enhance investment promotion, joint ventures, business delegations, trade fairs, and collaboration across various sectors between Indian and Cypriot industries.
The Cyprus-India Business Forum, held in Mumbai, also featured the presence of Cyprus’s Minister of Transport and Communications, Alexis Vafeades, and Deputy Minister of Research, Innovation, and Digital Policy, Nikodemos Damianou.
In another significant agreement, the Society of Indian Defence Manufacturers (SIDM) signed an MoU with the Cyprus Defence and Space Industry Cluster (CIDSC). This agreement focuses on strengthening defense manufacturing, aerospace innovation, dual-use technology, and industrial cooperation.
These agreements aim to promote trade relations, facilitate exchanges between industries, and foster technology partnerships. They also seek to create new opportunities for collaboration in defense and strategic sectors.
On this occasion, Joint Secretary for Europe in the Indian government, Jay Prakash Shivhare, emphasized the growing economic cooperation between India and Cyprus, reaffirming the commitment to strengthen economic ties between the two nations.
B. Thiagarajan, Chairman of the CII National Skill and Livelihood Center Committee, stated that the CII-CCCI partnership will open new avenues for trade, investment, and technology collaboration, further solidifying the economic relationship between the two countries. He noted that a robust industrial partnership would lead to rapid growth in technology, manufacturing, logistics, defense, digital innovation, and service sectors.
President Christodoulides is on a four-day visit to India from May 20 to 23, 2026. This marks his first visit to India since taking office.
This visit follows Prime Minister Narendra Modi’s historic trip to Cyprus in June 2025, which was the first by an Indian Prime Minister in over two decades. The timing is significant as Cyprus currently holds the presidency of the European Union Council.
During his visit, President Christodoulides and Prime Minister Modi will discuss strengthening bilateral cooperation in areas such as trade, investment, technology, education, culture, people-to-people exchanges, defense and security, AI, fintech, innovation, and research. The two leaders will also exchange views on regional and global issues.
President Christodoulides will meet with President Droupadi Murmu, who will host an official banquet in his honor. Foreign Minister Dr. S. Jaishankar will also meet with him.
India and Cyprus have maintained strong and reliable relations for a long time. This visit will play a crucial role in furthering cooperation between the two countries, particularly in the broader context of India-EU relations. Both nations will celebrate 65 years of diplomatic relations on February 10, 2027.
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