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Prime Minister Shri Narendra Modi
participated in an important meeting with Cyprus President Nikos
Christodulides, aimed at further strengthening business relations between India
and Cyprus. Top industrialists and CEOs of both the countries also participated
in this special meeting.During the meeting, Prime Minister Modi said that there are immense possibilities between India and Cyprus in areas like innovation, energy, technology. They also discussed in detail the progress made by the Indian economy in the last decade, reforms and investment-friendly policies.
Prime Minister Modi said:
"India has carried out extensive economic reforms in the last 10 years. We
have not only strengthened the digital infrastructure, but have also invited
global investors in areas like startups, Make in India, green energy."
President Christodulides also
talked about deepening the strategic partnership with India. He said that
Cyprus can become the gateway to Europe for Indian companies.
Main points: Emphasis on strategy
to increase trade and investment between India-Cyprus.
Possibilities of cooperation in
energy, technology, innovation and startup sector.
Appreciation of India's economic
reforms and global leadership.
The business communities of both
countries have described this high-level meeting as a historic opportunity,
which can take bilateral trade to new heights in the coming years.
What
bilateral agreements were signed?
According to sources, no formal
bilateral agreement (MoU) has been signed in the meeting so far, but both
countries have agreed to finalize agreements related to investment cooperation,
technology transfer and energy security in the coming months. A joint statement
was issued after the discussion, reiterating the resolve to give a new
direction to bilateral cooperation.
What
are the major areas of Indian investment in Cyprus?
The
areas that Prime Minister Modi prioritized during this time are as follows:
Energy
sector: Cyprus
is a leader in the field of natural gas and renewable energy. Many Indian
companies are interested in participating in it.
Fintech
and Banking:
Cyprus is becoming a major financial hub of Europe, which is a center of
attraction for Indian Fintech startups.
Information Technology and Innovation: Indian IT companies can expand in Europe through Cyprus.
Education
and Healthtech:
There are possibilities of cooperation between the two countries in the field
of higher education and health services.
Real
Estate and Tourism:
Indian investors are showing interest in the real estate and hospitality sector
in Cyprus.
This meeting is being seen as a
positive sign internationally. It will not only be limited to India-Cyprus
relations, but will also strengthen India's cooperation with the European
Union. Prime Minister Modi has given a strong message through this meeting that
India is now ready to play a leadership role in global trade. Experts believe
that such high-level meetings will give a new dimension to India's "Act
East" and "Link West" policy. Although no formal agreement was
reached in this meeting, it can prove to be a milestone from a business point
of view. Many new avenues of cooperation are expected to open between the two
countries in the coming months.