India-Cyprus: PM Modi highlights 100 billion annual infrastructure push

By Admin

17 Jun, 2025

During his recent visit to Limassol, Cyprus, Prime Minister Narendra Modi underscored the immense potential for strengthening India-Cyprus economic relations at the India-Cyprus CEO Forum. Addressing a dynamic gathering of CEOs and investors, PM Modi presented a compelling case for bilateral collaboration, emphasizing India's rapidly transforming digital economy and its massive $100 billion annual infrastructure investment.

A New Era in India-Cyprus Strategic Ties

PM Modi highlighted that Cyprus is steadily emerging as a committed partner in India’s growth journey. With deepening strategic and economic ties, the Prime Minister invited Cypriot businesses to tap into the evolving Indian market, describing it as fertile ground for innovation, infrastructure development, and digital integration.

“Your ideas reflect not just possibilities, but a strong resolve,” PM Modi said, urging both nations to unlock their true economic potential.

Key Milestone: NSE–Cyprus Stock Exchange Cooperation

One of the most notable announcements was the cooperation agreement between the Cyprus Stock Exchange and India’s National Stock Exchange (NSE), focused on collaborative initiatives in GIFT City, Gujarat. Modi hailed this as a "welcome move" that sets the stage for a new chapter in financial integration.

India's $100 Billion Infrastructure Investment Vision

PM Modi shared that India is investing over $100 billion annually to develop world-class infrastructure. The goal? To position India as a global manufacturing and logistics hub, ready to support innovation and growth at scale.

Focus Areas:

• Manufacturing Mission 2025: Unveiled in the latest Union Budget to boost industrial output and support startups.
  
  

• Port and Maritime Development: Emphasis on shipbuilding and shipbreaking, with a new national policy forthcoming.
  
  

• Startup Ecosystem: With over 100,000 active startups, India is solving real-world problems in fintech, AI, logistics, and healthcare.
  
  

“Our startups are not merely dreamers   they are problem solvers,” said PM Modi, calling on Cypriot investors to explore partnerships in this vibrant ecosystem.

India’s Digital Revolution: Global UPI Expansion

PM Modi celebrated India’s leadership in digital payments, noting that the Unified Payments Interface (UPI) accounts for 50% of the world’s digital transactions. France has already adopted the UPI system, and India is now in discussions to bring Cyprus into the fold.

“India is open to sharing its fintech success story. We welcome Cyprus to explore integration with our UPI system,” he stated, showcasing UPI as a tool for global financial inclusion.

India: Rising Economic Superpower

India’s stature on the world economic stage continues to grow:

• 5th largest economy currently
  
  

• Projected to become the 3rd largest economy in the coming years
  
  

• A decade of unparalleled digital and financial transformation
  
  

With political stability, strong reform agendas, and a young population, India is advancing steadily. Modi noted that his third consecutive term reflects India's strong democratic mandate for continued growth.

Trade Volume and Untapped Potential

Although India-Cyprus bilateral trade stands at $150 million, PM Modi stressed that this figure is far below its actual potential. Cyprus is already a trusted partner and a gateway to the European market.

Key highlights:

• Cyprus is a significant source of FDI in India.
  
  

• Several Indian companies are operational in Cyprus across multiple sectors.
  
  

• The proposed India-Greece-Cyprus Business and Investment Council will create a new trilateral platform for economic cooperation.
  
  

Toward a Free Trade Future

The Prime Minister also provided updates on Free Trade Agreement (FTA) progress:

• Talks with the United Kingdom are underway.
  
  

• FTA negotiations with Greece are expected to conclude soon.
  
  

• Once finalized, the agreement could allow Cyprus and other EU nations to seamlessly access India’s 1.4 billion-strong market.
  
  

A Shared Vision for Innovation and Growth

PM Modi concluded by positioning India-Cyprus engagement as transformational, not just transactional. The roadmap includes:

• Fintech collaborations
  
  

• Infrastructure partnerships
  
  

• Joint stock market initiatives
  
  

• Innovation-driven growth
  
  

The India-Cyprus CEO Forum 2025 has opened new horizons for cooperation in finance, trade, and technology. As India scales greater heights, trusted partners like Cyprus will be vital in building a future shaped by technology, trust, and trade.