In a strong pitch for India’s expanding global trade footprint, Prime Minister Narendra Modi addressed the India-Cyprus CEO Forum in Limassol on Monday, emphasising the country’s rapid economic growth, digital transformation, and commitment to finalising major trade agreements, including with the European Union, the United Kingdom, and Greece, by the end of the year. He also hailed Cyprus as a long-standing partner and highlighted the country’s role as a gateway to Europe for Indian businesses.
India’s trade ambitions with EU, UK, and Greece
PM Modi reiterated India’s determination to conclude the Free Trade Agreement (FTA) with the European Union by year-end. He also reminded the audience that a similar deal had already been agreed upon with the United Kingdom last month. Additionally, he expressed optimism about sealing an FTA with Greece before the year concludes. He welcomed the agreement between the Cyprus Stock Exchange and India’s National Stock Exchange (NSE) to collaborate at GIFT City in Gujarat, calling it a step forward in strengthening financial ties.
Speaking about trilateral cooperation, PM Modi welcomed the formation of the India-Cyprus-Greece Business and Investment Council, calling it a positive signal for future regional partnerships. Referring to Cyprus as a “trusted partner for a long time,” the prime minister highlighted mutual investments and stressed that many Indian companies now see Cyprus as a strategic entry point into the European market.
Digital revolution and infrastructure growth in India
Turning to India’s domestic achievements, PM Modi underlined the country’s remarkable digital revolution. He noted that India now accounts for 50% of the world’s digital transactions through UPI and that talks are underway to integrate Cyprus into this ecosystem. He presented India as a model for financial inclusion and digital leadership.
PM Modi also pointed out that India is investing over $100 billion annually in futuristic infrastructure projects. He detailed the government’s focus on maritime development, civil aviation, and the shipbuilding sector. He highlighted that the current administration’s third consecutive term has given it the stability and mandate to pursue long-term economic missions. Praising the vibrancy of India’s startup culture, he said that more than one lakh startups are not only dreaming but delivering scalable solutions. He reiterated that innovation is now a key pillar of India’s economic success, and the world is recognising its potential.
