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PM Modi Says India-Cyprus Cooperation Has 'Immense Potential For Growth'
- Prime Minister Narendra Modi highlighted the immense potential for growth in bilateral ties with Cyprus and called for strengthening cooperation during his visit.
- Modi referred to Cyprus as a 'reliable partner' for India and emphasized boosting business linkages in sectors like innovation, energy, and technology.
- He mentioned that India sees Cyprus as a gateway to Europe, and both countries aim to strengthen economic ties across various sectors.
- An MoU was signed between NPCI and Eurobank of Cyprus to introduce UPI services for cross-border transactions, enhancing digital transactions in the region.
- Further collaborations were initiated, including an MoU between NSE International Exchange Gift City and the Cyprus Stock Exchange for cross-border flows.
- Modi's visit to Cyprus marked the first by an Indian prime minister in over two decades, focusing on deepening bilateral ties and engagement with the Mediterranean region.
- The visit aimed to strengthen India's ties with Cyprus and the European Union, with upcoming participation in the G7 Summit in Canada and meetings in Croatia.
- Bilateral trade between India and Cyprus was reported at $136.96 million for April 2023-March 2024, indicating steady trade relations despite fluctuations.
- The article provides insights into the significant discussions and agreements to enhance economic cooperation and technological exchanges between India and Cyprus.
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