Mumbai, May 21 (IANS). The country’s leading industry body CII on Thursday signed a strategic memorandum of understanding (MoU) with the Cyprus Chamber of Commerce and Industry (CCCI). The agreement was signed in the presence of Cyprus President Nicos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis.
The CII-CCCI MoU aims to strengthen cooperation between Indian and Cypriot industries focused on investment promotion, joint ventures, business delegations, trade fairs and various sectors.
Alexis Vafedes, Minister of Transport and Communications of the Republic of Cyprus and Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy were also present at the Cyprus-India Business Forum held in Mumbai.
Meanwhile, in another important agreement, the Society of Indian Defense Manufacturers (SIDM) signed an MoU with Cyprus Defense and Space Industry Cluster (CIDSC), which aims to strengthen defense manufacturing, aerospace innovation, dual-use technology and industrial cooperation.
The objective of these agreements is to promote trade relations, exchange between industries and technology partnership. Also, creating new cooperation opportunities in defense and strategic areas is also a part of this.
On this occasion, Jai Prakash Shivhare, Joint Secretary for Europe Affairs in the Central Government, emphasized on the growing economic cooperation between India and Cyprus and reiterated the commitment to further strengthen the economic relations between the two countries.
CII National Skills and Livelihood Center Committee Chairman B. Thiagarajan said the CII-CCCI partnership will open up new opportunities for trade, investment and technology cooperation and further strengthen the economic ties between the two countries. He said that strong industrial partnerships will lead to rapid growth in technology, manufacturing, logistics, defence, digital innovation and services sectors.
Cyprus President Nicos Christodoulides is on a four-day visit to India from 20 to 23 May 2026. This is his first visit to India after becoming the President.
Christodoulid’s visit comes within a year of Prime Minister Narendra Modi’s historic visit to Cyprus in June 2025. The visit, which took place on 15-16 June 2025, was the first visit by an Indian Prime Minister to Cyprus in more than two decades. This visit is also considered important because Cyprus is currently holding the presidency of the European Union Council.
During this visit, President Christodoulides and Prime Minister Modi will discuss further strengthening bilateral cooperation in areas such as trade, investment, technology, education, culture, movement of people, defense and security, AI, fintech, innovation and research. The two leaders will also exchange views on regional and global issues.
President Christodoulides will also meet President Draupadi Murmu, who will host an official banquet in his honour. Foreign Minister Dr. S. Jaishankar will also meet him.
India and Cyprus have long enjoyed strong and trusting relations. The visit will play an important role in furthering the growing cooperation between the two countries, especially in the broader context of India-EU relations. Both the countries will complete 65 years of their diplomatic relations on 10 February 2027.
–IANS
DBP